St. Francis sisters may file HMC plan - Business First of Buffalo:

http://risinghighcafe.com/menuscatering/lunchdinner.html
The Hawaii Medical Centee had exclusive authority to file a reorganizatiob plan for the ailingformer St. Francis hospitals. The center submittef its plan onMarch 30. In denyiny the extension requeston Monday, U.S. Bankruptcty Court Judge Robert Faris said this will help bring the bankruptcy to asuccessfu conclusion. On June 22, Faris approved Hawaii Medicapl Center’s disclosure statement, which was viewexd as a key step towardf implementing the strugglinghospital system’s reorganizationm plan. Still, creditors will vote to approve orrejecty HMC’s plan sometime after a hearinfg scheduled for Aug. 3.
In a preparedd statement, HMC Chief Operations and Restructurin Officer Salim Hasham saidthe company’s plan builds on the progresx made in turning around the hospitals. “Whilw we believe that our plan offere the best option for Hawaii Medical Centet to thrive and continue to servethe community, we know that otherws have their own ideas for restructuring and we welcome their participatiojn in the process,” he Officials at Hawaii Medical Center, whichu bought the struggling formefr St. Francis hospitals in Ewa and Liliha more than two yeard agofor $68 million, filed for Chapted 11 bankruptcy last August. They have sincw said they paid too much and wanta do-ovet of the deal.
St. Francis Healthcarw System of Hawaii, the Roman Catholic religious order which providerd most of the financing in the January 2007 and other creditors have objectedto HMC’sw plan. In an objection it filer with the courtJuly 10, St. Franci officials called the planan “ill-conceived and gap-filled effort” and said HMC officialds “merely seek to prolong exclusivity to maintain their head starf and to disadvantage others who seek a say in this an inappropriate use of exclusivity as a meanas to pressure creditors and leverage partiee in interest.” St. Francis now says it will file its own reorganizatiob plan forthe hospitals.
“This opens the door for us to put together and submit our own plan which will be beneficia l for theother creditors, the communithy and our health-care system,” said CEO Sistee Agnelle Ching in a prepared statement to PBN. Hawaii Medical Center is a partnership between CHA an affiliate of Cardiovascular Hospitals of Americaq and Hawaii PhysicianGroup LLC, whicg is a group of more than 130-Hawaii base d physicians.
It is Hawaii’ws only for-profit hospital