Healthcare Management Partners, LLC was appointed as a receiver to control and administer a 24-bed specialty care assisted living facility and a 101-bed assisted living facility commonly known as River Highlands by the Circuit Court of Jefferson County, Alabama. Healthcare Management Partners ran a court-approved stalking horse auction process where the sole bondholder served as the stalking horse purchaser and the owners of the River Highlands facility were permitted to pay off the bonds in full prior to the auction. Prior to the auction the owners of the River Highlands facility obtained additional financing and paid off the bonds and expenses of the receivership in full. The receivership was completed within ten months of the appointment.
Waller represented Healthcare Management Partners as its general counsel and assisted the receiver in its administration and operation of the facility pending its sale. Waller also represented the receiver in conducting the court-approved stalking horse auction process. This is one of several receiverships Waller has assisted Healthcare Management Partners with in the last few years.
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