Adeptus Health Bankruptcy Objections Filed


Multiple parties – including creditors IRA Capital Advisors, SCG Capital, MBH Mesquite, MBH Newco, Huntington National Bank and Chandler Signs – filed with the U.S. Bankruptcy Court separate objections to Adeptus Health’s Second Amended Joint Plan of Reorganization.

IRA Capital Advisors asserts, “Assumption of the IRA Capital Leases under the Plan must not only cure these deficiencies, but it must also demonstrate the Debtors’ acknowledgment and willingness to pay rent under the terms of such leases, including these increases in base rent. In addition to the foregoing unpaid base rent, IRA Capital has received seven (7) unpaid invoices from GSR Andrade Architects (‘GSRA’), totalling an amount of $37,595.69 based on work performed by GSRA on the leased premises.”

In addition, “Debtors may not assume the IRA Assumed leases without first (i) curing all prepetition and post-petition defaults that exist, including those amounts described above; and (ii) providing adequate assurance of future performance under the IRA Assumed Leases. Accordingly, Debtors must pay the IRA Capital entities an amount of at least $47,912.92, in addition to any other amounts that are due and owing at the time of assumption, in order to assume the IRA Assumed Leases.”

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