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Former hospital employees seek details of St. Vincent’s financial collapse

NY1 News, August 17, 2010

A coalition of former employees of St. Vincent's Hospital and Lower Manhattan community advocates said they have filed a lawsuit in Manhattan Supreme Court Monday to shed light on financial mishandling that they say helped shut down the hospital. St. Vincent's closed on April 30, citing a debt of a billion dollars, and forced 3,000 employees to lose their jobs. "We had a culture there that was very caring and we worked together as a team," said Eileen Dunn, the former president of the St. Vincent's Nurses Association. The lawsuit claims that St. Vincent's executives wasted millions of dollars while exaggerating their debts .The documents say that in one year, the hospital paid its top 10 executives a combined $10 million and spent $17 million for management consultants and nearly $4 million on professional fundraising.