Nursing Home Biz Gets Nod For Ch. 11 Facility Sale Plans

By Vince Sullivan (February 10, 2022, 6:30 PM EST) -- Nursing home chain American Eagle Delaware Holding Co. LLC gained approval from a Delaware bankruptcy judge Thursday for a sale plan that will allow it to select a stalking horse bidder by the end of the month with hopes of closing a sale on a Florida property in April.

During a videoconference, U.S. Bankruptcy Judge J. Kate Stickles said she believed the proposed bidding procedures offered the best chance for the debtor to complete a value-maximizing sale of its Vista Lake assisted living facility in Florida and approved the timeline and plan for the transaction.

"Given the lead-up to today and the...

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