Hospital District In Calif. Files Chapter 9
West Contra Costa Healthcare District, a hospital district that serves the East San Francisco Bay region filed for bankruptcy, claiming it had at least $50 million in debts. The filing Sunday will allow the hospital to line up new financing, attorneys said. Mercurynews.com reports:
"The filing of the case activates something called an ‘automatic stay,’ a federal injunction that prohibits creditors from collection efforts from this day forward," said Andrea Porter, a San Francisco attorney representing the health care organization. "We have a whole new ball game today."
Read more: East Bay hospital chain files for bankruptcy protection
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