Nursing Home Chain Wants To Trim $40M Bond Debt In Ch. 11

By Rick Archer (January 14, 2022, 5:39 PM EST) -- A Michigan-based nursing home chain blamed COVID-19 for its Friday Chapter 11 filing in a Delaware bankruptcy court and said it has a plan to trim $40 million from the nearly $235 million in debt left from when the company was founded four years ago.

In its first-day filings, American Eagle said it has struck a deal with its bondholders to refinance a significant part of its debt as it deals with the rising costs and falling occupancy the pandemic has brought to its 15 nursing facilities.

"Today's announcement brings us closer to securing a stronger financial future for Eagle Senior...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!