Desert Home Care sets up asset sale procedures and timeline

Chicago, Dec. 20 – Borrego Community Health Foundation, which does business as Desert Home Care, has had its asset sale procedures and timeline approved with a few modifications by the court, according to an order filed with the U.S. Bankruptcy Court for the Southern District of California.

The company is selling substantially all of its assets, including executory contracts and unexpired leases.

A stalking horse bidder may be designated. A break-up fee not in excess of 2.5% of the purchase price has been approved.

The timeline for the sale includes a Jan. 5 deadline to submit indications of interest with qualified bids due by Jan. 23.

If an auction is necessary, it will be held on Feb. 6.

A sale hearing will be held on Feb. 22.

The San Diego-based provider of in-home skilled nursing services filed Chapter 11 bankruptcy on Sept. 12 under case number 22-02384.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.