After 11-hour deal to keep high-end continuing care retirement and life plan community open on Long Island fell through Last month, Chief Judge Alan S. Trust of the U.S. Bankruptcy Court for the Eastern District of New York set a Dec. 9 deadline for The Harborside in Port Washington, N.Y., to find a buyer or faces possible liquidation.

“Trust said it wants to know the identity of the potential buyer of the bankrupt property, the terms of the sale, how creditors will be paid and the impact on the 181 residents, whose average age is 90 years,” Newsday said. reported.

Meanwhile, Trust also scheduled a Dec. 11 hearing on a motion from the Office of the United States Trustee to dismiss the long-running Chapter 11 case.

“As the parties hopefully wait for the miraculous intervention in the form

“While waiting for a new sale to take place, the debtor’s financial condition continued to deteriorate, causing the debtor to accumulate a significant amount of unpaid post-petition administrative obligations,” said Stan Yang, attorney for the American trustee, in his 11-page document. request for dismissal.

Harborside filed for bankruptcy protection for the third time In nine years in 2023. The proposed sale to Life Care Services was removed by LCS in September, with the company saying the state took too long to review its request.

LCS spokesperson Traci McBee previously told the McKnight’s daily business that the company had been working since 2022 to buy CCRC out of bankruptcy and “restore it to a thriving senior living option for current and future residents.”

If the case is dismissed on Dec. 11, The Haborside’s assets will likely be sold under Chapter 7 of the bankruptcy code, Newsday reported.

Meanwhile, The Harborside is negotiating with two potential buyers, according to CCRC attorney Rachel Nanes, Newsday reported. Any deal would still require approval from the state Department of Health and Department of Financial Services.