Last year was the busiest in recent years for Chapter 11 bankruptcy cases involving health-care businesses (as defined in the Bankruptcy Code) with assets greater than $10 million. While Q1 2024 didn’t break any records for health-care Chapter 11 cases, 2024 still may prove to be another busy year for distressed health-care businesses seeking relief in Chapter 11.
There were five cases in Q1, 11% higher than the quarterly average since Q1 2018 of 4.56 cases, and well above Q1 2023’s three.
The Bankruptcy Code’s definition of “health care business” has been interpreted to include hospitals, nursing homes ...
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