Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Extras | All Access e-Edition | Home RSS
 
 
 

Officials hopeful for planned Lake Shore rally

January 5, 2014

By NICOLE GUGINO OBSERVER Assistant News Editor IRVING — State Senator Catharine Young, along with assemblymen Andy Goodell and Joseph Giglio, are organizing the rally to keep Lake Shore Hospital......

« Back to Article

 
 
sort: oldest | newest

Comments

(5)

joew

Jan-05-14 5:22 PM

No one is attempting to mislead the public that the rally will sway in any way the courts or the creditors. The rally will however demonstrate how important the hospital is to the surrounding populace. A huge turnout may very well raise some eyebrows however! Take it from there!

2 Agrees | 1 Disagrees | Report Abuse »

Captain

Jan-05-14 4:57 PM

concerned: it's already been proven under current operating practices that the hospital is NOT self-sustaining. This is why UPMC must convince a judge it has a viable reorganizational plan, otherwise, if an offer to buy the hospital is worth more than its liquidated assets, the judge will approve the sale.

0 Agrees | 0 Disagrees | Report Abuse »

concerned

Jan-05-14 1:39 PM

The real question here is even if all the debt was erased could the hospital support itself?

1 Agrees | 0 Disagrees | Report Abuse »

commentor

Jan-05-14 11:12 AM

It's political.....vote for me when my term is up.

3 Agrees | 2 Disagrees | Report Abuse »

Captain

Jan-05-14 9:46 AM

State reps are misleading the public into believing a rally may help prevent the hospital from closing, and that's simply not true. It's under bankruptcy protection (Chapter 11), therefore, there are only two scenarios that'll keep LSH open:

1) UPMC submits a plan that satisfies the judge & the hospital's creditors, allowing them to recover the most money owed to them, or

2) An offer to buy the hospital is worth more than the amount expected to be raised if it were to liquidate (sell off) all its assets, allowing creditors to recover the most money owed to them.

0 Agrees | 1 Disagrees | Report Abuse »

Showing 5 of 5 comments
 
 

Post a Comment

You must first login before you can comment.

*Your email address:
*Password:
Remember my email address.
or
 
 

 

I am looking for:
in:
News, Blogs & Events Web