Chateau Senior Services Division: Phoenix Management Services Client Chateau Senior Services, LLC, et al. (“Chateau" or the “Company” ?) was a privately-held operator of nursing home facilities in Pennsylvania and Massachusetts with annual revenues of approximately $40 million. Problem The Company entered into a sale leaseback transaction for the five nursing home facilities it owned and operated. Prior to and continuing after the sale leaseback transaction, the Company experienced State licensing issues with one of its facilities which resulted in a working capital drain on the business. The following year, one of the Company’s other more profitable nursing home facilities experienced issues with the State Department of Health, resulting in a temporary closure of the facility and reductio

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