Saint Vincents gets more time to file Chapter 11 plan, solicit votes

By Caroline Salls

Pittsburgh, Sept. 22 - Saint Vincents Catholic Medical Centers of New York obtained a fourth extension of its exclusive periods for filing a Chapter 11 plan and for solicitation of votes, according to documents filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive filing period was extended to Oct 14 from Aug. 9 and the solicitation period to Dec. 14 from Oct. 6.

"To date, extensive efforts have been made to manage and transfer patient care services, provide for the orderly liquidation of numerous and substantial assets (including health care services and the debtors' Manhattan Campus used in its former hospital activities), and address numerous legal issues underlying billions of dollars of asserted claims," the motion stated.

"These issues include the analysis of tens of millions of dollars of alleged administrative and priority claims which need to be resolved as part of any plan(s)," according to the filing.

Saint Vincents, a New York-based health care system, filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11963.

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