BUFFALO – A north county hospital that was set to close its doors by the end of this month will now have enough money to stay open until at least its next appearance in bankruptcy court.
That’s according to an article in the Buffalo News, which reports that the U.S. Bankruptcy Court in Buffalo decided Wednesday to allow TLC Health Network – the parent company of Lake Shore Hospital – to take a loan, effectively allowing it to keep its doors open until its next court date on Feb. 3.
According to officials in Bankruptcy court, no action was taken on the $1 million emergency loan from the Dormitory Authority of the state of New York (DASNY), a division of the state Department of Health. That’s because both sides are still negotiating final details of the loan, which was secured by state Sen. Cathy Young.
In the meantime, the judge approved TLC to borrow more money from Brooks Memorial, which will keep Lake Shore open until Feb. 3, when the next hearing has been scheduled.