Quincy Medical Center in liquidation plan talks, eyes cash extension

By Caroline Salls

Pittsburgh, Aug. 11 - Quincy Medical Center, Inc. has asked the U.S. Bankruptcy Court for the District of Massachusetts to cancel its Sept. 1 disclosure statement hearing and extend its cash collateral use by one week to allow negotiation of a consensual liquidation plan, according to a Thursday court filing.

The company also asked the court to excuse it from an Aug. 8 order requiring it file the disclosure statement for its proposed liquidation plan by 4:30 p.m. ET on Thursday.

Quincy said it is in talks with its creditors committee and indenture trustee on plan terms, and it needs more time to review relevant financial information and continue plan negotiations.

The company asked the court to extend the cash collateral use to Aug. 19 from Aug. 12.

Quincy Medical Center filed for bankruptcy on July 1. Its Chapter 11 case number is 11-16394.

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