In re: Gallatin Health Care Associates
United States Bankruptcy Court for the Middle
District of Tennessee, Nashville Division,
Case No. 395-09504
Tutera acted as a consultant and special advisor to the debtor’s
general partner in connection with the formulation, negotiation
and financing of the debtor's chapter 11 plan of reorganization.
The major component of the plan was the refinancing of the
$6,700,000 Health, Educational and Housing Facilities Board
of the County of Sumner, Tennessee Revenue Bonds, Series 1986
(Gallatin Health Care Associates Project) through the private
placement of $5,200,000 refunding tax exempt bonds and a
$900,000 taxable note with a single sophisticated investor located
by Tutera. The debtor’s plan was confirmed, at which time Tutera
became the manager of this 200 bed long term care facility. Tutera
also provided a
post-confirmation working capital line of credit in the
amount
of $300,000.