Judge approves Bannister plan

PROVIDENCE – Superior Court Judge Michael Silverstein Monday afternoon approved a plan for Bronx-based Centers Health Care to manage Bannister House and be considered as a buyer for the facility, the court-appointed receiver said late Monday.
CHC, a group of medical care, rehabilitative treatment and health care providers in the states of New York and New Jersey, proposed paying $1.1 million for the nursing home, which was threatened with closure until the temporary receiver, Richard Land, stepped in in April. Land is also an attorney with the city law firm of Chace Ruttenberg & Freedman LLP.
The management plan will become effective sometime between Monday, May 18, and Wednesday, May 20, Land said, allowing CHC to come in and manage the facility.
Under the emergency petition, Land told the court in court documents, the nursing home, which trustees sought to close because of financial pressures, is still losing money. Entering the management agreement prevents closure of the nursing home, which has 95 beds, about 80 residents and 125 employees, Land said.
In about 30 days, Land also told the court he would hold a hearing for the “highest and best” purchase and sale offer, which will include CHC’s proposal. To date, CHC’s bid has been the only one in writing, but Land said Monday he has “lots of verbal offers,” noting that two other interested parties attended the hearing. He did not identify them.
In 30 days, Land said, he will evaluate all written bids and make a recommendation to the court.
Trustees moved to shutter the facility earlier this year, citing $2 million in debt.

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