East Coast Hospital Files For Bankruptcy
Following a patient safety investigation of Saint Catherine Medical Center, owner Saint Catherine’s Hospital of Pennsylvania filed for Chapter 11 bankruptcy in April 2012, the Republican Herald reported. The PA state health department in March 2012 conducted a visit to the Ashland, PA healthcare facility and discovered patient safety violations, including a lack of needles, syringes, […]
Harnessing Solutions for Business Bankruptcy Challenges
In late February 2012, bankrupt Peninsula Hospital in Queens, N.Y., closed down much of its 173-bed facility after NY state health officials ordered it to shut its lab, citing patient safety danger. Since lab services were intertwined with the hospital’s operations, Peninsula Hospital transferred and discharged its inpatients and canceled surgeries, according to Crain’s New York. The […]
How Bankruptcy Affects A Credit Report
After a bankruptcy discharge from the court, the debt discharged will no longer exist and a debtor gets to keep any cash or assets acquired after discharge. A creditor will not be able to go after a debtor for the discharged debt. A debtor can get back in financial shape by controlling impulses to overspend, […]
Filing for Chapter 7 After A Divorce
Many couples argue over money. One spouse may be cheap. Another spouse may be a spender. The couple may be in conflict about their credit card bills, the mortgage or car payments. Debt can cause a relationship to fall apart. A divorce may establish clarity in a couple’s private life, but does not make debt […]
Director Duties to Creditors at Insolvent Businesses
The California Court of Appeal, Sixth Appellate District issued a ruling in Berg & Berg Enterprises, LLC v. Boyle, 2009 Cal. App. LEXIS 1740 (Oct. 29, 2009) that limits a breach of fiduciary duty action brought by creditors against insolvent corporation directors. This case serves as persuasive authority for bankruptcy cases in New York. Berg came […]