The Gulf Coast defuses ch. 11 Loan, Litigation related to site management

By Jeff Montgomery (Nov 24, 2021, 7:27 p.m. EST) – Bankruptcy Gulf Coast Health Care reached deals on Wednesday on changes to a $ 25 million funding loan project and a management change deal for 24 of chain nursing home sites in Florida and Mississippi after two days of wrangling over insider benefits and creditors claim restrictions.

United States Bankruptcy Judge Karen B. Owens approved the Debtor-in-Owner loan and the changes to the Transfer of Management and Operations (MOTA) agreement based on the transaction descriptions disclosed in the ‘a hearing by videoconference. The judge said she will sign the documents when they are presented in their final form, with the MOTA due to be filed later Wednesday.

Gulf Coast …

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