Current posture

What matters now

Platinum Heights is pursuing a sale-backed Chapter 11 exit for Heights Hospital, with the proposed transaction providing for a $28.5 million cash purchase by Wood Lane Partners and a plan administrator-led wind-down after closing, as described in the witness and exhibit list Dkt. 343. The Houston medical-building owner filed on February 20, 2025 after lease-related financial stress contributed to missed payments under its B1 Bank loan; the debtor reported $28.49 million of principal and accrued interest under that note as of the petition date in its disclosure statement Dkt. 281. The case's first confirmed sale plan did not reach an effective date after its proposed buyer failed to close, prompting B1 Bank to seek stay relief and the debtor to pivot to a new joint-plan strategy in the stay-relief motion Dkt. 231. The capital structure identified so far comprises at least $42.7 million of funded debt, including B1 Bank's first-lien mortgage and affiliate loans. To preserve the property during that transition, the court authorized continued cash-collateral use under a budget, subject to a 15% weekly variance, and granted B1 Bank…

Updated Aug 10, 2026