Prospect Medical Holdings, Inc.

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Case overview

Case Number:

8:25-bk-80002

Court:

Texas Northern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

April 28, 2025
Imerys Ch. 11 Trial Abruptly Paused, Celsius Seeks Sanctions

Talc producer Imerys is nearing Chapter 11 plan confirmation after a trial commenced; a plan administrator for Celsius moved to impose sanctions in another crypto firm’s bankruptcy; and Prospect Medical secured court approval to close two facilities.
April 22, 2025
Judge Approves Prospect Medical's Pa. Hospitals' Closure

A Texas bankruptcy judge on Tuesday approved Prospect Medical Holdings' request to close two Pennsylvania hospitals after the bankrupt operator was unable to secure another entity to run the hospitals despite support from government and community organizations to keep them open.
April 10, 2025
Prospect Medical Hospitals Get One More Reprieve In Ch. 11

Hospital operator Prospect Medical has scored $6 million in financing to temporarily stave off the closure of three Pennsylvania hospitals, the debtor's counsel told a Texas bankruptcy judge Thursday.
March 24, 2025
Prospect Medical Scores $13M Funding Bump Amid Sale Talks

Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 million, with the help of a nonprofit, as the parties continue negotiations.
March 19, 2025
Prospect Medical Gets Deal With MPT To Start Sale Process

A Texas bankruptcy judge on Wednesday approved a settlement between hospital operator Prospect Medical Holdings Inc. and landlord Medical Properties Trust Inc. that allows the debtor to launch a sale process for its facilities in California and Connecticut and borrow $25 million to fix earthquake damage.
March 17, 2025
Yale Unit Questions Prospect Medical's Ch. 11 Sale Plan

Yale New Haven Health Services Corp. is questioning whether bankrupt hospital owner Prospect Medical Holdings Inc.'s attempt to sell its three Connecticut facilities through a Texas Chapter 11 proceeding will affect Yale New Haven's rights under a $435 million asset purchase agreement covering the same properties.
March 11, 2025
Prospect Medical Avoids Pa. Hospital Closures For Now

California-based hospital operator Prospect Medical Holdings Inc. agreed to delay its emergency motion to close three hospitals in Pennsylvania after it reached a two-week funding deal with the Foundation of Delaware County.
February 19, 2025
Prospect Medical Blames Yale Lawsuit For Ch. 11 Filing

Bankrupt hospital operator Prospect Medical Holdings is seeking to convince a Connecticut federal judge to have a bankruptcy court oversee a $435 million lawsuit through which Yale New Haven Health is trying to back out of buying three Prospect hospitals, saying the case played a key role in its bankruptcy filing.
February 18, 2025
Willkie DQ'd, Guo Clawbacks Continue

Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
February 12, 2025
Judge OKs Prospect Medical To Sell Two RI Hospitals

A Texas bankruptcy judge has approved bankrupt hospital operator Prospect Medical's request to sell its two Rhode Island hospitals to the nonprofit organization Centurion Foundation Inc. for $160 million, following the resolution of objections raised by the Rhode Island Attorney General's Office and the Centers for Medicare & Medicaid Services.