Elizabeth Austin, Chair of Pullman & Comley's Bankruptcy and Creditors' Rights Section, was quoted in an article about the recent wave of bankruptcies and receiverships that has hit the nursing home industry in Connecticut. According to the article, "Confined to Their Sick Beds, Many Nursing Homes Struggle to Heal," six nursing homes in the state have either filed for bankruptcy or have been placed into receiverships since January 11.
“This is unprecedented,” Liz said. “I have not seen this many homes going into receivership or bankruptcy at one time. I wouldn’t be surprised if there are more.”
Liz noted that one of the problems is that there are too many Connecticut beds, and recent closings are partly a natural rescaling of the industry.
To read the full article on the Hartford Business Journal website, please click here.