Brotman granted 75-day extension to exclusive plan-solicitation period; ruling appealed

By Jennifer Lanning Drey

Portland, Ore., Dec. 24 - Brotman Medical Center was granted a 75-day extension to its exclusive period to solicit votes on its plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the Central District of California.

The exclusive solicitation period was extended to Feb. 4 from Nov. 21.

Culver Hospital Holdings LLC appealed the exclusivity extension, according to a separate Wednesday filing.

When requesting the extension, Brotman said it required additional time, free from the distraction that would accompany a competing plan, to obtain adequate exit financing on acceptable terms, prepare plan-related documents and complete the solicitation process.

The company said the prior timeframe to prepare, confirm and implement its plan of reorganization was extremely condensed.

Brotman, a privately held medical center serving the West Los Angeles, Calif., area, filed for bankruptcy on Oct. 25, 2007. Its Chapter 11 case number is 07-19705.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.