"The state Attorney General's office has opted not to issue administrative approval of the sale, and said it must instead be reviewed by the Brooklyn Supreme Court."
"Maimonides will have to submit a petition to Brooklyn Supreme Court, the spox said. From there, a judge will schedule and hold a hearing, then make a determination as to whether the consideration and terms of the transaction are fair and reasonable."
The merger between Maimonides Medical Center and NYC Health+Hospitals, planned for April 1, faces delays due to a regulatory issue. The state Attorney General's office has decided that the merger must be reviewed by the Brooklyn Supreme Court instead of granting administrative approval. This decision follows a pending lawsuit from Maimonides' Board of Trustees. Maimonides, a nonprofit, requires approval from the Attorney General's Charities Bureau and the state's Department of Health for the sale to proceed.
Read at www.brooklynpaper.com
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