GMH loan delayed - KUAM.com-KUAM News: On Air. Online. On Demand.

GMH loan delayed

Posted: Updated:

by Jolene Toves

Guam - GMH didn't get the Christmas miracle it was hoping for but there is still hope that crisis can be avoided.

The Guam Memorial Hospital had high hopes of receiving the funds from the $25 million loan before the end of the year but it appears that may not be possible as the documents for the loan has gone back to the lawyers. "There's some language in the documents that needs to be modified and clarified we discussed it yesterday and sent it back to the Bank of Guam's lawyers letting them know the language that needs to be modified and clarified. There are some related to the security issues and assignment of revenues that were not there before so we want to make sure that they're clear and we're clear on how things are operating," said Joseph Verga, GMH's administrator.

"There was a surprise clause in this that we said on no we didn't agree to that so it had to go back to them to say no this has to be removed or reworded because it wasn't what we agreed to."

As we reported the loan could help put GMH back in good graces with a number of its vendors and while the loan is eminent Verga was hoping to meet the January 1 deadline to pay off the $5.3 million debt to the vendor Perry Point, which threatens the hospital's Medicare funding. "I have been cautiously optimistic that even after the first of the year comes and we don't have the loan that garnishment will not automatically kick in," he said.

While he cannot guarantee there will not be any negative ramifications he says he is in communication with the vendor and the federal government about the status of the loan. Once the review has been completed by all parties lawyers it will then go to the Attorney General's Office for review and approval before making its way to the governor's office for final approval. 

  • NEWS HEADLINESMore>>

  • Find awesome deals on the Shop Guam app

    Find awesome deals on the Shop Guam app

    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
  • GFD back up to 8 operable ambulances

    GFD back up to 8 operable ambulances

    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
  • Government wants full payment from Ray Charles Tedtaotao Camacho

    Government wants full payment from Ray Charles Tedtaotao Camacho

    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
Powered by Frankly