Steward Health Wins Court Approval of Bankruptcy Wind-Down Plan

Bankrupt Steward Health Care System LLC won approval of a bankruptcy plan that sets up a trust to pursue potentially billions of dollars in claims for creditors.

Judge Christopher Lopez said he would approve the plan to liquidate and wind down the fallen health-care network giant at a hearing Wednesday in the US Bankruptcy Court for the Southern District of Texas.

Steward was once the largest privatized health-care network in the country before it filed for Chapter 11 last year.

The plan transfers Steward’s potentially valuable claims, which Lopez said could yield more than $2 billion in the next year, ...