Grant Thornton served as interim management in one of the largest and most complex bankruptcy proceedings in U.S. history – the second bankruptcy of Saint Vincent Catholic Medical Center, a historic New York City hospital system founded in 1849.
Despite the complex bankruptcy and asset structure, with Grant Thornton’s help, Saint Vincent’s Chapter 11 plan provides for a 100 percent recovery for administrative, priority creditors and secured lenders; and a substantial recovery by the employees and pensioners. Saint Vincent also successfully consummated several going-concern sales of its health care services — preserving critical patient care in the communities served by the hospital system.
Read the case study to learn more about how Grant Thornton helped St. Vincent achieve these winning results positive results.
