Appeals court denies Hazel Hawkins Chapter 9 bankruptcy protections
Appeals court denies Hazel Hawkins Chapter 9 bankruptcy protections
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AGREEMENT HAS TO BE APPROVED BY THE HEALTHCARE BOARD.. CALLING IT A HISTORIC VOTE, THEY SAY PAVES THE WAY FOR A REVITALIZED HOSPITAL.. LEADERSHIP AT HAZEL HAWKINS HOSPITAL IS DECLARING A VICTORY ON MEASURE X (:26 WE ARE EXCITED THAT WE NOW HAVE THE OPPORTUNITY TO MOVE FORWARD :29 WITH A POTENTIAL DEAL WITH SOMEBODY THAT CAN COME IN HERE AND HELP HEALTH CARE IN SAN BENITO COUNTY :37) HOSPITAL CEO MARY CASILLAS SAYS THE PROCESS NOW BEGINS TO SPELL OUT THE DEFINITIVE TERMS OF A 5 YEAR LEASE AND ULTIMATELY SALE OF THE HOSPITAL.. TERMS TO INCLUDE A 60- MILLION DOLLAR SALE PRICE, RETAINING 90 PERCENT OF THE WORK FORCE, AND KEEPING KEY PATIENT SERVICES.. NEGOTIATIONS COULD TAKE TWO MONTHS.. (MARY 5:44 THE PEOPLE HAVE SPOKEN,:46 AND THEY HAVE GIVEN THE BOARD DIRECTION AND AUTHORITY TO GO AHEAD AND SELL. SO :53 I'LL NEVER SAY THAT THERE'S NOT OTHER BARRIERS IN FRONT OF US, BUT WE FEEL WE HAVE REALLY DONE EVERYTHING WE CAN TO TAKE ALL THE CORRECT STEPS HERE :04) T-2 EVEN THOUGH VOTERS GAVE THE GREENLIGHT FOR A SALE.. IT'S NOT A DONE DEAL.. ANY AGREEMENT MUST BE APPROVED BY THE BOARD OF THE SAN BENITO HEALTHCARE DISTRICT.. (KOLLIN 1:41 SO THERE'S A LOT OF WORK TO DO. AND I WOULD JUST HIGHLY ADVISE THAT THE HEALTH CARE DISTRICT BOARD ABSOLUTELY DOES NOT RUSH THROUGH ANYTHING THAT THEY INVOLVE THE PUBLIC, THAT THERE'S FULL TRANSPARENCY AND THAT WE REALLY WORK TO GET THE BEST DEAL POSSIBLE IF THERE IS GOING TO BE A DEAL HERE :54) THIS PAST ELECTION TWO NEW BOARD MEMBERS WERE ELECTED.. ONE SUPPORTING A SALE, THE OTHER OPPOSED.. THAT COULD ADD A NEW DYNAMIC TO ANY NEGOTIATIONS.. OPPONENTS OF A SALE.. NOT RULING OUT POTENTIAL LEGAL ACTION.. OR A RECALL OF SOME BOARD MEMBERS.. IF A SALE GOES THROUGH.. TAXPAYERS WILL STILL BE FUNDING A HEALTHCARE DISTRICT.. (4:30 YOU'RE GOING TO KEEP PAYING TAXES INTO THIS HOSPITAL BECAUSE UNDER THIS ARRANGEMENT THE DISTRICT WOULD REMAIN IN PLACE. THEREFORE, THEY'RE STILL A PUBLIC ENTITY THAT'S COLLECTING TAXES. AND THOSE TAXES ARE GOING TOWARD A PRIVATE COMPANY FROM FLINT, MICHIGAN, WHICH WILL BE REAPING REAPING MILLIONS OF PROFITS OFF OF IT :45) HOSPITAL CEO MARY CASILLAS.. PROMISING ANY DISCUSSION ON THE LEASE AND SALE OF HAZEL HAWKINS.. WILL PLAY OUT IN A PUBLIC FORUM.
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Appeals court denies Hazel Hawkins Chapter 9 bankruptcy protections
An appeals court has upheld a decision denying Hazel Hawkins Memorial Hospital Chapter 9 bankruptcy protections, citing the success of the hospital's turnaround efforts.The appeals court and bankruptcy court acknowledged that the hospital was financially distressed before bankruptcy but pointed to the success of the hospital's turnaround efforts as the reason Chapter 9 is no longer eligible.The hospital says bankruptcy allowed them to achieve several important steps, including maintaining full operations and preserving jobs. See more coverage of top Central Coast stories | Download our app / Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel
HOLLISTER, Calif. —
An appeals court has upheld a decision denying Hazel Hawkins Memorial Hospital Chapter 9 bankruptcy protections, citing the success of the hospital's turnaround efforts.
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The appeals court and bankruptcy court acknowledged that the hospital was financially distressed before bankruptcy but pointed to the success of the hospital's turnaround efforts as the reason Chapter 9 is no longer eligible.
The hospital says bankruptcy allowed them to achieve several important steps, including maintaining full operations and preserving jobs.
See more coverage of top Central Coast stories | Download our app / Subscribe to our morning newsletter | Find us on YouTube here and subscribe to our channel