Seniors Home Obtains $2 Million Cash Guarantee on Ch. 11 Opposition

By Katie Buehler (April 18, 2022, 6:37 p.m. EDT) — A Texas bankruptcy judge on Monday granted the nonprofit operator of Edgemere Nursing Home in Dallas a request to use up to $2 million dollars in cash collateral to continue operating while it faces Chapter 11 proceedings, despite an objection to the plan filed by the homeowner.

U.S. Bankruptcy Judge Michelle V. Larson granted Northwest Senior Housing Corp. up to $2 million in initial debtor-in-possession funding after a hearing on Monday. Northwest owner Intercity Investment Properties Inc. filed an objection to the plan on Sunday, saying the budget submitted by Northwest wrongly omitted the roughly $340,000 in monthly rent it…

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