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Positive step

Borrello’s lawyer says bankruptcy ‘right path’ for Lake Shore Hospital sale

December 3, 2013

By NICOLE GUGINO OBSERVER Assistant News Editor IRVING — Bankruptcy may sound like a bad thing for Lake Shore Hospital, but according to Barry Corvert, lawyer for local businessman Tony Borrello,......

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Dec-03-13 3:04 PM

Chapter 11 allows them to suspend payments to vendors during “the reorg” – which keeps them from losing money as LSH is prepared for sale. Somewhat like the CCH sale including receivables, the LSH sale will include debt/obligations.

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Dec-03-13 11:15 AM

By the way, a very informative article on the front page of the Buffalo News this morning that pretty much says what I tried to say in my last printed but gutted article in the Observer about the corporatization of healthcare. It applies very strongly to LERHSNY.

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Dec-03-13 8:18 AM

so by filing chapter 11, assets have to listed along with liabilities(debt)information becomes public record, taking away rumors and false claims from both sides and the court not board decides what to do with assets

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Dec-03-13 6:11 AM

And FINALLY an article by the Observer on this subject and it would appear they may have actually talked to a live body involved other than LERHSNY employees.

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Dec-03-13 5:55 AM

We shall see.

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