vol 20, num 1 | January 2023
 
 
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Health Care
 
AN ABI COMMITTEE NEWSLETTER
 
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► In This Issue:
 
 
 
Health Care Committee Co-Chair Corner
Cynthia Romano
 
Cynthia Romano
Cohn Reznick LLP
New York
 
Daniel Waxman
 
Daniel Waxman
KEWA Financial Inc.
Lexington, Kentucky
 
 
As 2022 has come to a close, it is time for the Health Care Committee to look back on an eventful year (for both the committee and the health care restructuring space as a whole). Although 2022 marked the return of live ABI conferences, the trajectory of the health care industry (and thus the committee’s focus) was still linked to the COVID-19 pandemic and its aftereffects. The health care industry remains a “hot topic” in the restructuring community, and we hope that we, as a committee, were able to facilitate those discussions and to provide the necessary education and awareness to our members.

Committee Educational Sessions
At the Annual Spring Meeting in Washington, D.C., in April, the Health Care Committee partnered with the Real Estate Committee to explore the “Real Estate Implications of COVID-19 on Senior Living Business Models.” The panelists, including Harold Bordwin from Keen Summit Capital Partners, Eric Walker from Cooley, LLP, Cynthia Romano from Cohn Reznick LLP and Brian Bonaviri from Grant Thornton LLP, discussed the significant distress in the senior-living sector and the ramifications of that distress on associated real estate assets.

 
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Interview with Jeremy Rosenthal of Force 10 Partners
Jeremy Rosenthal
 
Jeremy Rosenthal
Force 10 Partners
Irvine, Calif.
 
 
EDITOR’S NOTE: This interview has been edited for length and clarity.

Q: Jeremy, thank you so much for taking the time to talk to us. Just to get started, we wanted to ask about how you became a chief restructuring officer (CRO). What did your career path look like?

A: I started on my current path as a restructuring attorney. I was a partner at Sidley Austin until September 2018, at which point I left to join Force 10 Partners and to move on to the business side of restructuring.
 
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Health Care CHOWs in Bankruptcy Sales
Tammy Woffenden
 
Tammy Woffenden
Locke Lord LLP
Austin, Texas
 
 
Businesses that operate a health care ‎facility, provide health care services, or manufacture, distribute or sell health care products may have multiple operating licenses, certifications and billing provider numbers. Sales of these businesses, including in a bankruptcy, triggers a number of change of ownership (CHOW) regulations from various state and federal agencies. Failure to follow such requirements could adversely impact the new owner’s post-closing operations and reimbursement. Thus, when a health care business is subject to a sale in a bankruptcy, counsel must determine the following questions.
 
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CARIBBEAN INSOLVENCY PROGRAM
 
 
 
ALEXANDER L. PASKAY MEMORIAL BANKRUPTCY SEMINAR
 
 
 
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