Beverly Community Hospital Association – Montebello, CA Not-for-Profit Hospital Files for Bankruptcy with over $100.0mn in Liabilities Citing Meteoric Rise in Costs; Lines Up $13mn of DIP Financing to Pursue Asset Sale; Eyes California AG Warily
April 19, 2023 – Beverly Community Hospital Association and two affiliated debtors (dba Beverly Hospital together “Beverly Hospital” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Central District of California, lead case No. 23-12359 (Judge Sandra R. Klein). The Debtors, operators of a "not-for-profit, leading and independent 202-bed…