Several investment funds with ties to Texas billionaire Tim Headington are trying to push an unfinished Atlanta cancer treatment center into bankruptcy protection, the Wall Street Journal reported today. Lawyers for Zeitgeist Capital LLC and two other funds filed an involuntary bankruptcy petition on Friday for the partially built Emory Proton Therapy Center, stating in court documents that the funds are owed more than $8.2 million. The filing in U.S. Bankruptcy Court in Wilmington, Del., sets a 20-day timeline for Emory Proton Therapy Center officials to respond to the involuntary case. They didn’t respond to requests for comment Monday. The 107,000-square-foot center, which broke ground in 2013, is scheduled to open in late 2017 and would be the third center developed by California-based Advanced Particle Therapy LLC to begin treating cancer patients. Advanced Particle Therapy officials have raised more than $750 million for their proposal to build four cancer treatment centers across the country but still need at least $110 million, court papers said.
