July 08, 2025
About two dozen physician practices linked to bankrupt healthcare company Prospect Medical have filed for Chapter 11 protection in Texas, days after Prospect sold some of the entities' assets to Astrana Health Inc. for $708 million.
June 26, 2025
The U.S. Trustee's Office opposed Prospect Medical's Chapter 11 plan disclosure on the grounds that the plan can't be confirmed because of its release provisions; hospital operator Steward Health Care's former captive insurer appealed a bankruptcy judge's decision to OK a settlement Steward struck with secured lenders; and Celsius Network asked a federal judge to let its lawsuit targeting blockchain analysis company Chainalysis Inc. continue.
April 30, 2025
Bankruptcy Code provisions that allow creditors who make substantial contributions to be reimbursed for costs don't cover Prospect Medical's pre-Chapter 11 investment banker, a Texas bankruptcy judge said Wednesday, rejecting a finance firm's bid for a $5 million sale fee.
April 28, 2025
Talc producer Imerys is nearing Chapter 11 plan confirmation after a trial commenced; a plan administrator for Celsius moved to impose sanctions in another crypto firm’s bankruptcy; and Prospect Medical secured court approval to close two facilities.
April 22, 2025
A Texas bankruptcy judge on Tuesday approved Prospect Medical Holdings' request to close two Pennsylvania hospitals after the bankrupt operator was unable to secure another entity to run the hospitals despite support from government and community organizations to keep them open.
April 10, 2025
Hospital operator Prospect Medical has scored $6 million in financing to temporarily stave off the closure of three Pennsylvania hospitals, the debtor's counsel told a Texas bankruptcy judge Thursday.
March 24, 2025
Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 million, with the help of a nonprofit, as the parties continue negotiations.
March 19, 2025
A Texas bankruptcy judge on Wednesday approved a settlement between hospital operator Prospect Medical Holdings Inc. and landlord Medical Properties Trust Inc. that allows the debtor to launch a sale process for its facilities in California and Connecticut and borrow $25 million to fix earthquake damage.
March 17, 2025
Yale New Haven Health Services Corp. is questioning whether bankrupt hospital owner Prospect Medical Holdings Inc.'s attempt to sell its three Connecticut facilities through a Texas Chapter 11 proceeding will affect Yale New Haven's rights under a $435 million asset purchase agreement covering the same properties.
March 11, 2025
California-based hospital operator Prospect Medical Holdings Inc. agreed to delay its emergency motion to close three hospitals in Pennsylvania after it reached a two-week funding deal with the Foundation of Delaware County.