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Foundation Healthcare Bankruptcy Plan Summarized

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BankruptcyData’s detailed analysis and summary of Foundation Healthcare’s First Amended Joint Chapter 11 Plan of Liquidation, dated August 9, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on September 11, 2017; however, an effective date has not yet been issued.

BankruptcyData notes, “The majority of the Debtors’ assets were foreclosed upon prior to the filing of the Cases. The Plan provides for the liquidation of the Debtors’ remaining assets, including the pursuit of Causes of Action, and the distribution of the net proceeds to holders of Allowed Claims.” BankruptcyData’s Plan Summary continues, “The Liquidation Analysis for the Debtors estimates the Net Value of Assets Available for Secured Claims to be $ 1.08 million and a Total Estate Deficiency of (7.95) million.”

BankruptcyData’s premium subscribers receive access to the full summary, which provides further details on corporate background, events leading to Foundation Healthcare’s June 21, 2017 Chapter 11 filing, recovery specifications and a comprehensive break-down of all claimant classes.

Read more bankruptcy news.

The post Foundation Healthcare Bankruptcy Plan Summarized appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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