Sunday, April 4, 2010

Valley Health attorney change sides

May be I don't understand the "adversarial" process very. As some have noted, I am not a law school graduate.

but what's you opinion of the following.

the firm Stutman, Treister and Glatt represents Valley Health System in its bankruptcy proceedings. They guided VHS through the process that resulted in the sale of the hospital system to Physicians for Healthy Hospitals.

In order to secure the sale, PHH had to use Dr. kali P. Chaudhuri's funds and guarantees to obtain the financing.

On Thursday, and perhaps this is the legal system's idea of an April Fool's joke, STG approached Judge Peter Carroll and said they were now "engaged by KPC Resolution company, LLC, to represent Resolution as a purchaser in the connection with a receivership proceeding in the U.S. District Court Central Cal.

"Dr. Kali P. Chadhuri is the manager and sole member of Resolution. [He] is also one of the investors in PHH, LLC which owns or will own all or substantially all of the stodck of PHH, Inc."

The law firm has no second thoughts about representing the purchaser of VHS since the VHS board consented! I don't remember that coming up in a board meeting.

1 comment:

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