Absolut Facilities Management is in a confirmed-plan posture: the bankruptcy court confirmed the Official Committee of Unsecured Creditors’ Third Amended Joint Chapter 11 Plan on May 18, 2020, with a final decree deadline set for August 17, 2020 in the confirmation orderDkt. 583.
The debtor, a New York senior-care management business operating under the Absolut Care name, entered chapter 11 on September 10, 2019 through a voluntary petitionDkt. 1. Early case filings show the debtor sought typical first-day stabilization relief, including joint administration, utility protections, schedule extensions, claims-bar-date procedures, and authority to obtain credit and use cash collateral through the first-day declarationDkt. 15. Within two weeks of the petition, 6060 Armor Road, LLC also opened an adversary proceeding seeking declaratory and injunctive relief tied to an operating lease involving Absolut Facilities Management and the Orchard Park facility entity, adding a lease dispute to the restructuring backdrop through the adversary complaintDkt. 1.
The operating runway was built around Capital Finance, LLC: the court entered a final financing and cash-collateral order authorizing postpetition financing, cash-collateral use, and adequate protection, while recognizing roughly $5.64 million of prepetition secured exposure across HUD and non-HUD loan agreements secured by first-priority liens on substantially all personal property and healthcare receivables in the final DIP and cash-collateral orderDkt. 264.
The case ultimately moved onto a creditor-committee-sponsored reorganization path. The committee filed the Third Amended Chapter 11 PlanDkt. 560, which provided a 6% recovery for general unsecured creditors, then filed an amended preserved-causes-of-action exhibit through the plan supplement noticeDkt. 582. Confirmation followed three days later, fixing the current restructuring posture around plan implementation rather than an open sale or contested financing process.
