Delaware Drug, Mental Health Provider OK'd For $12.5M Sale
Law360 (June 8, 2021, 9:49 PM EDT) -- A Delaware bankruptcy judge Tuesday approved drug and mental health provider Connections Community Support Programs Inc.'s $12.5 million asset sale to its stalking horse bidder, which the organization says will preserve its programs.
At a virtual hearing, U.S. Bankruptcy Judge Mary Walrath approved the sale after hearing that the provider had turned down a higher offer for part of its programs because the higher bidder was unwilling to take on an in-patient program with three dozen residents.
"Every single program and every single patient will be transferred," company investment adviser J. Scott Victor said at the hearing.
Connections Community Support Programs,...
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