Chemical Dependency

Brotman Medical Center Facilitates Restructuring Through Chapter 11 Filing

Published in Hospital Law Weekly, November 15th, 2007

Brotman Medical Center, a privately held, 420-bed medical center serving the West Los Angeles area, announced that it has filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the Central District of California in Los Angeles.

In connection with the filing, Brotman Medical Center is in the process of finalizing a new debtor-in-possession (DIP) revolver in the amount of approximately $19.6 million to be provided by its pre-petition secured lender, which is subject to final agreement and Court approval. The DIP financing facility is designed to permit the hospital to fund its working capital needs during the Chapter 11 case, including obligations...

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Source: Hospital Law Weekly (2007-11-15)

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