The Steward Healthcare Case Demystified

On May 5, 2024, Steward Healthcare filed Chapter 11 bankruptcy protection blaming rising costs, insufficient revenue, and cash crunches. Steward's bankruptcy was one of the largest hospital bankruptcies in U.S. history and the largest one in decades. During its restructuring, Steward permanently closed three Massachusetts hospitals, laid off more than a thousand workers. Steward sought to sell the operations six hospitals in Massachusetts and Rhode Island and to close three hospitals in Massachusetts.  The Commonwealth opposed the closures, arguing that they endangered the communities in which they operate.  The Court allowed the sales and the closures.

Andrew Troop of the Pillsbury law firm represented the Commonwealth of Massachusetts in the bankruptcy case in Houston. He will join retired bankruptcy judge Frank J. Bailey, now President of Pioneer Public Interest Law Center in Boston, to discuss this important healthcare bankruptcy case.

 NOTE: There are no written materials for this program. The content of this program does not meet requirements for continuing legal education (CLE) accreditation. All recordings and materials from this program and previous programs are available for free for ABA members and can be found on the ABA Business Law Section website.