St. Vincent's Lands $34M Starting Bid For Nursing Unit

Law360, New York (July 1, 2011, 5:37 PM EDT) -- A New York bankruptcy judge on Thursday approved a $34 million stalking horse bid for Saint Vincent Catholic Medical Centers' nursing home operations in Staten Island, paving the way for a July 28 auction.

U.S. Bankruptcy Judge Cecelia G. Morris approved the auction and bid procedures, which call for the stalking horse bidder — SV Operating Three LLC and SV Land Three LLC, which are controlled by nursing home operator Kenneth Rozenberg — to pay $19 million for St. Elizabeth Ann’s Health Care & Rehabilitation Center...
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