Tarrant County Senior Living cash use approved; plan hearing Dec. 19

By Caroline Salls

Pittsburgh, Nov. 12 – Tarrant County Senior Living Center, Inc. obtained court approval to use the cash collateral of municipal bond trustee UMB Bank, NA on an interim basis, according to an order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The final hearing is scheduled for Nov. 26.

The cash collateral will be used to fund Tarrant’s operations while in bankruptcy.

Tarrant’s access to the cash collateral will run through Feb. 29.

In addition, the court scheduled the combined hearing on confirmation of the company’s pre-packaged plan of reorganization and approval of the related disclosure statement for Dec. 19.

Addison, Tex.-based Tarrant operates a continuing care senior living community. The company filed bankruptcy on Nov. 5 under Chapter 11 case number 19-33756.

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