HCR ManorCare Gets Consensual Plan Confirmation

Law360, Wilmington (April 13, 2018, 9:22 PM EDT) -- Bankrupt long-term assisted living provider HCR ManorCare Inc. coasted through a hearing Friday in Delaware where it received court approval for its Chapter 11 plan of reorganization with no outstanding objections.

During the hearing in Wilmington, debtor attorney Dennis M. Twomey of Sidley Austin LLP said the proposed plan to exchange $445 million in overdue rent obligations owed to the master lessor for most of its properties — Quality Care Properties — for the equity of a reorganized company took months of planning to get to...
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