St. Margaret’s Health in Illinois has filed for Chapter 11 bankruptcy and disclosed at least 1,000 creditors who are owed not less than $10 million but not more than $50 million. Two petitions were filed Thursday – one for St. Margaret’s Health-Spring Valley and one for St. Margaret’s-Peru (formerly Illinois Valley Community Hospital) – in Chicago with the U.S. Bankruptcy Court for the Northern District of Illinois. Court records now on file provide only a snapshot of the hospitals’ liabilities. One record, for example, itemizes the 20 largest unsecured claims. Among the top in-state creditors are the Illinois Department of Healthcare and Family Services, which is owed $2.5 million, and Blue Cross Blue Shield of Illinois, which is owed $1 million, Shaw Local News Network reports. Read more.
St. Margaret’s Files Chapter 11 Bankruptcy for Peru, Spring Valley (IL) Hospitals
