Far Rockaway, N.Y.-based Peninsula Hospital is working with the official committee of its unsecured creditors to file a joint reorganization plan by this week, according to a Deal Pipeline report.
If a joint plan does not pass, the committee is expected to file a competing plan, according to the report.
Peninsula Hospital has been working with its creditors to figure out a way to keep the hospital open over the past several months. Three creditors forced the hospital into Chapter 11 bankruptcy this past August.
Brooklyn-based Revival Home Health Care offered an $8 million line of credit to keep the hospital open in September, but creditors argued that Revival's proposal involved conflicts of interests, although there has been no evidence of fraud found between Revival and Peninsula Hospital.
If a joint plan does not pass, the committee is expected to file a competing plan, according to the report.
Peninsula Hospital has been working with its creditors to figure out a way to keep the hospital open over the past several months. Three creditors forced the hospital into Chapter 11 bankruptcy this past August.
Brooklyn-based Revival Home Health Care offered an $8 million line of credit to keep the hospital open in September, but creditors argued that Revival's proposal involved conflicts of interests, although there has been no evidence of fraud found between Revival and Peninsula Hospital.
Related Articles on Peninsula Hospital:
Peninsula Hospital Deal at Risk After Creditors Ask for Say in Restructuring
Peninsula Hospital Board Member Offers $5M Loan
Peninsula Hospital in New York May Not Meet Payroll After Dec. 26