American Eagle Delaware Holding Company and certain of its subsidiaries completed a comprehensive financial reorganization to achieve a more balanced and sustainable capital structure. The company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware on April 27, 2022. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation.
As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby the company’s Vista Lake community was acquired by Atlantis Senior Living. The sale of Vista Lake has closed, and the Vista Lake community is no longer an Eagle Senior Living community. All other Eagle Senior Living communities continue to operate uninterrupted, providing high-quality care and amenities to all residents.
“Through this process, we have secured a bolstered financial structure—allowing our communities to be the place for residents to do more of what they love for years to come,” Todd Topliff, president of American Eagle Delaware Holding Company, said. “I would like to thank our residents and their family members for their ongoing support, our business partners for their patience and all of our loyal employees for their unwavering hard work and dedication to providing all residents with the highest quality of care as we have worked to complete this process. We are optimistic about our future.”
Eagle Senior Living was represented in this matter by Polsinelli as legal counsel and FTI Consulting as restructuring and financial advisor.