NJ Hospital Gets Go-Ahead For Liquidation Plan

Law360, New York (June 05, 2013, 7:18 PM ET) -- Bankrupt New Jersey medical center Christ Hospital got the green light to exit bankruptcy Tuesday when a federal judge confirmed its Chapter 11 liquidation plan.

U.S. Bankruptcy Judge Morris Stern gave his approval to the hospital's plan just more than 16 months after the Jersey City, N.J., facility filed for Chapter 11 protection amid large pension obligations, an increasing Medicaid population and unfavorable agreements with insurance companies.

The plan hinged on the sale of the 367-bed facility to Hudson Hospital Holdco LLC for $45.3 million, a...
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