Florida Medicare and Medicaid provider Universal Health Care Group Inc. is arguing for the right to stay in chapter 11 bankruptcy against the wishes of its secured lender, Dow Jones DBR Small Cap reported today. The company said in court documents that it plans to sell its assets quickly in bankruptcy to protect their value, not diminish it. BankUnited NA asked the court to throw out Universal's chapter 11 case last week, saying that if the company is allowed to stay in chapter 11, the value of the assets securing its $36.5 million in notes would be "vaporized."
