The court terminated Neighbors Legacy Holdings’ Unsecured Creditor Trust on December 1, 2025, and discharged the trustee and oversight committee under its trust termination order Dkt. 1302. The remaining work authorized by that order consists of final wind-down activities, with approximately $38,000 reserved from trust funds for related administrative costs.

Neighbors Legacy Holdings’ liquidation reached the termination of its Unsecured Creditor Trust on December 1, 2025. The court’s trust termination order Dkt. 1302 discharged the trustee and oversight committee and authorized final wind-down activities, including an approximately $38,000 reserve from trust funds for related costs. It also authorized, without requiring, disposal of trust records three years after termination.

The company filed Chapter 11 on July 12, 2018, after expansion of its freestanding emergency-center network collided with increased competition and deteriorating insurance reimbursements. According to the first-day declaration Dkt. 16, new centers required substantial investment and typically took 12–18 months to achieve positive cash flow. Cost reductions, closure of 13 underperforming centers and abandonment of eight planned locations did not resolve the financial strain; 22 Texas centers remained at filing. The debtors entered bankruptcy pursuing asset sales after a prepetition marketing process, with Altus entities selected as stalking-horse bidders for Houston assets.

The court’s August 8, 2018 final financing order Dkt. 193 authorized cash-collateral use and a $24 million DIP commitment comprising up to $8 million of new revolving funding and a roll-up of prepetition secured debt.

The court confirmed the debtors’ First Amended Joint Plan of Liquidation on March 22, 2019, through the confirmation order Dkt. 847. The effectiveness notice Dkt. 862, filed April 8, 2019, reported that the plan had become effective.

The court terminated Neighbors Legacy Holdings’ Unsecured Creditor Trust on December 1, 2025, and discharged the trustee and oversight committee under its trust termination order Dkt. 1302. The remaining work authorized by that order consists of final wind-down activities, with approximately $38,000 reserved from trust funds for related administrative costs.

Neighbors Legacy Holdings’ liquidation reached the termination of its Unsecured Creditor Trust on December 1, 2025. The court’s trust termination order Dkt. 1302 discharged the trustee and oversight committee and authorized final wind-down activities, including an approximately $38,000 reserve from trust funds for related costs. It also authorized, without requiring, disposal of trust records three years after termination.

The company filed Chapter 11 on July 12, 2018, after expansion of its freestanding emergency-center network collided with increased competition and deteriorating insurance reimbursements. According to the first-day declaration Dkt. 16, new centers required substantial investment and typically took 12–18 months to achieve positive cash flow. Cost reductions, closure of 13 underperforming centers and abandonment of eight planned locations did not resolve the financial strain; 22 Texas centers remained at filing. The debtors entered bankruptcy pursuing asset sales after a prepetition marketing process, with Altus entities selected as stalking-horse bidders for Houston assets.

The court’s August 8, 2018 final financing order Dkt. 193 authorized cash-collateral use and a $24 million DIP commitment comprising up to $8 million of new revolving funding and a roll-up of prepetition secured debt.

The court confirmed the debtors’ First Amended Joint Plan of Liquidation on March 22, 2019, through the confirmation order Dkt. 847. The effectiveness notice Dkt. 862, filed April 8, 2019, reported that the plan had become effective.