Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Mercy Iowa City > News item |
Mercy Iowa City gets further extension of exclusive periods
By Sarah Lizee
Olympia, Wash., March 28 – Mercy Iowa City secured a further extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Northern District of Iowa.
The court extended the exclusive plan filing period through June 3 and the exclusive solicitation period through Aug. 5.
The company said it has had discussions with trustee Computershare Trust Co., NA and bondholder representative Preston Hollow Community Capital, Inc. about plan formation. The company recently filed a new plan that has the support of Computershare and Preston Hollow.
The company said it wanted to extend the exclusive periods an additional 90 days in order to avoid the significant reduction in estate resources and disruptions that would result from any creditors filing and trying to solicit a competing plan while the company’s plan is being considered.
The Iowa City-based hospital filed Chapter 11 bankruptcy on Aug. 7, 2023 under case number 23-00623.
© 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.