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Judge will allow UMC to make case for presenting plan to get Children’s out of bankruptcy

Bankruptcy judge H. Christopher Mott will allow UMC to argue why it should be allowed to present its plan to get Children’s hospital out of bankruptcy, according to court documents filed this morning.

As per bankruptcy law, the plan presented by Children’s should get two months to get vetted before anyone else introduces a competing plan.

Judge Mott entered an order allowing UMC to make its case during a Tuesday afternoon hearing in Austin.

UMC argues Children’s doesn’t have time or money to spend, and another salvage plan should be considered.

During the hearing, the judge will also hear arguments on whether Children’s should be allowed to hire an investment banker to help it look for a 3rd party to help it emerge from bankruptcy.

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