Vanguard Healthcare seeks exclusivity extension to complete plan talks

By Caroline Salls

Pittsburgh, Oct. 27 – Vanguard Healthcare, LLC requested a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Middle District of Tennessee.

Vanguard wants to extend its exclusive filing period to Nov. 30 from Oct. 31 and the solicitation period to Jan. 31.

As previously reported, the company’s first extension was shortened under an agreement with its official committee of unsecured creditors. Vanguard said it received the consent of the committee and primary secured creditor Healthcare Financial Solutions for the further extension.

“The debtors have been negotiating with the committee and HFS regarding the debtors’ proposed plan of reorganization but need additional time to complete ongoing plan discussions,” the motion said.

A hearing is scheduled for Nov. 29.

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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