How Nonprofit Fiduciary Duties Impact Healthcare Restructuring
By Louis E. Robichaux IV & Patrick D. Pilch, Senior Managing Directors, Ankura
“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...
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Louis E. Robichaux IV is a senior managing director in the Turnaround & Restructuring group at Ankura. Based in Dallas, he provides restructuring, crisis management, financial advisory, and expert witness services to parties in a broad variety of distressed corporate settings, with a significant emphasis on the U.S. healthcare industry. Current and former clients include providers, payors, secured creditors, unsecured creditor committees, governmental entities, trustees, and other parties in interest.
Patrick D. Pilch is a senior managing director in the Turnaround & Restructuring group at Ankura. Based in New York City, he provides strategic and financial advisory in the healthcare industry. Pilch has more than 30 years of experience in performance improvement, healthcare turnarounds, strategic planning, corporate finance, M&A, creditor relations, physician relations, governance, and debt restructuring. He has served as CFO, COO, and board advisor in healthcare restructuring matters and as a testifying expert in healthcare disputes.