(IRON MOUNTAIN, MI.)–A proposal for Chapter 11 bankruptcy could be up for review when the Dickinson County Healthcare System Board of Trustees meets on Tuesday at noon.
A Chapter 11 bankruptcy allows an organization protection from creditors as it reorganizes, but, it was pointed out it is a complicated process. The concern is also, would the hospital remain open during the bankruptcy, and, that will be something that may have to be dealt with in the near future. The vote in favor of bankruptcy would have to come from the hospital board and then be acted on by the county board as well. However, that is only one such avenue they may have to tread. The Hospital Board of Trustees noted also the discussion are only just beginning. Much the same for the County Board members as well. There had been talk of the Hospital Board meeting with the County Board after the regular meeting of the commissioners this evening, but, no more discussion that meeting took place today. This is already getting complicated. So, it does appear the Dickinson County Healthcare System Board of Trustees have scheduled the Tuesday Noon meeting, saying nothing of this evening.