NM Hospital Seeks Ch. 11 As Malpractice Suits Loom

Law360, San Diego (August 16, 2011, 9:54 PM EDT) -- Alamogordo, N.M.-based Gerald Champion Regional Medical Center announced Tuesday that it was seeking bankruptcy protection after failing to resolve a group of medical malpractice lawsuits.

The hospital, which is a 99-bed not-for-profit facility that provides health care services to more than 70,000 people, filed its petition under Chapter 11 in a New Mexico bankruptcy court, listing up to $500 million in assets and up to $100 million in liabilities.

The Gerald Champion board of directors authorized the filing to ensure the hospital’s immediate and long-term ability...
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