Tort Plaintiffs Blast Gulf Coast’s Ch. 11 Plan as Unfair

By Rick Archer (April 29, 2022, 9:11 p.m. EDT) — Parties with tort claims against Gulf Coast Health Care have strongly criticized the nursing home chain’s proposed Chapter 11 plan, saying in closing arguments Friday that they were wronged for the benefit of company insiders.

Four days of virtual hearings on the Gulf Coast plan have ended with representatives of tort plaintiffs alleging unfair creditor classifications and incorrect vote counts as they urge US Bankruptcy Judge Karen Owens to throw out the plan.

Gulf Coast and more than 60 affiliates filed for bankruptcy in October 2021, intending to enter into a restructuring support agreement with owner Omega Healthcare Investors Inc. and senior secured lender New Ark Capital…

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