Quote:
Originally Posted by CoachKandSportsguy
The CMS penalties may not get discharged through bankruptcy, and TVH just goes belly up financially. . without a buyer, thereby eliminating physician coverage.
good luck to us in TV!
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Generally, Bankruptcy sales are "asset sales", not the sale of a corporation. I'm far from an expert on Bankruptcy, but every business we've bought out of bankruptcy, were asset sales.
In this case, the anticipated "sale" came before the Bankruptcy, which may have influenced the Bankruptcy court, to continue down that road as a corporate sale ...which generally includes assets & liabilities.
It seems if the proposed sale were to transform into an asset sale, a lot of the issues go away. The liabilities don't attach to the sale and the proceeds are held by the Bankruptcy Judge, to be used as he determines.
As TV Health apparently has limited assets (essentially, only its patient base), it seems this would be a logical way to go.