Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Healthcare Equipment & Services

East Orange General Hospital Chapter 11 Petition Filed

Privately-held East Orange General Hospital filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of New Jersey, case number 15-31232. The Company, which is a New Jersey community hospital and emerging premiere urban medical center, is represented by Kenneth A. Rosen of Lowenstein Sandler. According to documents filed with the Court, "The Hospital's performance appears to have declined over the past two years for a number reasons, including insufficient working capital to invest in staff retention, recruitment, training and development, and insufficient capital to assure (i) current, state of the art technology, (ii) replenishment or replacement of fixed and moveable equipment, and (iii) needed upgrades to the physical infrastructure. The Hospital's loss of valued and experience staff over the last several years has further eroded the institution's operating effectiveness." East Orange General Hospital's Chapter 11 petition indicates total assets greater than $100 million.

Read more Bankruptcy News