January 24, 2008
Court considers plan for sale of troubled nursing home chain
A federal bankruptcy judge is considering a plan that could result in the sale of the financially troubled Haven Healthcare nursing home chain.
Attorney General Richard Blumenthal says a $50 million loan is the main component of a plan to stabilize the chain, making it more marketable to investors and companies that have expressed a strong interest in buying some or all of the homes.
The plan calls for a bidding process to be approved by U.S. Bankruptcy Judge Albert S. Dabrowski by April 1 and for the auction of the homes by May 23.
Haven Healthcare filed for bankruptcy protection in November.
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