Negotiations Needed to Sell Hospital Still Ongoing

A creditors committee is still trying to come to an agreement needed to sell the Hoboken University Medical Center to private bidder HUMC Holdco.

In a statement on Monday, Mayor Dawn Zimmer said that new terms were proposed to the creditors—who are currently in court to try to settle a bankruptcy agreement with the hospital—to strike a deal. the deal with HUMC Holdco will fall through, the mayor has said.

Although the mayor said on Friday afternoon a settlement was imminent "any minute," the seven-member creditors committee failed to come to an agreement over the weekend. Those terms were different from what they were presented on Friday afternoon around noon, Zimmer said.

On Friday, Zimmer said that more money was being offered to the creditors but wouldn't disclose how much, or where the money was coming from.after the city council voted down a bond ordinance for the same amount.

The parties are due back in court on Tuesday.