FEGS granted approval to sell FEGS Home Attendant membership interest

By Caroline Salls

Pittsburgh, June 20 – Federation Employment and Guidance Service, Inc., which does business as FEGS, received court approval of the sale of its 100% membership interest in FEGS Home Attendant Services, Inc. to Home Attendant Service of Hyde Park, Inc., according to an order filed June 20 with the U.S. Bankruptcy Court for the Eastern District of New York.

As previously reported, Home Attendant Service of Hyde Park was the stalking horse bidder for the membership interest, with a bid comprised of $1.38 million of cash plus an additional contingent payment of up to $2.03 million based on a potential reduction of New York Office of the Medicaid Inspector General liability.

According to Monday’s order, no other qualified bids were received and, as a result, no auction was held.

FEGS is a New York-based nonprofit health and human services organization that filed for bankruptcy on March 18, 2015. The Chapter 11 case number is 15-71074.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.