Vanguard Healthcare hearing, status conference continued to Sept. 21

By Caroline Salls

Pittsburgh, Sept. 12 – Vanguard Healthcare, LLC’s hearing on approval of the sale of the assets of its Whitehall OpCo, LLC debtor and a status conference on the company’s Chapter 11 plan have been continued to Sept. 21, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Middle District of Tennessee.

The hearing and status conference were previously scheduled for Sept. 12.

However, Vanguard asked the court to continue the proceedings on Monday, stating that “further time is still needed regarding the discussions with the official committee of unsecured creditors and Healthcare Financial Services LLC of the terms for an agreed joint plan.”

Vanguard said that agreement would resolve issues that affect the division of the proceeds from the sale of Whitehall.

In addition, the company said it will be in a better position on Sept. 21 to provide a status regarding the joint plan, assuming that an agreement can be reached.

According to the motion, Whitehall has not received any qualified bids other than from Boca Property, LLC and does not anticipate any issues regarding the terms of the asset purchase agreement with that buyer.

Vanguard is a Brentwood, Tenn., long-term care provider. The company filed bankruptcy on May 6, 2016 under Chapter 11 case number 16-03296.

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