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Creditors Split on Future of Bankrupt Pontiac Hospital

Submitted by jhartgen@abi.org on

The future of Doctors' Hospital of Michigan in Pontiac will remain uncertain for at least another week after creditors failed yesterday to reach a conclusive vote on competing bankruptcy reorganization plans for the long-struggling hospital, the Detroit Free Press reported today. None of the three rival plans for buying the hospital out of bankruptcy attracted enough votes from the hospital's nearly 700 creditors to win confirmation by the U.S. Bankruptcy Court in Detroit. Judge Walter Shapero said that the creditors had questions about the feasibility of all three plans that will need hearings to resolve. A tightly packed series of court dates is scheduled for next week in hopes of confirming one of the two still-competing plans by Christmas Eve. The backer of a third reorganization plan backed out yesterday because of the plan's low vote tally.