Medical Properties Trust in its global settlement with chapter 11 debtor Steward Health

On September 11, 2024, Medical Properties Trust, Inc. (NYSE: MPW) announced a global settlement with chapter 11 debtor Steward Health Care System, Steward’s secured lenders and Steward’s Official Committee of Unsecured Creditors. Under the settlement, Steward will transfer operating control over 16 hospitals owned by MPT to new operators designated by MPT, and the prior lease arrangements between MPT and Steward will be terminated. MPT and Steward have also agreed on the allocation of proceeds from the sale of other hospitals, and have agreed to a mutual release of debt and litigation claims.

Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Medical Properties Trust.