Laserfiche WebLink
<br /> / bfl I <br /> xv. PURCHASE OF INVESTMENTS BY HEALTHVEST <br /> On May 20,1993, HealthVest purchased all the outstandi~; common stock of <br /> Investments pursuant to an agreement reached. wi th Greenery Rehabilitation <br /> Group, Inc. Investments is now a wholly owned subsidiary of HealthVest. As a <br /> result of its acquisition of Investments, HealthVest caused Investments to <br /> call a Class B shareholders meeting of HII. On May 20, 1993, Investments, as <br /> the majority Class B shareholder, elected Bruce Sherman and Robert Torrey to <br /> replace Barry Portnoy and Gerard Martin who resigned as the Class B directors <br /> on May 20, 1993. Furthermore, Investments caused HII and its 'Affiliates to <br /> support HealthVest's First Amended Plan of Reorganization filed on May 20, ~- <br /> 1993. <br /> , <br /> XVI. SIGNIFICANT ORDERS ENTERED IN THE CASE <br /> Significant orders entered in this case include the following: <br /> ¡ <br /> 1. Order Granting Motion for Joint Administration; <br /> 2. Order Approving Participation in Post-Petition Financing Program <br /> Pursuant to 11 U.S.C. § 1364(c) and to Approve the Sale of <br /> Receivables Pursuant to 11 U.S.C. § 363(b)(1) by The Brown Schools <br /> of San Marcos, Inc.; <br /> 3. Order Granting Motion for Order Authorizing Continuation of Central <br /> Cash Management System and to Maintain Existing Bank Accounts by The <br /> Brown Schools of San Marcos, Inc.; <br /> 4. Order Authorizing Payment of Pre-Bankruptcy W,ages, Salaries and <br /> Other Employee Benefits Payroll Related Tax Deposits and to Continue <br /> Existing Employee Policies and to Pay Physicians and Other Health <br /> Professionals Fees Pursuant to 11 U.S.C. § SO7(a)(3), SO7(a)(4) and <br /> 105 by The Brown Schools of San Marcos, Inc.; <br /> 5. Order Approving Agreement on Motion to Reject Executory Leases; <br /> 6. Order Approving Assumption of Real Property Leases with HealthVest; <br /> 7. Order Approving Motion to Compromise Controversies in Adversary No. <br /> 91-1334-LK Pursuant to Bankruptcy Rule 9019 (settling the lawsuit <br /> against HealthVest); <br /> 8. Order: Granting Healthcare Subsidiaries' Motion to Assume Certain ¡ <br /> Real Property Leases; <br /> , <br /> XVII. CONCLUSION <br /> HealthVest and the Debtor urge Creditors solicited by this Disclosure <br /> Statement to vote to accept the Plan and to evidence such acceptance by <br /> returning the Ballot so that it is received by ( J. <br /> DATED: Austin, Texas <br /> August ~', 1993 <br /> - 34 - <br /> a-2015S <br />