Liquidating Plan Confirmed in Victor Valley Community Hospital; Creditors to Be Paid in Full With Interest
May 2011
On Tuesday, May 17, 2011, Judge Bauer confirmed the liquidating plan of Victor Valley Community Hospital over the objections of the U.S. Trustee, Prime Healthcare Foundation, and Desert Valley Hospital. Although the pending sale of the hospital to Victor Valley Hospital Acquisition must still close in order to fund the plan, this is an important step towards the preservation of this important community healthcare asset. The sale is expected to close on or about May 31, 2011. The case was commenced on September 13, 2010. The plan provides that creditors will be paid in full, with interest.
Victor Valley Community Hospital's chapter 11 case is pending in Central District of California Bankruptcy Court in Riverside, California.