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Creditors seek cash from sale of HMO

Article Abstract:

Graduate Health System is being sued by the Allegheny health system, which purchased Graduate in 1996. The basis for the suit is Allegheny's attempt to regain funds lost through Graduates's bankruptcy declaration. The plaintiffs in the suit believe that profits gained by the sale of Greater Atlantic HMO by Graduate in 1995 - prior to its purchase by Allegheny - should be used to pay off bondholders. The Philadelphia Health Care Trust, which was set up with funds from the sale, is one of the primary targets in the upcoming lawsuit. The Pennsylvania District Attorney intends to oppose the bondholder's claims in the suit.

Publisher: Philadelphia Newspapers, Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
Health Care, Health Care and Social Assistance, Financial assets, Medical care, Allegheny Health Systems, Graduate Health System (Bala Cynwyd, Pennsylvania)

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Pa. sues Allstate, claiming deception

Article Abstract:

The state attorney general of Pennsylvania, Mike Fisher, said that he has filed a lawsuit against Allstate Insurance Co. Mr. Fisher is alleging that Allstate improperly settled claims by discouraging customers from commissioning attorneys. Allstate strongly denied the charges. The company, the largest auto insurance firm in Pennsylvania, claimed that it was only attempting to give customers information to offset the continuous advertising of plaintiffs' attorneys.

Comment:

Allstate sued by Pennslyvania for improperly settling claims by discouraging customers from hiring attorneys

Author: Dilanian, Ken
Publisher: Philadelphia Newspapers, Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Property and casualty insurance, Abstract, Allstate Insurance Co.

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