Health Care - Bankruptcy & Restructuring
In the fast paced arena of health care finance, issues relating to receivables financing, third party reimbursement, asset sales and restructuring often come to bear upon health care professionals. The Creditors' Rights & Bankruptcy Service Group advise their health care clients as to the unique issues arising when a health care provider or lender in the health care field experiences an insolvency question. The Creditors' Rights & Bankruptcy Service Group provides services in advising clients as to asset sales, work-outs and restructuring, as well as representation in Chapter 7, 9 or 11 cases that involve health care providers such as doctors or hospitals. This representation covers the gamut from health care providers, to vendors, to landlords and lenders. Members of our Creditors’ Rights & Bankruptcy Service Group partner with members of our other practice groups, including the Health Care Group, Environmental & Natural Resources, Intellectual Property, Construction, Real Estate and Banking to provide a full service response to your business needs from coast to coast.
In the area of health care insolvency, our Creditors' Rights & Bankruptcy Service Group attorneys:
- Negotiate the sale of assets including Certificates of Need
- Restructure provider based receivable financing
- Negotiate lease disputes including assumption/rejection in bankruptcy
- Represent clients in Chapter 7, 9 and Chapter 11 health care cases
- Advise lenders and trade creditors as to the recovery of their claims
Significant Bankruptcy Issue Pending Before U.S. Supreme Court
In December 2023, the U.S. Supreme Court heard oral arguments in the case of Harrington v. Purdue Pharma, L.P., Case No. 23-124. Purdue Pharma is the drug manufacturer of the prescription opioid, OxyContin, an alleged contributor to a major public health crisis involving loss of life due to overdose. Chrisandrea Turner takes a look at the case in this Stites & Harbison Client Alert.