Porzio, Bromberg & Newman Selected as Lead Counsel to Official Committee of Unsecured Creditors in LifeCare 2.0 Chapter 11 Bankruptcy

Porzio, Bromberg & Newman’s Bankruptcy and Financial Restructuring team has been selected as lead counsel to the Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy cases of LifeCare 2.0, LLC and its affiliated debtors. The selection builds on the team’s nationally recognized bankruptcy and restructuring practice and its experience advising creditors’ committees and other stakeholders in complex Chapter 11 proceedings.

LifeCare is a Texas-based healthcare operator that provided specialized treatment for medically fragile and critically ill patients. Its operations included a 40-bed long-term acute care hospital and the LifeCare Wound Center of North Texas in Carrollton, Texas.

Porzio’s team is led by Bankruptcy and Financial Restructuring Department Co-Chair Robert M. Schechter, along with principals Brett S. Moore and Kelly D. Curtin. The team brings extensive experience representing creditors’ committees and other stakeholders in complex Chapter 11 bankruptcy and financial restructuring matters.

LifeCare has experienced cessation of its healthcare operations, including most recently the termination of services at its Wound Care Center, and the cases are now centered around preserving and recovering value for the bankruptcy estates and their stakeholders.

Porzio’s Bankruptcy and Financial Restructuring team represents creditors’ committees and other stakeholders in complex Chapter 11 bankruptcy proceedings and financial restructurings. The team’s experience includes matters involving hospitals, medical service providers and other healthcare organizations, combining bankruptcy and healthcare experience to address the financial, operational and regulatory considerations that can arise in distressed healthcare situations.

The LifeCare engagement follows Porzio’s recent selection as lead counsel to the Official Committee of Unsecured Creditors in the Chapter 11 cases of SpiriTrust Lutheran, a nonprofit senior living and healthcare organization.