Vanguard Healthcare seeks exclusivity extension to complete plan talks

By Caroline Salls

Pittsburgh, Aug. 15 – Vanguard Healthcare, LLC requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Middle District of Tennessee.

Vanguard wants to extend its exclusive filing period to Dec. 2 from Sept. 5 and the solicitation period to Jan. 31.

The company said it has been negotiating with the official committee of unsecured creditors and Healthcare Financial Solutions, LLC regarding a proposed plan of reorganization, but it needs more time to complete ongoing plan discussions with these and other stakeholders as a result of large unsecured claims either filed or expected to be filed by the claims bar date.

A hearing is scheduled for Aug. 30.

Vanguard is a Brentwood, Tenn., long-term care provider. The company filed bankruptcy on May 6 under Chapter 11 case number 16-03296.

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