Monroe Hospital granted three-month extension of exclusive periods

By Kali Hays

New York, Nov. 17 – Monroe Hospital, LLC received approval of a 90-day extension of its exclusive Chapter 11 plan filing and solicitation periods, according to a Nov. 17 entry with the U.S. Bankruptcy Court for the Southern District of Indiana.

As previously reported, the company asked that its exclusive filing period be pushed to March 7 from Dec. 8 and its solicitation period to May 4 from Feb. 4.

Monroe said the additional time will allow it to continue plan discussions with its largest creditors, MPT Bloomington, LLC and MPT Developmental Services, Inc., and the buyer of its assets, Prime Healthcare Services Monroe, LLC.

While MPT has expressed support of a liquidation plan “in theory,” specific plan terms have yet to be agreed upon, according to the motion.

As previously reported, the court approved Monroe’s asset sale to Prime in October and the company expects the sale to close by Nov. 18.

Monroe, a Bloomington, Ind.-based hospital operator, filed for bankruptcy on Aug. 8. Its Chapter 11 case number is 14-07417.

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