Good news for a rural nursing home, and for Iowa taxpayers

November 21, 2024

Good News for a Rural Nursing Home, and for Iowa Taxpayers

Tabor Manor Care Center in Tabor, Iowa, successfully emerged from Chapter 11 bankruptcy on November 1, showcasing the power of collaboration and good faith. Ronald Winters of Gibbins Advisors, LLC, served as the restructuring adviser for this case, which was resolved under the streamlined Subchapter V provisions of the Bankruptcy Code.

Key outcomes:

  • Residents, employees, and the local community retain vital services and jobs.
  • All creditors, including the state of Iowa, will be fully repaid, with taxpayers benefiting from the repayment of significant obligations.
  • Tabor Manor remains family-owned, continuing its legacy since 1976.
Good news for a rural nursing home, and for Iowa taxpayers