McDermott Represents Gulf Coast Health Care, LLC in Chapter 11 Filings
International law firm McDermott Will & Emery is representing Gulf Coast Health Care, LLC (Gulf Coast), an operator of 28 skilled nursing facilities in the Southeastern United States, and certain of its affiliates and subsidiaries in its filing of Chapter 11 bankruptcy proceedings in the District of Delaware following challenges arising from the COVID-19 pandemic.
This representation includes negotiating a comprehensive restructuring support agreement with Gulf Coast’s equity sponsors, certain affiliates that provide services to Gulf Coast, certain affiliates and subsidiaries of Omega Healthcare Investors, Inc. (one of Gulf Coast’s landlords), and New Ark Capital, LLC (Gulf Coast’s senior secured lender). The restructuring transactions contemplated by this agreement will be effectuated through the chapter 11 cases and will result in the transition of Gulf Coast’s facilities to new operators as well as the subsequent wind-down of Gulf Coast’s business, anticipated to be finalized in Q1 2022.
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