Hawaii Medical Center

Representation of the creditors’ committee in the chapter 11 case of Hawaii Medical Center, a nonprofit hospital system in Honolulu. The committee objected to an initial plan by the hospitals that proposed to give nothing to unsecured creditors and negotiated a modification of the plan that would provide unsecured creditors with a pro rata share of a liquidating trust. Ultimately, however, the debtors were not able to attract a buyer that was satisfactory to their secured lenders, resulting in all major constituencies in the case agreeing to an orderly winddown of the hospitals.