Jilted Buyer Objects To Promise Healthcare's New Ch. 11 Sale

Law360 (August 19, 2019, 8:22 PM EDT) -- A company that was set to buy two of Promise Healthcare Group LLC’s hospitals told the Delaware bankruptcy court Monday that the bankrupt hospital operator should not be allowed to finalize the $22 million sale of the properties to another buyer.

In an objection filed in U.S. Bankruptcy Judge Christopher S. Sontchi’s court, Lexmark Holdings LLC asserted that Promise has not given it enough chance to close on its roughly $24 million purchase of the two Louisiana facilities, the only two left to be sold in the Chapter 11.

Lexmark said it “objects to the amended sale process proposed by debtors’...

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