The United States Bankruptcy Court for the Southern District of Iowa recently confirmed a Joint Debtor/Committee Plan involving QHC Facilities, LLC and its 10 related nursing homes and assisted living facilities.
At its peak, QHC served a highly vulnerable population of over 300 residents. Confirmation of the plan was the final chapter in the case that was preceded by an almost year-long sale and restructuring process. The plan was made possible through complex negotiations with multiple entities, including the state and federal governments, two secured lenders, the Official Committee of Unsecured Creditors, and the United States Trustee.
Dentons attorneys Krystal Mikkilineni and Tirzah Roussell, along with Jeffrey Goetz of the Des Moines law firm Bradshaw, Fowler, Proctor & Fairgrave, P.C., represented the debtors, QHC Facilities. The debtors’ financial advisors included Ronald Winters, Brad Williams, and Tyler Brasher with Gibbins Advisors. The Official Committee of Unsecured Creditors was represented by Francis Lawall and Deb Kovsky with Troutman Pepper.
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