Newsletter Articles | December 1, 1995
Timberlawn Emerges From Bankruptcy
OPEN MINDS The Behavioral Health Industry Analyst
Industry News
Timberlawn Mental Health System in Dallas emerged from bankruptcy protection November 17, 1995. Timberlawn has compiled nearly $14 million in debt the past four years. This debt has now nearly been erased in the bankruptcy settlement. U.S. Bankruptcy Judge Robert C. McGuire approved a plan the first week of September, 1995 under which 60 unsecured creditors will exchange seven million dollars in notes for 55% of the company's stock. Most of the creditors are physicians and staff persons who formerly . . .