Preferred Care Nursing Homes Go Bankrupt After Lawsuits
By Rick Archer (November 14, 2017, 8:23 PM EST) -- Nursing home chain operator Preferred Care Partners on Monday filed for Chapter 11 protection in Texas, saying it and its affiliated nursing homes are being swamped under a wave of pending lawsuits and a recent $28 million injury verdict.
The company in court filings said it filed for bankruptcy due to an "overwhelming" number of personal injury suits, including a Kentucky state suit that resulted in a $28.5 million verdict in October and another 163 other pending personal injury suits aimed at the company and its affiliates.
"The future costs, expenses and potential exposure associated with defending the pending litigation has...
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