Subsidiary may join AHERF's creditors
Article Abstract:
Allegheny Health Education and Research Foundation's (AHERF) subsidiary in the Cayman Islands may be among the creditors owed by the bankrupt health care company. AHERF of Pittsburg, PA, had provided malpractice and other professional liability coverage to the subsidiary's hospitals and doctors through another AHERF subsidiary, the Allegheny Health Services Providers Insurance Co. AHERF attorneys, however, believe the subsidiary still has sufficient funds to cover future claims. AHERF has at least $60 million of reserves to cover a total of $127.5 million in future self-insurance liabilities arising from all of its hospital affiliates.
Comment:
A subsidiary in the Cayman Islands may be among the creditors owed by the bankrupt health care company
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Board rebuffs CEO Sanzo's offer to quit
Article Abstract:
Allegheny Health Education and Research Foundation's (AHERF) board has denied the resignation of new company president Anthony Sanzo. The resignation of Sanzo, who replaced ousted AHERF President Sherif Abdelhak in June 1998, came up during a meeting the board about fixing the Allegheny organization, according to a spokesman of AHERF. The resignation issue came up despite disclosures that Sanzo was among the six top executive that had received a package of stock incentives and low-interest loansin March 1998, amidst company losses reaching almost $1 million a day.
Comment:
PA: Allegheny Health Education & Research Foundation's board rejects resignation of new co president Anthony Sanzon
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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AHERF finds errors by auditors in '97 records
Article Abstract:
Allegheny Health Education and Research Foundation, the parent foundation of Allegheny General Hospital, has found errors in its audited financial statements in 1997. The errors include at least two discrepancies that had increased the foundation's bottom line in the fiscal year that ended June 30, 1997. The foundation, along with its former outside auditors, are going into the financial statements again for irregularities that may have impressed a false picture of the foundation's financial status.
Comment:
PA: Allegheny Health Education & Research Foundation founds errors in its audited 1997 financial statements
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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