Bankrupt hospital operator Steward Health Care on Wednesday received court approval of a settlement with landlord Medical Properties Trust, clearing the way for a sale of more than a dozen remaining hospitals. U.S. Bankruptcy Judge Christopher Lopez approved the settlement at a court hearing in Houston, Texas. Lopez said the settlement, which removed the most significant roadblock to Steward’s efforts to sell its struggling hospitals, was a “remarkable” turnaround for Steward’s bankruptcy. Before the deal, Steward had sued its landlord as part of an acrimonious dispute over how to divide future sale proceeds between the real estate, which MPT owns, and Steward’s hospital operations.
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Source: https://www.reuters.com/legal/government/steward-health-gets-approval-landlord-settlement-florida-hospital-sales-2024-09-11/