Experience

Promise Healthcare Group, LLC and certain of its affiliates filed for Chapter 11 bankruptcy protection in November 2018. As of the petition date, the Promise debtors operated two short-term acute care hospitals, fourteen long-term acute care hospitals, and two skilled nursing facilities and had over $200 million in assets and over $350 million in liabilities, including over $68 million in secured funded debt and over $200 million in secured funded intercompany debt.

Waller negotiated the sale of almost twenty general medical-surgical and long term acute care hospitals and skilled nursing facilities. Waller also negotiated a settlement between the official committee of unsecured creditors and the ultimate beneficiaries of Promise’s intercompany debt, allowing the Debtors to propose and confirm a plan of liquidation that will yield significant recoveries for unsecured creditors.