A Florida bankruptcy judge on Monday approved the sale of a shuttered Miami hospital to Variety Children’s Hospital for $30 million after VCH entered the only bid for the property and its assets.
The 2018 Chambers USA Guide, a prestigious ranking of the nation’s top firms and attorneys published by Chambers and Partners, recognizes the work of Meland Russin & Budwick and its attorneys in the practice areas of Bankruptcy & Restructuring and Commercial Litigation.
A shuttered Miami hospital in Chapter 11 stayed on track to be sold in auction in late June when a Florida bankruptcy judge gave her blessing to the sale process Monday after approving a settlement the parties reached to resolve objections from the unsecured creditors committee.
Miami International Medical Center LLC, which ran the recently closed Miami Medical Center, has filed Chapter 11 while listing $31.4 million in assets versus $67.3 million in liabilities.
A company managed by billionaire insurance magnate William R. Berkley and equity fund manager Bruce Berkowitz acquired a collection of properties in Miami’s Coconut Grove at bankruptcy auction for $5.4 million.
The “mystery” buyers who won six sought after West Coconut Grove lots in U.S. bankruptcy court are not so mysterious after all: They are well known Miami financial figures Bruce Berkowitz and Bill Mahone.
A company led by billionaire William Berkley and Bruce Berkowitz of Fairholme Holdings just picked up pieces of an assemblage in west Coconut Grove.
The $5.4 million purchase of six lots along Miami’s Grand Avenue is the latest development for a storied stretch that’s been mired in lawsuits, including a bankruptcy filing, and is home to dilapidated buildings and vacant parcels.
Using the Internal Revenue Service (IRS) as the “triggering creditor” under § 544(b) of the Bankruptcy Code provides a powerful tool for bankruptcy trustees to reach back for periods of 10 or more years in the pursuit of fraudulent conveyances that are otherwise outside the applicable state law statutes of limitation.
A debtor in a bankruptcy case is fighting back against an unusual maneuver that would allow trustees to boost their clawback authority in cases that involve unpaid federal taxes.