Leaders for Dickinson County Healthcare System in Michigan yesterday motioned to start the process of declaring for bankruptcy, Upper Michigan’s Source reported. The hospital board authorized the hiring of bankruptcy counsel so it can file for chapter 11 reorganization; the hospital plans to remain open and continue services. The board’s attorney says he could have a recommendation of counsel by the end of this week. The hospital says it is roughly $20 million in debt, but there is no immediate concern for not making payroll. Many unknowns are with pensions, as many concerned employees and citizens voiced their opinions yesterday. The unfunded pension liability of the hospital is about $17 million. The next Dickinson County Board meeting is scheduled for tomorrow.
