Oversight of Steward Health Care System’s Bankruptcy Process by South Florida Healthcare Staffing Agency and Union

South Florida healthcare staffing agency, Cross Country Healthcare, and one of the state’s largest healthcare unions, 1199SEIU United Healthcare Workers East, have been chosen to oversee the bankruptcy of Steward Health Care System. This committee, made up of nine “unsecured” creditors, will review the company’s finances and help with restructuring plans, including the sale of all 31 hospitals, including eight in Florida.

The U.S. Trustee Program appointed committee members to represent hundreds of creditors, including Florida’s Agency for Health Care Administration, who are waiting to be paid by Steward. The committee’s goal is to negotiate the best deal possible for all parties involved, although creditors with unsecured claims may only receive a fraction of what they are owed.

Despite the uncertainty for creditors, Steward’s employees can take comfort in knowing that their wage and benefit claims are usually considered a priority in court. The bankruptcy process will be closely monitored by Cross Country Healthcare and 1199SEIU United Healthcare Workers East to ensure a fair outcome for all involved.