St. Vincent's Resolves $7B In Claims So Far

Law360, New York (August 30, 2012, 5:46 PM EDT) -- St. Vincent's Catholic Medical Centers of New York has so far resolved $6.8 billion of the 4,900 claims worth $7.4 billion filed in its Chapter 11 case, an attorney for the company's liquidating trustee told a New York bankruptcy judge Thursday.

Updating Chief U.S. Bankruptcy Judge Cecelia G. Morris on the status of the case, Sarah Link Schultz of Akin Gump Strauss Hauer & Feld LLP said about $500 million of the resolved claims had been paid. They are allowed secured administrative priority claims.

“We think...
To view the full article, register now.