Judge won’t dissolve Forum union contracts
YOUNGSTOWN — Two Northside Medical Center unions have agreed that Forum Health can notify the federal Pension Benefit Guaranty Corporation that the hospital system intends to transfer its employee pension plan to the auspices of the PBGC.
As a result, bankruptcy Judge Kay Woods today denied a motion by Forum for interim relief from the union contracts, saying there was noting prohibiting Forum from initiating the process.
Also, Judge Woods extended Forum’s exclusivity period to Sept. 15, the date when its reorganization plan must be submitted to the court. During exclusivity, Forum is the only party that can submit a reorganization plan. When exclusivity ends, any interested party can submit a plan.
Also today, Forum health announced the layoff of 50 Northside employees over the next 30 days, and the closing of its behavioral health department.