Husch Blackwell is serving Christian Care Centers (CCC) as debtor counsel in its Chapter 11 petition filed May 23 in the U.S. Bankruptcy Court for the Northern District of Texas. CCC, a not-for-profit company, owns and operates three campuses in North Texas that offer a combination of 412 Independent Living Units, 152 Assisted Living Units, 77 Memory Care Units and 119 Skilled Nursing Units .
Pre-petition bondholders have provided CCC with $5.85 million in debtor-in-possession (DIP) financing, which requires the company to complete an asset sale by July 22, 2022. North Texas Benevolent Holdings offered $44.25 million for CCC’s assets. North Texas Benevolent Holdings has identified Boncrest Resource Group to assume the operations of the three CCC communities. Boncrest is an Atlanta-based nonprofit charitable organization committed to providing quality services, activities, and programs that serve public and charitable purposes in a rapidly changing and challenging healthcare economy.
“The pandemic has had an outsized impact on healthcare providers in the aged care and skilled nursing segments, among others,” said Buffey Klein, Husch Blackwell’s lead partner in the filing. “As providers attempt to navigate these challenges, our team is uniquely positioned to help clients navigate the complexities associated with financial hardship, health care regulatory compliance and corporate transactions in order to relaunch operations quickly and efficiently, serve patients and preserve value.”
The Husch Blackwell team includes Klein, Lauren Hayes, Amber Fly and Caleb Holzaepfel. The case is In re Christian Care Centers IncUS Bankruptcy Court, Northern District of Texas, No. 22-80000.