Interfaith Medical Center to Emerge from Bankruptcy with Otterbourg Partner as Restructuring Officer
March 26, 2014
Brooklyn hospital, Interfaith Medical Center has filed a plan of reorganization with the Bankruptcy Court to emerge from Chapter 11. Interfaith, its major creditors and officials from the state health department and the Dormitory Authority of New York State worked out a deal in an effort to save the hospital. Reached after a court-ordered mediation, the plan of reorganization is seen as the best chance for saving the hospital in some form, reported Crain's New York Business.
Under the plan, Melanie Cyganowski would become the hospital's chief restructuring officer. She is a partner at Otterbourg in its creditors' rights and insolvency group and is the former United States Chief Bankruptcy Judge for the Eastern District of New York.
See the full article from Crain's New York here.