Eye of the tiger: distressed workouts are nigh

European quarterly institutional loan volume activity in €bn (estimated). Source: Pitchbook | LCD Data through March 11, 2024 It is fairly well known in our circles at least that loan-to-own distressed debt investors have been raising capital to purchase debt positions as a pathway to taking ownership of financially stressed companies via debt-for-equity swaps, and…

Struggling N.J. hospital chain won’t go bankrupt. Another hospital is taking over.

Hudson Regional Hospital has officially taken control of Hudson County’s struggling CarePoint Health System, establishing a new, countywide health network. On Friday, a federal bankruptcy court judge confirmed CarePoint’s plan to exit bankruptcy and hand over control of its three hospitals ― Christ Hospital in Jersey City, Bayonne Medical Center and Hoboken University Medical Center…

Black Country GP surgery owner who pocketed £75,000 of staff’s pension contributions declared bankrupt

The Official Receiver’s investigation found Sonia Simkins failed to pay £75,000 into the NHS pension fund despite diligently deducting contributions from staff.  Simkins, 54, of Foxglove Way, Dudley, ran Hawes Lane Surgery in Rowley Regis as a sole trader leaving the practice vulnerable to her disastrous financial decision-making. In July last year, 4,000 shocked patients…