Gibbins Advisors receives award for Restructuring of the Year ($10m-$50m)

Gibbins Advisors was honored to receive the M&A Advisor 2024 Award for Restructuring of the Year ($10m-$50m) for the Chapter 11 restructuring of QHC Nursing Homes & Assisted Living Centers in Iowa. Our engagement as Financial Advisor to the Debtor was led by Ronald Winters and supported by Bradley Williams.

When QHC—a cash-strapped 10-facility senior care provider—was left without leadership after the sudden passing of its owner-operators, the organization faced crisis. Gibbins Advisors stepped in to provide stability, secure vital DIP financing, and navigate a complex Chapter 11 sale process. The outcome: facilities were successfully sold in a s363 sale with a smooth transition of operations to the buyer, and creditors secured a recovery.

The success of this challenging case was a team effort together with other professionals:

·       Jeffrey D. Goetz of Dickinson, Bradshaw, Fowler & Hagen, P.C. and Krystal R. Mikkilineni of Dentons Davis Brown as Debtor counsel

·       Katie Cownie of Dorsey & Whitney, LLP as Special counsel

·       Richard W. Kanowitz, Gabriel Levinson, and Martha Wyrick of Haynes and Boone, LLP as Buyer counsel

·       Jeffrey W. Courter and Roy Leaf of Nyemaster Goode, P.C. as Secured Lender counsel

·       Francis Lawall and Deborah Kovsky-Apap of Troutman Pepper Hamilton Sanders LLP as Committee counsel

For more information, download a copy of our case study or contact Ronald Winters at rwinters@gibbinsadvisors.com.