The operator of the Amsterdam at Harborside, calling itself the “first and only” licensed continuing-care retirement community in Nassau County, N.Y., won approval of a reorganization plan last week negotiated before bankruptcy with holders of about 75 percent of outstanding revenue bonds and bond trustee UMB Bank NA (In re Amsterdam House Continuing Care Retirement Community Inc., Bankr. E.D.N.Y., 14-73348, plan confirmed 10/23/14).
A bankruptcy judge in Central Islip, N.Y., signed a confirmation order on Oct. 23 approving the Chapter 11 plan. All creditor classes voted in favor of the plan.
A principal feature of the plan ...
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