Bankrupt Steward Health Care System LLC is working to monetize its remaining assets while trying to negotiate a consensual liquidation plan, a company lawyer told vendors with concerns about being paid.
The failed private health-care network needs a little time but believes it can put together a plan to wind down in Chapter 11 and pay out lenders and priority creditors, Steward attorney David Cohen of Weil Gotshal & Manges LLP said at a status hearing Friday in the US Bankruptcy Court for the Southern District of Texas. He didn’t offer a firm timeline for a plan proposal.
The company ...
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