Orianna Health Systems LLC is “within striking distance” of a broad settlement that could resolve considerable opposition to its chapter 11 restructuring plan, its lawyer said yesterday, WSJ Pro Bankruptcy reported. During a hearing at the U.S. Bankruptcy Court in Dallas, Orianna attorney Thomas Califano told Judge Harlin DeWayne Hale the nursing-home operator is closing in on a resolution to the contentious case with the help of a mediator. Judge Hale approved the appointment of a mediator, retired bankruptcy judge Bruce Markell, earlier this month, hoping he could help Orianna, its landlord, creditors and the restructuring plan’s sponsor work out their remaining differences. Califano said that he expects to have an update for Judge Hale by Friday. Earlier this month, Orianna held an auction for about half of its nursing facilities. Court papers say that the lead bidder, SC-GA 2018 Partners LLC, came out on top after several rounds of bidding.
