VOTE APPROVED ON SANTA PAULA HOSPITAL PLAN.Byline: Angie Valencia-Martinez Staff WriterVENTURA - Creditors of Santa Paula Memorial Hospital can vote on a debt-restructuring plan that would allow it to exit Chapter 11 bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party , a judge has ruled. 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. Judge Robin Riblet rib·let n. 1. A cut of meat from a rib end of veal or lamb. 2. One of a series of microscopic grooves, each a few thousandths of an inch wide, inscribed on the surface of an adhesive-backed tape and used on airplanes and boat has scheduled an April 6 hearing to confirm results of the vote, which requires a two-thirds majority in order to be approved. ``It's a very significant step,'' said Jay Michaelson, attorney representing the hospital. ``It doesn't mean it's going to happen.'' The plan details how the Santa Clara Valley
The Santa Clara Valley is a valley just south of the San Francisco Bay in Northern California in the United States. hospital, which closed in 2003, intends to pay off roughly $13 million in debt. It calls for Ventura County to pay $2.75 million for 13 acres and the hospital facility, which would be reopened in the fall as part of Ventura County Medical Center Ventura County Medical Center is a hospital in the city of Ventura, California, USA. It is a 208 bed acute care hospital. The county also operates a 49 bed campus in Santa Paula. . The remaining undeveloped 15.5 acres of the scenic hilltop site would be auctioned by March 15 to help pay off creditors. Comstock Homes of Manhattan Beach, Voit Development Co. of Woodland Hills and Centex Homes of Dallas are in the running to buy the land. ``That gives us a clear timeline to work with,'' said Ventura County Supervisor Kathy Long, whose district includes the shuttered hospital. ``It gives us the ability to go beyond the fix and look at when we could get hospital doors open.'' Angie Valencia-Martinez, (805) 583-7604 angie.valencia(at)dailynews.com |
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