Natchez Regional, debtors nearing agreement
Published 12:00 am Wednesday, August 27, 2014
NATCHEZ — Natchez Regional Medical Center could reach an agreement with its debtors later this week, the hospital’s attorney said Tuesday.
The federal bankruptcy court overseeing the hospital’s case was set to have a hearing about the hospital’s plan for paying its unsecured creditors Tuesday, but were given more time because the hospital and the committee representing the creditors were close to a consensual agreement, NRMC attorney Walter Brown said.
A consensual agreement is one in which all parties in the bankruptcy agree to the terms.
“The bankruptcy attorneys for the hospital will be presenting a consensual order to the court Thursday or Friday, assuming they can reach an accord,” Brown said.
Once the order is presented to the court, the creditors will have to vote on the matter.
On Sept. 29, the court will have a confirmation hearing during which the court will count the ballots and affirm the plan, Brown said.
The confirmation needs to happen on Sept. 29 because the close of the sale of the county-owned hospital to Community Health Systems has been planned for Sept. 30, he said.
The ongoing negotiations will not affect the Sept. 11 date set for the public auction of the hospital, at which CHS — which has already committed to an $18 million base bid — will be the presumed only bidder, Brown said.