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CCS Oncology owes $18M to landlords, suppliers and other top creditors

CCS Oncology and its affiliated companies owe $18.1 million to its 20 largest unsecured creditors, according to a document filed in U.S. Bankruptcy Court in Buffalo.

The bulk of that debt is owed to Bank of America, which sued the private cancer practice after its owners defaulted on more than $16 million in loans. After a federal district judge in March authorized Bank of America to seize CCS' assets, the practice last week filed for voluntary bankruptcy protection. CCS remains open during the restructuring.

The 20 creditors on the list include landlords, medical suppliers, law firms, consultants and The Buffalo News. Aside from Bank of America, the other 19 creditors are owed nearly $1.6 million in all.

Also, a bankruptcy court judge has issued emergency orders granting CCS permission to spend $168,000 on medications purchased from McKeeson Corp. and its affiliates and $83,409 on medical malpractice premium loan payments to IPFS Corp. A hearing is set for later this week on CCS' request to pay wages and benefits to its employees.

CCS Oncology vows to keep serving patients as it files for bankruptcy protection

 

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