GMH pushing through with paperwork for $25M loan - KUAM.com-KUAM News: On Air. Online. On Demand.

GMH pushing through with paperwork for $25M loan

by Krystal Paco

Guam - With the signing of Bill 250 into law earlier this week, it appears Guam Memorial Hospital will finally get around to paying outstanding debts.

As GMH administrator Joseph Verga tells KUAM, he's signed off on paperwork relative to the $25 million loan to be used to pay down vendors threatening to cut critical services. This paperwork has been forwarded to legal counsel where it will then be transmitted to the Attorney General's Office for review.

As we reported earlier this week, Governor Eddie Calvo called an emergency session Monday afternoon for lawmakers to address the legislation which amends current law over sovereign immunity after concerns were raised by the lender. The following day Calvo also signed off on the legislation bringing hospital finances back in stable condition.

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