Constellation Healthcare cash collateral use extended through Oct. 26

By Caroline Salls

Pittsburgh, Oct. 12 – Constellation Healthcare Technologies, Inc.’s cash collateral use was extended through Oct. 26 under a stipulation filed Thursday with the U.S. Bankruptcy Court for the Eastern District of New York.

The other parties to the stipulation are the official committee of unsecured creditors appointed for Constellations’ Chapter 11 case and lender agent Bank of America, NA.

The cash collateral includes collected accounts receivable and asset sale proceeds.

According to the stipulation, “the debtors do not have available sources of working capital and financing to administer their Chapter 11 cases without the use of cash collateral.”

A status conference on Constellation’s further use of cash collateral is scheduled for Oct. 17.

Houston-based Constellation is a health care services organization providing outsourced revenue cycle management, practice management and group purchasing services to U.S. physicians. The company filed for bankruptcy on March 16 under Chapter 11 case number 18-71748.

© 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.