Vanguard Healthcare debtor granted approval of $26 million asset sale

By Caroline Salls

Pittsburgh, Sept. 28 – Vanguard Healthcare, LLC debtor Whitehall Opco, LLC received court approval of the $26 million sale of its assets to Del Prado Boca Realty, LLC, according to an order filed Thursday with the U.S. Bankruptcy Court for the Middle District of Tennessee.

The Vanguard debtors said they plan to use the cash proceeds of the sale, less any closing costs, to partially satisfy pre-bankruptcy liens.

In June, Whitehall withdrew a previous motion for the sale of its assets because it did not receive any qualified bids for the assets.

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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