Nevada Cancer Institute filed Chapter 11 in Nevada on Dec. 2, 2011 as a nonprofit corporation, listing 100-199 creditors and petition ranges of $50 million-$100 million in assets and $100 million-$500 million in liabilities source filing. First-day evidence described NVCI as Nevada’s official cancer institute and a 501(c)(3) outpatient treatment and research platform in Summerlin, with about 150 employees, 22,600 patient visits in the first half of 2011, roughly 5,200 patients receiving care, and Sept. 30 book assets of $173.6 million against $98.9 million of liabilities, including $91 million of secured debt under a Bank of America-agented facility source filing.

The opening strategy was a sale and consensual restructuring: after a Cain Brothers and J.P. Morgan process, the board selected UC San Diego Health System to buy the Flagship Building and substantially all operating personal property for $18 million in cash, subject to higher bids, while preserving a nonprofit cancer-center mission source filing. The case reached its defining milestone on April 30, 2012, when the court confirmed the amended plan, finding the settlement among NVCI, the committee, the agent and lenders necessary to avoid litigation costs and support creditor recoveries; the effective-date mechanics vest estate property in the reorganized debtor free and clear and authorize loan documents for the agent and lenders source filing.