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Bankruptcy Judge okays Westlake's Chapter 9 settlement

Today's meeting was a major landmark for the Adair County Public Hospital District
Board will hold regular open meeting tomorrow night, Tuesday, January 26, 2016, at 7pmCT, at the hospital, 901 Westlake Drive, Columbia, KY

By Linda Waggener

At 12:59pmCT, today, Chairman Richard Grant said, "It's done."

Chairman Grant said that the bankruptcy judge's approval of the plan gives Westlake a firm foothold to move forward with T.J. Samson Hospital and keep operations going. He said with this bankruptcy closure the Adair County taxpayers have saved around $12 million and it stops penalties and fees to save millions more.


In a couple of weeks a closing will be held with the Glasgow healthcare facility, after the required waiting period of 14 days.

After the closing, the sale will be completed and Westlake Regional Hospital will belong to T. J. Sampson.

Separate from Westlake, the Adair County Hospital District, the taxing district, will remain in place with a minimum staff to do collections for paying on debts and to handle all remaining administrative duties until such time as the tax is no longer necessary when all indebtedness is resolved, in approximately 13 years according to today's discussion at the board meeting.

Details of the agreement will be released to all, according to Adair County Hospital Trustee Brad Keltner.

Present at today's meeting for the conference call with the judge presiding in Louisville, KY, were Adair County Public Hospital District Chairman Richard Grant, Adair County Judge Executive Mike Stephens, and Board members Brad Keltner, Sharon Burton, and David Herbst. Also present were staff members David Hayes, Chief Financial Officer, and Tonya Grant, Human Resource Director. Westlake CEO Neal Gold was in Louisville, KY, with the Board's Attorney.

The board will meet in regular session tomorrow night, Tuesday, January 26, 2016, at 7pmCT, at the hospital, 901 Westlake Drive, Columbia, KY. This is a public meeting open to all.


This story was posted on 2016-01-25 14:51:13
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Bankruptcy Judge approves Chapter 9 Settlement: It's done



2016-01-25 - 901 Westlake Drive, Columbia, KY - Photo by Linda Waggener, CM.
At 12:59pmCT today following a conference call meeting of the bankruptcy court, Chairman Richard Grant said, "It's done." The bankruptcy judge approved Westake's plan of adjustment (full details to be released). Chairman Grant said that the judge's approval of the plan gives Westlake a firm foothold to move forward with the sale to T.J. Samson Hospital which will keep operations going. After a required waiting period of 14 days the sale can be completed. From left, Adair County Public Hospital District member Sharon Burton, Chairman Richard Grant, Adair County Judge Executive Mike Stephens, and Board members Brad Keltner and David Herbst following today's special session at the hospital board conference room. Westlake Regional Hospital CEO Neal Gold was in attendance at the court session in Louisville, KY, with the Board's Attorney. media. Judge Stephens asked that the closing with T.J. Sampson be a public one so that all citizens have the opportunity to be present. The board will meet in regular session tomorrow night, Tuesday, January 26, 2016, at 7pmCT, at the hospital, 901 Westlake Drive, Columbia, KY. This is a public meeting for all interested citizens to attend. Today's meeting came to a close with board members thinking of those who need special thanks for the many hours given to bring Westlake to this point.

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