Nobilis Health, two Northstar subsidiaries file Chapter 7 bankruptcy

By Caroline Salls

Pittsburgh, Oct. 23 – Nobilis Health Corp. filed Chapter 7 bankruptcy Monday in the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Northstar Healthcare Acquisitions, LLC, an indirect subsidiary of Nobilis Health, entered into a forbearance agreement with the lenders under its Oct. 28, 2016 credit agreement on April 4.

The lenders agreed that they will forbear from demanding payment in full of all obligations and exercising their rights and remedies relating to events of default that occurred as a result of Northstar failing to pay principal and interest that became due on March 29, failing to comply with financial covenants of the credit agreement and making some restricted payments, among other things.

Northstar Healthcare Acquisitions and Northstar Healthcare Holdings, Inc. are also debtors in the Chapter 7 cases.

According to court documents, Nobilis has $100 million to $500 million in both assets and debt.

Houston-based Nobilis offers ambulatory and acute care health-care services. The Chapter 7 case number is 19-12264.

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