Pratt Hospice Bankruptcy
Associated Press/Hutchinson News - Sat 02:21 PM 03/02/2013
An attorney for a Pratt-based hospice that serves 10 south-central Kansas counties says the nonprofit group plans to file a bankruptcy reorganization plan soon.
The South Wind Hospice filed for protection in November after it defaulted on bond payments for a new hospice built in Pratt in 2005.
It still owes about $1.9 million on the $3 million project.
Attorney Edward Nazar says the organization plans to get financing from a lender, which will be used to make a payment to bondholders. He says it will be less than the amount of the bonds, but calls it a "significant amount."
He also says the plan includes satisfying tax liens and making lump-sum payments to unsecured creditors.