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Bondholders seek 96% of Mercy Iowa City sale proceeds as closure nears

With the $28 million sale of Mercy Iowa City to the University of Iowa just over two weeks from closing, the 150-year-old community hospital’s largest bondholders are seeking court affirmation they will get the vast majority of that money “promptly.” ....

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Legal fees accumulate in Mercy bankruptcy

In total so far, a Chicago law firm representing Mercy Hospital in its bankruptcy case has accumulated $6.2 million in fees against a hospital that since its Chapter 11 petition through Oct. 31 had reported a $13.7 million operating loss. ....

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Attorneys who helped University of Iowa acquire Mercy Hospital bill $1.8M

Since University of Iowa Health Care more than two years ago initiated efforts to take over Mercy Iowa City, an outside Chicago-based law firm has billed it $1.8 million for “transactional and regulatory assistance arising in connection with a potential affiliation involving Mercy Iowa City.” ....

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First bickering, now losses at issue in Mercy Iowa City sale

After taking a “short” five-hour break during a bankruptcy auction in Chicago on Oct. 4 to discuss whether to raise their original $20 million offer for Mercy Iowa City’s assets in response to bondholder Preston Hollow’s $27 million counter bid, University of Iowa attorneys at least initially decided not to. ....

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Potential buyers to tour Mercy Iowa City next week

Hunter 09/14/23 Attorneys for Mercy Iowa City said during a Wednesday hearing that they're arranging tours of their facilities for potential buyers. The Gazette ....

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