Schafer and Weiner Sells Nursing Home Business in Chapter 11
June, 2016
Michael Baum, John Stockdale, Jr. and Kim Hillary helped a debtor sell a Detroit nursing home in a chapter 11 bankruptcy auction process. The auction was spirited and involved multiple bidders, thereby increasing the sale price beyond the initial bid. Further, the sale was complex, and it involved bed licenses, real estate and Medicare and Medicaid licensure issues. Following the sale of the business, the Debtor dismissed its chapter 11 bankruptcy case.