Allegheny seeks to change its accounting firm

Article Abstract:

The Allegheny Health, Education and Research Foundation is asking U.S. Bankruptcy Court Judge M. Bruce McCullough to determine whether accounting agency Deloitte & Touche can conduct auditing services of its financial system. Allegheny's financial records have been questioned by bond-rating analysts which may be explained by the fact that the foundation has not been audited by outsiders other than Coopers & Lybrand. Coopers & Lybrand, which switched to the name PricewaterhouseCoopers, conducted its last audit of the foundation in June 1997, noted PricewaterhouseCoopers director of media relations David Nestor.

Comment:

Is being questioned by The Allegheny Health, Education and Research Foundation over its ability to conduct auditing services

United States, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Religious, Grantmaking, Civic, Professional, and Similar Organizations, Nonprofit Institutions, Nonprofit organizations, Article, Deloitte & Touche

---

Genesis obtains reprieve on debt

Article Abstract:

A group of lenders led by Mellon Bank has given a reprieve to Genesis Health Ventures Inc., allowing it a 60-day extension to make a $3.8 million interest payment on its senior debt. Kennett Square, Penn.-based Genesis Health, which has $1.5 billion in outstanding debt, has hired Merrill Lynch and Co. to advise it on restructuring its assets.

Commercial Banks, Commercial Banking, Nursing & Rest Homes, Nursing and Residential Care Facilities, Pennsylvania, Nursing and Personal Care Facilities, Nursing homes, Genesis Health Ventures Inc., Mellon Bank Corp., GHV, MEL

---

Similar abstracts:

• Abstracts: 2 companies take an interest in Allegheny. Tenet Healthcare open for business. Fox Chase secures $38 million for center
• Abstracts: Vanguard tried again for Allegheny. Marlton company accepts a suitor. Universal Health buying 12 hospitals
• Abstracts: Group tops Bell and AT&T for Pa. telecom contract. 4anything.com slashes staff, obtains additional financing. Pegasus uses DirecTV to grow in rural areas
• Abstracts: SmithKline to acquire dental-care company. Merger of drug firms is planned. NovaCare unit's merger completed
• Abstracts: Latest changes at Penn Health System have some optimistic. Ex-HMO officials' job: Helping navigate rules. In Phoenixville, a flare-up over Penn Health

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.