Orianna disclosure statement approved; confirmation hearing July 16

By Caroline Salls

Pittsburgh, June 1 – 4 West Holdings, Inc. (Orianna) obtained court approval of the disclosure statement for its plan of reorganization, according to an order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The plan confirmation hearing is scheduled for July 16.

As previously reported, Orianna landlord Omega Healthcare Investors, Inc. will receive in exchange for its secured claim the transfer portfolio and other compromise consideration, as well as a plan sponsor consideration and any remaining distribution trust assets, other than a general unsecured claims cash amount, after payment in cash or reserve for priority claims.

Holders of general unsecured claims will receive a share of the general unsecured claims cash amount.

Old parent interests will be canceled, and holders will receive no distribution.

Dallas-based 4 West holds the Orianna Health Systems trademark. It filed for Chapter 11 on March 6 under case number 18-30777.

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