Pacifica Hospital of the Valley was supposed to go on the auction block this year, but now the Sun Valley facility may remain in the hands of Doctors Community Healthcare Corp., the Scottsdale, Ariz.Pacifica Pacifica (pəsĭf`ĭkə), city (1990 pop. 37,670), San Mateo co., W Calif., on the Pacific coast; inc. 1957. A residential city, Pacifica was formed by the consolidation of several communities in 1957. See AMD-V. Hospital of the Valley was supposed to go on the auction block this year, but now the Sun Valley facility may remain in the hands of Doctors Community Healthcare Corp., the Scottsdale, Ariz. company forced to file for bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection following the collapse of its chief lender. The company expects to file a reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. by next month in an effort to keep its four remaining hospitals instead of auctioning them off. But if outside bids being submitted to U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. better compensate creditors, they could take the issue out of Doctors Community's hands. Doctors Community listed $400 million in debts in its bankruptcy filing, which followed the collapse of National Century Financial Enterprises. Staff reporter Laurence Darmiento can be reached at (323) 549-5225 ext. 237 or at ldarmiento@labusinessjournal.com. |
|
||||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion