Trustee Wants Universal Health Care To Move To Ch. 7
By Matt Chiappardi
Law360, New York (May 8, 2013, 4:14 PM EDT) -- The Chapter 11 trustee overseeing Universal Health Care Group Inc.’s bankruptcy case asked Tuesday for the proceedings to be converted to Chapter 7 liquidation after the health maintenance organization, which is also the subject of a federal fraud investigation, tried to sell the business but couldn’t close the deal.
Trustee Soneet R. Kapila filed his motion in the U.S. Bankruptcy Court for the Middle District of Florida, noting that Florida-based Universal Health didn’t have any money to continue operating.