Saint Vincent Catholic Medical Centers requests four-month exclusivity extension

By Caroline Salls

Pittsburgh, Oct. 7 - Saint Vincent Catholic Medical Centers requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan filing period to March 2 from Nov. 2 and the solicitation period to May 1, 2006 from Jan. 1.

According to the motion, the extension is merited because since filing for bankruptcy, the hospital has devoted its time to stabilizing business operations and obtaining financing to address liquidity needs.

Aside from the size and complexity of the case, Saint Vincent said its case is also complicated by the fact that it is a not-for-profit entity that is responsible not only to its creditors, but also to its charitable purposes.

A hearing is scheduled for Oct. 18.

The New York metropolitan area health care system filed for bankruptcy on July 5. Its Chapter 11 case number is 05-14945.

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