Hunter
10/10/23
Sale of Mercy Iowa City’s assets scheduled for today have been postponed by a judge to an unspecified later date.
The Gazette reports although the hospital early in its Chapter 11 bankruptcy proceedings stressed the need for urgency — given ongoing operating losses depleting resources available to pay back creditors — the order bumping the sale hearing suggested a delay appears, quote, “in the best interests of (Mercy), their estates, their creditors, and other parties-in-interest.”
A pre-sale auction that began last Wednesday has not been completed. Mercy attorneys indicated the auction would continue this week, without providing specifics.