The Maris Pointe assisted living holding company is operating under Chapter 11 bankruptcy protection with the filing of a bankruptcy petition by American Eagle Delaware Holding Company LLC on January 14, 2022.
Weak assisted living occupancy rates to blame?
According to reports published on Bloomberg Law, the “Ann Arbor based chain listed both assets and liabilities in the range of $10 million to $50 million” dollars. According to Standard and Poor’s rating agency, the company “had weaker occupancy than projected” and higher costs as of 2019 which may have precipitated the Chapter 11 filing. Interestingly, the address listed for American Eagle Delaware Holding Company, LLC as part of the bankruptcy filing appears to be a residential address: 3819 Hawk Crest Road, Ann Arbor, Michigan 48103. Realtor.com reports that this property is a single family home that was last sold in 2004 for $225,000.00.
Generally, when a company files a Chapter 11 bankruptcy, it may continue to operate and conduct business during the reorganization process with the supervision of the United States Bankruptcy Court where the case is pending. The company that files bankruptcy, known as the “debtor,” must file a plan of reorganization with the court which is ultimately subject to court approval. Creditors have an opportunity to object to the debtor’s plan. It appears that the Maris Pointe assisted living facility in Venice remains open for business during this bankruptcy reorganization process. The most recent inspection results compiled by the Florida Agency for Health Care Administration for Maris Pointe may be found here: https://tinyurl.com/2p8hzmnv
Do you have questions concerning suspected neglect or abuse in a Florida assisted living facility?
As a Venice assisted living neglect lawyer, I review the results of inspections conducted by Florida officials at area ALFs and frequently report on those results; results which are a matter of public record for all to see. The best time to speak with a lawyer is before admitting a loved-one into an assisted living facility. Refuse to sign any residency agreement that contains an “arbitration clause” or contains the word “arbitration.” Arbitration is supposed to be a voluntary process, so you are perfectly within your right to cross this provision out and refuse to allow the assisted living facility operator to insulate itself with an arbitration clause. In other words, protect your rights granted under the United States Constitution! Of course, if you have questions concerning the suspected neglect or abuse of a loved-one at a Florida assisted living facility, you may call me at (941) 485-7600 for a free, confidential consultation. James Edwin Keim, Assisted Living Neglect Lawyer.
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