McDermott Advises Nonprofit on Chapter 11 Filing
NEW YORK (July 15, 2005) — McDermott Will & Emery is serving as debtor counsel to Saint Vincent Catholic Medical Centers (SVCMC). On July 5, 2005, SVCMC made the difficult but necessary decision to file for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
SVCMC’s facilities, programs and services will continue their normal operations throughout the Chapter 11 process. The bankruptcy protection does not affect the day-to-day patient care provided in the system’s hospitals, health centers, nursing homes or home health agency.
The McDermott team advising SVCMC is led by head of the Firm's Bankruptcy Practice Group, William Smith, and includes partners Stephen Selbst and James Sullivan.
SVCMC is one of the New York metropolitan area's most comprehensive health care systems, serving nearly 600,000 people annually. SVCMC was established in 2000 as a result of the merger of Catholic Medical Centers of Brooklyn and Queens, Saint Vincent Hospital and Medical Center of New York and Sisters of Charity Healthcare on Staten Island. Sponsored by the Roman Catholic Diocese of Brooklyn and Sisters of Charity of New York, SVCMC serves as the academic medical center of New York Medical College in New York City, and also includes seven hospitals.
McDermott's Bankruptcy & Troubled Transactions Practice Group offers a fully integrated, broadly based, troubled business advisory practice, representing all perspectives in distressed transactions and bankruptcy. Our lawyers serve as debtor, creditor, committee and special counsel in a wide variety of engagements, both pre and post bankruptcy filing, with especially deep experience in the health care industry, as well as mass tort bankruptcies and resolution of international and cross-border insolvencies.
