Martin Oliner, a board member of Far Rockaway, N.Y.-based Peninsula Hospital, has offered a $5 million loan to finance the bankrupt hospital, according to a Crain's New York Business report.
Recently, there have been conflict-of-interest concerns regarding Revival Home Health Care, which agreed to extend a line of credit to the hospital in September. A U.S. trustee raised conflict-of-interest allegations about whether Revival's proposed transaction is in the best interest of all creditors, according to the report.
Mr. Oliner's loan was funded from "associates and family members." If the loan offer is approved, the hospital could meet payroll at the end of the month.
Recently, there have been conflict-of-interest concerns regarding Revival Home Health Care, which agreed to extend a line of credit to the hospital in September. A U.S. trustee raised conflict-of-interest allegations about whether Revival's proposed transaction is in the best interest of all creditors, according to the report.
Mr. Oliner's loan was funded from "associates and family members." If the loan offer is approved, the hospital could meet payroll at the end of the month.
Related Articles on Peninsula Hospital:
Peninsula Hospital in New York May Not Meet Payroll After Dec. 26
New York State Regulators Probe Peninsula Hospital's Governance
Home Health Company to Lead Turnaround of New York's Struggling Peninsula Hospital