GenesisCare’s plan draws objection from practitioner equity group

By Sarah Lizee

Olympia, Wash., Nov. 16 – GenesisCare Pty Ltd.’s Chapter 11 plan drew a limited objection from an informal group of practitioner equity holders, according to documents filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The group specifically objected to the debtor and third-party releases in the plan.

“Because the debtors cannot establish the narrow circumstances permitting a third-party release or exculpation, the release provisions in article VIII.C and VIII.D of the plan should not be approved,” the group said in the limited objection.

The plan confirmation hearing is scheduled for Nov. 21.

GenesisCare is a cancer care provider with headquarters in Sydney. The company filed bankruptcy on June 1 under Chapter 11 case number 23-90614.

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