Skilled Nursing News April 26, 2024
Petersen Health Care’s sale of a number of its nursing homes is facing delays as a creditor is calling into question the Illinois-based nursing home operator’s ability to file for bankruptcy.
According to an article in WCBU Peoria, the dispute centers around whether Petersen can file for bankruptcy on behalf of eight properties currently being managed by a court-appointed receiver, Michael Flanagan.
Petersen Health Care operates numerous nursing homes across Illinois, Iowa, and Missouri.
The creditor – X-Caliber Funding – objected to Petersen’s bankruptcy filing, arguing that the company cannot represent these properties in bankruptcy due to the receiver’s management. They raised trust issues and concerns about Petersen’s management record, citing instances of mismanagement and poor conditions at some facilities,...
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