Specialty Hospital Of America Enters Ch.11 With Sale Plan

Law360, New York (May 22, 2014, 3:13 PM ET) -- Specialty Hospitals of America LLC filed for Chapter 11 protection in New York bankruptcy court on Wednesday, announcing its plans to sell all of its assets in exchange for a $15 million debtor-in-possession loan from Silver Point Capital, which will allow it to continue operating through the bankruptcy process.

The company, which operates nursing home facilities and long-term acute care hospitals, filed on behalf of its subsidiaries Specialty Hospital Of Washington LLC, Specialty Hospital of Washington Nursing Center LLC and Specialty Hospital of Washington Hadley LLC,...
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