In re Valley Health Sys.

Ruling: 
Health care district was eligible under chapter 9 despite failure to negotiate plan of adjustment which would have been impracticable.
Procedural posture: 
Debtor, a California health care district, filed a petition under chapter 9 of the Bankruptcy Code. A bank that held bonds issued by the district filed an objection to the district's petition, claiming that the district was ineligible for relief under chapter 9, and two unions also filed an objection which asked that the court reject any premise that the bankruptcy resulted from the district's obligations to its employees.
Issue: 
ABI Membership is required to access the full summary of In re Valley Health Sys.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on February 20,2008, LexisNexis #0508-002