The trustee in the bankruptcy of Hutcheson Medical Center is asking a judge to authorize the sale of financially ailing Fort Oglethorpe Hospital at auction, the Chattanoogan reported today. Trustee Ronald Glass said there would be more value if the hospital is sold as a going concern (still operating) rather than it having closed due to mounting debt. He is proposing that bidders for the hospital and its assets, including a nursing home and a surgery center, be pre-qualified to determine that they have the financial ability to make the acquisition and the ability to operate the facility. There would be an auction date set that would be attended by only qualified bidders, the trustee, Regions Bank, the creditors’ committee and attorneys. The motion says that it is anticipated that a winning bidder would want to retain current Hutcheson employees, but that is not a requirement. Read more.
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