On December 18, the Multnomah County Circuit Court entered an order placing GridWorks Lab into receivership.
A receivership is a legal process in which a court-appointed official – the receiver – takes control of a company’s assets and operations for purposes set forth by the court. The receiver is an officer of the court and has an obligation to act in the best interests of the receivership estate and for the benefit of creditors. The purpose of a receivership is to protect, as much as possible, the creditors and customers of a company that is unable to pay its bills.
When GridWorks learned that it did not win its bid for the Ride to Care contract, it realized it could not continue paying for the services required to provide non-emergency medical transportation (NEMT) to Health Share members. Closing the company down in a Chapter 7 bankruptcy would have disrupted vital services to the Health Share community. Instead, GridWorks and Health Share worked out a receivership solution to enable a smooth transition of NEMT services from GridWorks to CareOregon and its partners.
Hamstreet & Associates has extensive experience serving as a receiver in a wide variety of industries, including healthcare. We will be working collaboratively with Health Share, CareOregon, and CareOregon’s partners to minimize disruption during the transition of NEMT services to the new system.
The receivership is a court-supervised process and documents filed in the case are public record. We will be posting all documents filed in the receivership on the Documents page of this website. The receiver will update the Documents and other sections of the website with timelines, FAQs, and contact information.
January 17: deadline for the Receiver to mail initial notice of the receivership to creditors and other interested persons.
February 17: due date for Receiver’s initial report to the court.
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