Lowenstein Sandler serves as counsel to the Official Committee of Unsecured Creditors (Committee) in the matter.
Hygea and many of its affiliates filed for Chapter 11 protection in February 2020, asserting approximately $200 million in debt.
U.S. Bankruptcy Judge Karen B. Owens in the District of Delaware agreed to confirm the plan, pending amendments removing certain nonestate fiduciaries from the exculpation provisions. Additionally, a creditors’ trust will be formed for the benefit of unsecured creditors, which will include various causes of action, five percent equity in the reorganized Debtors, and funding for the trust. Lowenstein will subsequently represent the trustee of the creditors’ trust post-confirmation.
Hygea is a diversified healthcare holding company led by a team of nationally recognized industry innovators and leaders who represent many aspects of healthcare, from insurance and finance, to medicine and technology.
The Lowenstein team advising the Official Committee of Unsecured Creditors included Joseph J. DiPasquale (Picture), Robert M. Hirsh, Rachel Maimin, Eric R. Suggs, John P. Schneider, Phillip Khezri, Colleen M. Maker, and Jeremy D. Merkin.
Involved fees earner: Joseph DiPasquale – Lowenstein Sandler LLP; Robert Hirsh – Lowenstein Sandler LLP; Phillip Khezri – Lowenstein Sandler LLP; Rachel Maimin – Lowenstein Sandler LLP; Colleen Maker – Lowenstein Sandler LLP; Jeremy Merkin – Lowenstein Sandler LLP; John Schneider – Lowenstein Sandler LLP; Eric Suggs – Lowenstein Sandler LLP;
Law Firms: Lowenstein Sandler LLP;