Steward Health Care System LLC

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Case overview

Case Number:

4:24-bk-90213

Court:

Texas Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

July 03, 2024
Steward Health Downfall Prompts Calls For Tighter Regs

The magnitude of the financial troubles plaguing bankrupt hospital operator Steward Health Care has turned the Chapter 11 case into a flash point that should prompt a regulatory overhaul, according to a new report released by advocacy group Private Equity Stakeholder Project.
June 13, 2024
Steward Health To Mediate Sale Disputes, Tap New $225M DIP

A Texas bankruptcy judge on Thursday ordered Steward Health Care to engage in mediation with its main landlord and other parties to attempt to resolve disputes over how to allocate proceeds from the sales of Steward's hospitals, shortly after the judge gave initial approval to $225 million in bankruptcy financing the company said it desperately needed.
June 03, 2024
Judge Says It's Time For DIP Deal For Steward Healthcare

A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while saying the company needs that final commitment soon.
May 20, 2024
Red Lobster Filing, Giuliani Deal, New Jersey's Rise As Venue

Seafood restaurant chain Red Lobster filed for bankruptcy in Florida with $294 million in funded debt after a failed "endless shrimp" promotion, Rudy Giuliani and two election workers who sued him for defamation said they were close to a deal to resolve a lawsuit filed in his bankruptcy case, and a top New Jersey judge disclosed the Garden State was the second-busiest bankruptcy venue over the past year.
May 17, 2024
Steward Health Ch. 11 Lifts Lid On PE In Healthcare

Steward Health's $9 billion Chapter 11 has come under scrutiny from state attorneys general seeking to uncover why a once-rapidly growing hospital network ended up buried in debt, with authorities taking the unusual tack of turning a special eye toward its former private equity owner Cerberus Capital Management, experts told Law360.
May 17, 2024
Healthcare Co. Sues Steward In Ch. 11 Over Military Contract

A healthcare company that provides services to members of the military and their families sued debtor Steward Health Care on Thursday in Texas bankruptcy court, asking a judge there to declare that the provider properly terminated a subcontract with Steward due to its declining financial state.
May 13, 2024
Steward Health's Multifaceted Ride Into Bankruptcy

By the time major U.S. hospital operator Steward Health Care fell into Chapter 11 on May 6, there were plenty of different places for critics to lay the blame: at the feet of its former private equity owners, its lender and landlord, its CEO, a stalled business deal, or the economy itself.
May 07, 2024
Meet The Weil Attys Guiding Steward Health's Ch. 11

A team of attorneys from Weil Gotshal & Manges LLP is representing Steward Health Care System LLC as the embattled hospital operator navigates Chapter 11 in a Texas bankruptcy court with more than $1 billion in debt.
May 07, 2024
Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.
May 06, 2024
Hospital Chain Steward Health Hits Ch. 11 With Over $1B Debt

Embattled hospital operator Steward Health Care filed for Chapter 11 protection Monday in a Texas bankruptcy court with more than $1 billion in debt, blaming rising costs and falling government reimbursement rates.

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