Creditors, Agencies Say No To Gulf Coast Nursing Home Deal

By Rick Archer (November 18, 2021, 6:30 PM EST) -- Creditors and government watchdogs are asking a Delaware bankruptcy judge to deny nursing home chain Gulf Coast Health Care's request to transfer 24 of its facilities to its landlord in a Chapter 11 deal, saying the homes should have been put on the market.

In motions filed Wednesday, unsecured creditors, noteholders and the U.S. Trustee's Office all said Gulf Coast appears to have not even tried to find a better offer for the facilities before entering into the management and operations transfer agreement with the landlord as part of its overall restructuring agreement.

"The debtors will receive no cash under the...

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