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Walnut Hill Medical Center, a 100-bed for-profit hospital in Dallas, filed for Chapter 7 bankruptcy Tuesday after abruptly closing just four days prior, Becker’s Hospital Review reported yesterday. The hospital, which opened in April 2014, shut down June 2 without warning from hospital officials. Employees were told of the plan to shutter the hospital on the morning it closed. Although officials did not provide specifics about what caused Walnut Hill Medical Center to close, documents filed in the bankruptcy case give a glimpse into the financial challenges the hospital is facing. In its bankruptcy petition, the hospital listed its assets as between $10 million and $50 million and its liabilities as between $100 million and $500 million. The hospital said it has at least 200 creditors. Read more.

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As her collection of troubled companies continues to struggle, distressed investing executive Lynn Tilton will face questioning under oath about the demise of one of them, failed emergency-care transport company Transcare Corp., the Wall Street Journal reported today. Over the past year, Tilton has gone to trial in New York and Delaware over her handling of what was once a $2.5 billion empire, spending days on the witness stand. Sometime this summer, Tilton will take questions about the fate of Transcare, which shut down suddenly last year, leaving more than 1,200 workers jobless, and many allegedly unpaid. The questions will come from bankruptcy trustees, who have been issuing subpoenas and getting court orders to fill in the gaps in the ambulance company’s financial records. More than a year after Transcare closed down, bank and tax records were missing, court documents say.

Religious hospitals don't have to comply with federal laws protecting pension plans, a unanimous Supreme Court ruled on Monday in a case that affects retirement benefits for roughly a million workers nationwide, the Associated Press reported. The justices sided with three church-affiliated nonprofit hospital systems being sued for underfunding their employee pension plans. The hospitals — two with Catholic affiliation and one with Lutheran ties — had argued that their pensions are "church plans" that are exempt from the law and have been treated as such for decades by federal officials. Workers asserted that Congress never meant to exempt massive hospital systems that employ tens of thousands of workers. They said the hospitals are dodging legal safeguards that could jeopardize their benefits. Writing for the court, Justice Elena Kagan said that a pension plan operated by a religiously affiliated hospital is exempt from the law "regardless of who established it."