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.
Prior to the bankruptcy filing, Waller negotiated a series of forbearance arrangements with the Promise debtors' senior secured lender, negotiated a number of asset sales and prepared the company for bankruptcy filing, including the negotiation of debtor-in-possession financing. Waller also assisted with pre-filing strategy and drafting of various motions. Waller was extensively involved in contested matters and represented the debtors in certain hearings on contested matters.
Represented a specialty finance firm in structuring and closing a $15 million debtor-in-possession revolving credit facility to three acute care hospitals.
Serving as lead debtor's counsel to Promise Healthcare in its restructuring and pending bankruptcy.
Acted as financial advisory counsel to the trust company of a large financial services firm in their connection to the senior secured lenders in the Wisconsin Chapter 128 receivership Fortis Management Group, LLC and its affiliates.
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