Westerly Hospital restructuring receives national recognition
"The Westerly Hospital filed for receivership in December 2011 after struggling to pay its creditors and employees. Superior Court Associate Justice Brian P. Stern appointed attorney W. Mark Russo as special master to run the hospital during the receivership and to seek bids for its acquisition. Judge Stern presided over dozens of hearings and conferences in the process. "This is a tangible demonstration that there is a real alternative to federal bankruptcy for organizations in financial distress, in particular where the state has a major policy, health or public protection interest," Judge Stern said Monday. "The result in this case is exactly what former Superior Court Presiding Justice Joseph F. Rodgers Jr. spoke about when he created the court's Business Calendar 13 years ago - to have a specialized and efficient calendar for companies in distress that will preserve jobs and services in Rhode Island."
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