NJ Hospital Trustee Blames Losses On Exec Negligence, Fraud

Law360, New York (March 21, 2013, 7:18 PM EDT) -- The liquidating trustee for the former operator of Hoboken University Medical Center accused its top brass and accounting firms of mismanaging it into bankruptcy and orchestrating fraudulent transfers that deprived creditors of recovering money they were owed, according to a New Jersey federal court suit filed Wednesday.

Bernard A. Katz, the liquidating trustee for the nonprofit Hudson Healthcare Inc., which operated Hoboken’s sole acute-care hospital from 2007 to 2011, claims Hudson’s CEO Harvey Holzberg, Chief Financial Officer Ron DiVito, board of directors and its accounting firms...
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