Victory Memorial Hospital seeks four-month exclusivity extension to complete closure funding process

By Caroline Salls

Pittsburgh, June 27 - Victory Memorial Hospital requested a second extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the Eastern District of New York.

The hospital wants to extend its exclusive plan-filing period to Nov. 15 from July 15 and the solicitation period to Jan. 15, 2008 from Sept. 15.

According to the motion, when the hospital filed for bankruptcy, it intended to reorganize and emerge from Chapter 11 as a more efficient, streamlined hospital.

However, in January recommendations that included closing Victory Memorial and reorganizing it as a diagnostic and treatment center and provider of long-term care became law.

Since then, the hospital said it has been discussing various options for implementing the plan, which must be completed by June 30, 2008.

Victory Memorial said it is applying for funding related to the closure process, and those aid applications are due by July 16.

The hospital said the aid process will include some requirements for funding its plan of reorganization.

A hearing is scheduled for July 10.

The Brooklyn, N.Y.-based hospital filed for bankruptcy on Nov. 15, 2006. Victory Memorial's Chapter 11 case number is 06-44387.

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