The Villages Health (TVH) Chapter 11 Bankruptcy Case Nears Envisioned Resolution
The proposed settlement, which was filed earlier today in the U.S. Bankruptcy Court for the Middle District of Florida, will require final approval from the judge overseeing the case.
Via the proposed settlement, the Developer of The Villages has agreed to provide $80 million of value to the now former TVH. The cash amounts paid will be utilized for, among other things, payment of claims through the TVH plan of liquidation. This proposed settlement is also supported by the Department of Justice, which will file a statement in support of the resolution.
The resolution submitted Friday is independent of and reached separately from a final agreement between TVH and the Department of Justice, through which the former health system has agreed that the federal government shall have an allowed claim in the TVH bankruptcy case to resolve TVH’s self-investigated and self-reported Medicare billing issues.
ABOUT THE VILLAGES
Family-owned and operated for more than 50 years, The Villages® is the #1 master-planned 55+ community in the world. The Villages, located in Central Florida, is comprised of nearly 85,000 homes with lifestyle amenities and conveniences that serve its 165,000+ residents.
SOURCE The Villages
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