Judge Endorses Saint Vincent Commitment Letter

Law360, New York (March 9, 2007, 12:00 AM EST) -- A federal bankruptcy judge has approved a commitment letter between St. Vincent's Catholic Medical Centers and General Electric Capital Corporation, which has pledged to provide $300 million in exit financing to the embattled hospital system.

On Thursday, U.S. Bankruptcy Judge Adlai Hardin gave the letter a green light, formalizing the court’s decision on the debtor’s February 22 motion.

“It is ordered that the motion be granted and it is further ordered that the exit facility letters are approved," the judge’s opinion read.

The letter details a...
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