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[$$] Corrigan's Take: Orianna Restructuring Wins Bankruptcy Court's Backing

A bankruptcy judge cleared Orianna Health Systems LLC to move forward with a restructuring plan, which creditors say amounts to a sweetheart deal favoring the nursing-home operator’s existing owners. for a key settlement, an auction process and up to $30 million in bankruptcy financing. Creditors have vigorously opposed Orianna’s restructuring plan, saying the settlement and sale amount to self-dealing by company insiders.