California Health Care District Files for Bankruptcy (Bond Buyer)

For more information, see last week’s “Noteworthy Disclosure ” post:


November 13, 2012 – A small health care district in Northern California has filed for Chapter 9 bankruptcy protection. The Mendocino Coast Health Care District, which runs a 25-bed hospital, reported to the Municipal Securities Rulemaking Board on Friday that it filed for bankruptcy. The health care district, a government agency that also runs a hospice program, said in court documents that holders of its more than $14 million of outstanding insured debt are expected to be unimpaired by the restructuring. The district, based in Fort Bragg, Calif. in Mendocino County, filed a bankruptcy petition on Oct. 17, stating it has more than 200 creditors and $10 million to $50 million in liabilities.

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