Highmark, WPAHS dealings complicated by bankruptcy scenario
Highmark Inc.'s suggestion—its demand, as far as West Penn Allegheny Health System is concerned—that WPAHS file for bankruptcy would not be the first time a hospital or health system went that route on its way to an unencumbered purchase by another party. "The issue from the buyer's side is that they would prefer everything to be cleaned up before they get their hands on it, and a buyer of assets out of bankruptcy can get very clean title," said Downtown bankruptcy attorney Robert S. Bernstein. The process can eliminate all claims, liens and encumbrances, he added, "and deliver to the buyer exactly what they purchased with very little risk."
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