US Can't Halt Payouts From LifeCare's $320M Sale To Carlyle

Law360, Wilmington (June 11, 2013, 9:38 PM EDT) -- A Delaware bankruptcy judge on Tuesday refused to freeze payments from the proceeds of LifeCare Holdings Inc.'s $320 million acquisition by Carlyle Group LP, rejecting the federal government's bid to keep the funds on ice while it appeals the deal.

Contending that the LifeCare sale leaves nothing for its administrative tax claim, the government challenged the hospital group's sale in district court, but U.S. Bankruptcy Judge Kevin Gross denied the request for a stay. The had government failed to demonstrate it had a strong likelihood of...
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Case Title

ICL Holding Company, Inc., et al.,


Case Number

1:12-bk-13319

Court

Delaware

Nature of Suit

Date Filed

December 11, 2012

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