Judge extends agreement on Forum spending

Staff report

YOUNGSTOWN

U.S. Bankruptcy Judge Kay Woods on Wednesday approved an emergency two-week extension of an agreement that permits bankrupt Forum Health to use its cash collateral for operating expenses.

A hearing on another extension, should it be needed, is scheduled for 9:30 a.m. June 15.

Neither attorneys for Forum Health nor the major creditors, who met in chambers for about 15 minutes before the hearing, would comment on what they discussed in private.

The major creditors recently filed a Chapter 11 reorganization plan for Forum. A hearing for disclosure on the matter is scheduled for June 22.

“We remain committed to exploring all options to secure a stable future for Forum Health and continued access to high-quality health-care services for residents of the Mahoning Valley,” according to a Forum Health statement.

“We remain optimistic that we will achieve our goal of reaching the best possible solution. No decisions, however, have been made, and we have no further comment at this time,” Forum Health said.

Forum, which filed for bankruptcy protection in March 2009, is in negotiations with Tennessee-based Ardent Health Services to purchase the local health-care system.