Taking months to finalize, the sweeping deal between Steward, its creditors and landlord Medical Properties Trust at times appeared impossible to finalize. All parties have been working around the clock to determine how to appropriately allocate proceeds from the sales and how to keep hospitals open.
Steward just filed a lawsuit against Medical Properties Trust in Houston bankruptcy court, claiming the landlord directly spoke with bidders without notifying the hospital operator in a manner that violated a bankruptcy judge’s order.
A Texas bankruptcy court will determine the timeline of the sale of Steward Health Care System’s hospitals. Steward is proposing a June 24 deadline to make bids on the hospitals, an auction on June 27 and a sale hearing on July 2.
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