How Nonprofit Fiduciary Duties Impact  Healthcare Restructuring
“Where was the board during this?” is not a question any nonprofit board member wants to hear, but it is one that is often asked. Thus, what are board members’ responsibilities during a distressed nonprofit healthcare organization’s search for a financial solution? This article focuses on nonprofit...
The Role of the Receiver in Senior Living Communities
The pandemic has intensified many of the pressures the senior living sector was already facing, including declining census, and workforce, regulatory, and reimbursement challenges. Many senior living facilities saw their revenues decline as occupancies decreased while at the same time contending...
The Treatment of  MAAP  Payments in Bankruptcy
The Medicare Accelerated and Advance Payments Program (MAAP) allows the Centers for Medicare and Medicaid Services (CMS) to accelerate payments to Medicare providers and suppliers to help offset financial losses due to a disruption in claims processing or during a public health emergency such as...
Treatment of Healthcare Company Provider Agreements Is Key in Chapter 11 Bankruptcy Sales
Many healthcare companies, both for-profit and nonprofit, are facing increasing financial distress, causing many of them to seek relief under Chapter 11 of the U.S. Bankruptcy Code to restructure their financial obligations, sell substantially all of their assets, or implement an orderly plan of...
Challenged Senior Housing Sector Struggles to Endure a Pandemic
Senior housing is vast sector of the healthcare industry consisting of numerous providers, both taxable and tax-exempt, ranging from independent living housing to skilled nursing homes to comprehensive life plan communities and just about everything in between. Operators and capital sources have...
The CARES Act: Savior or Continuing Curse?
During the summer of 2021, the United States began to tentatively emerge from the COVID-19 pandemic, a dynamic that was supported thanks to hospitals nationwide benefiting from payments received in accordance with the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As of April 2021, an...
Adding DE&I to the Turnaround Toolkit
At the core, the overarching goal of every turnaround or corporate restructuring, whether in or out of court, is to maximize enterprise value. When determining how best to accomplish that objective, enterprise leaders, together with their advisors, evaluate a variety of operational, legal, and...
Recent Delaware Decision Affirms Utility of Consent Rights
Anyone who is considering lending to, investing in, or partnering with a company must also consider how to protect their interests and rights after the transaction closes. How can a lender, investor, or partner ensure that its funds or other contributions are being used only as intended,...
Retail’s Next Wave of Challenges: Inflation, Labor, and Supply Chain
In recent months, retailers seem to be on a stronger footing but continue to face challenges spurred by the impacts of the pandemic. These impacts—labor shortages, supply chain issues, unpredictable inventory levels, and inflation—have created a rocky terrain for the retail landscape. By...
The New Normal: Impact of the Global Pandemic on U.S. Restructurings
The U.S. experienced the lowest total number of bankruptcy filings since 1986 last year, including individuals filing for bankruptcy, a somewhat surprising statistic given the devastating impact of the pandemic-driven shutdowns across the United States and around the world. Bucking that trend,...