{"id":120384,"date":"2025-03-08T16:50:47","date_gmt":"2025-03-08T16:50:47","guid":{"rendered":"https:\/\/peraltafinancing.com\/alabama\/senate-passes-bill-to-allow-jackson-hospital-to-restructure-debt-following-bankruptcy\/"},"modified":"2025-03-08T16:50:47","modified_gmt":"2025-03-08T16:50:47","slug":"senate-passes-bill-to-allow-jackson-hospital-to-restructure-debt-following-bankruptcy","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=120384","title":{"rendered":"Senate passes bill to allow Jackson Hospital to restructure debt following bankruptcy"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>The Alabama Senate passed <a href=\"https:\/\/alison.legislature.state.al.us\/files\/pdf\/SearchableInstruments\/2025RS\/SB222-int.pdf\">SB222<\/a> on Thursday, a bill allowing medical clinic boards to readjust debt under federal bankruptcy law.<\/p>\n<p>The bill was introduced by Sen. Kirk Hatcher, D-Montgomery, in the wake of Jackson Hospital and Clinic in Montgomery <a href=\"https:\/\/www.alreporter.com\/2025\/02\/05\/jackson-hospital-files-for-bankruptcy-state-lawmakers-speak-out-in-support\/\">filing for bankruptcy<\/a> after defaulting on $60 million in debt in September last year.<\/p>\n<p>Sen. Will Barfoot, R-District 25, presented the bill to the Senate on Thursday in Sen. Hatcher\u2019s stead and explained why it was a necessary step in restoring Jackson Hospital to solvency.<\/p>\n<p>\u201cCurrently, in our area, in Montgomery, Jackson Hospital has filed for bankruptcy. The problem with that is that the assets\u2013 Jackson Hospital basically doesn\u2019t own any of the assets,\u201d Barfoot explained. \u201cThere\u2019s a medical clinic board, its a public corporation established by local government to finance, own, and lease the healthcare facilities. Under current law, medical clinic boards aren\u2019t allowed to file for bankruptcy and, in short, what SB222 would do is grant specific authority for a medical clinic board to file bankruptcy if it leases property to a licensed acute care hospital or general healthcare provider that has filed chapter 11 bankruptcy.\u201d<\/p>\n<p>\u201cIt\u2019s just allowing that healthcare medical clinic board the opportunity to file for bankruptcy. They hold the assets for the hospital and ultimately we hope to make sure that Jackson Hospital is again solvent and is able to operate to provide services for not only folks in Montgomery, but the tricounty area and those from outside the tricounty area that come,\u201d Barfoot continued.<\/p>\n<p>Barfoot went on to explain that the provisions of the bill in no way supersede federal bankruptcy law and, again, would simply allow medical clinic boards, like the one which owns Jackson Hospital\u2019s assets, to restructure a healthcare facility\u2019s debt after it files for chapter 11 bankruptcy.<\/p>\n<p>Since filing for bankruptcy, Jackson Hospital has <a href=\"https:\/\/www.montgomeryadvertiser.com\/story\/news\/local\/2025\/03\/03\/jackson-hospital-appoints-new-leadership-amid-restructuring\/80738146007\/\">reorganized its leadership<\/a>, appointing a new chief operating officer and chief information officer. Now, the hospital is looking to undergo restructuring, which could be greatly aided by SB222 if the bill ultimately passes into law.\u00a0<\/p>\n<div class=\"code-block code-block-6\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div class=\"zox-post-ad-wrap\"><span class=\"zox-ad-label\">Advertisement. Scroll to continue reading.<\/span><\/div>\n<\/div>\n<p>Now that it has passed the Senate, SB222 will need to pass through the House before reaching Gov. Ivey\u2019s desk where it could be signed into law.<\/p>\n<p><!-- CONTENT END 1 -->\n\t\t\t<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>The Alabama Senate passed SB222 on Thursday, a bill allowing medical clinic boards to readjust debt under federal bankruptcy law. The bill was introduced by Sen. Kirk Hatcher, D-Montgomery, in the wake of Jackson Hospital and Clinic in Montgomery filing for bankruptcy after defaulting on $60 million in debt in September last year. Sen. Will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":120385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11763],"tags":[33526,37397,11433,6795,11265,4391,5558,5973,37256,22185,53166,21482,53164,53165],"dealstore":[],"offerexpiration":[],"class_list":["post-120384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alabama","tag-2025-legislative-session","tag-alabama-senate","tag-bankruptcy","tag-bill","tag-debt","tag-healthcare","tag-hospital","tag-jackson","tag-jackson-hospital","tag-passes","tag-restructure","tag-senate","tag-state-sen-kirk-hatcher","tag-state-sen-will-barfoot"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Senate passes bill to allow Jackson Hospital to restructure debt following bankruptcy - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=120384\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate passes bill to allow Jackson Hospital to restructure debt following bankruptcy - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The Alabama Senate passed SB222 on Thursday, a bill allowing medical clinic boards to readjust debt under federal bankruptcy law. The bill was introduced by Sen. Kirk Hatcher, D-Montgomery, in the wake of Jackson Hospital and Clinic in Montgomery filing for bankruptcy after defaulting on $60 million in debt in September last year. Sen. 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