Bankrupt Miami Hospital Works Toward OK For Auction Plans

Law360 (May 14, 2018, 9:02 PM EDT) -- A Florida bankruptcy judge on Monday gave parties in the Chapter 11 case of a shuttered Miami hospital an extra week to iron out some issues before she weighs approval of bidding procedures and other issues surrounding its planned sale.

The official committee of unsecured creditors in the bankruptcy of Miami International Medical Center LLC, which operated as The Miami Medical Center, has raised concerns that the proposed bid procedures and a proposed stalking horse asset purchase agreement “rush to unduly favor” Variety Children's Hospital, which is not only the stalking horse bidder but also an “insider” as an affiliate of...

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