Coniglio Quoted in Law360 Article Regarding Delaware Bankruptcy Case

Kari Coniglio, a partner in the Vorys Cleveland office, was quoted in a Law360 story titled “Judge Signals OK For $15M DIP Loan to Petersen Health Care.”  The story was about how, during a break in a hearing, senior-living company Petersen Health Care reached an interim deal with its lenders to let the company access $15 million of its proposed $45 million debtor-in-possession (DIP) loan.

The story covered the negotiations as they played out throughout the day.  The story states:

“‘It seems to me that what your honor is being asked to do is to be the first to violate the National Housing Act with the granting of these priming liens,’ Kari Balog Coniglio of Vorys Sater Seymour and Pease LLP, counsel for Lument Real Estate Capital LLC, told the judge.

Judge Horan eventually took a break around 5 p.m. EST so he could think about what to do and asked the parties to try to reach a resolution.”

The story went on to highlight that eventually the parties did reach an amicable resolution and that the judge indicated that he would sign off on the deal.  

To read the entire story on the Law360 website, click here.  A subscription may be required to access the article.