December 10, 2024
The U.S. Trustee's Office has argued that bankrupt hospital operator CarePoint Health should be taken over by a Chapter 11 trustee, or it should be liquidated, due to gross mismanagement, including failing to remit more than $20 million withheld from employees' paychecks this year and concerns about a prepetition deal to sell one of its three hospitals.
November 05, 2024
Several companies sought Chapter 11 bankruptcy protection this week, reflecting diverse challenges across industries. TGI Fridays and Rainbow Production Services cited economic pressures and a post-COVID downturn, while Star Transportation and New Jersey nonprofit CarePoint Health Systems pointed to rising costs and funding issues that intensified after the pandemic.
November 04, 2024
A New Jersey nonprofit that operates three hospitals filed for Chapter 11 in Delaware, saying it faced increased operating costs after COVID-19 and hopes to restructure its debt.