Economy

Eugene

(67,319 posts) Mon Oct 16, 2017, 06:29 PM Oct 2017

U.S. nursing home chain faces landlord showdown over default

Source: Reuters

#U.S. LEGAL NEWS OCTOBER 16, 2017 / 1:58 PM / UPDATED 4 HOURS AGO

U.S. nursing home chain faces landlord showdown over default

Tracy Rucinski
4 MIN READ

CHICAGO (Reuters) - The fate of one of the largest U.S. nursing home operators, HCR ManorCare, will reach a critical court deadline on Thursday in a battle over months of unpaid rent, a growing problem in an industry where eviction would put thousands of elderly out on the street.

Many nursing home chains spun off their properties to real estate companies over the last decade to unlock value. Now those landlords need to deal with operators behind on their rent without harming thousands of elderly residents.

In a lawsuit filed in August, HCR ManorCare’s landlord, Quality Care Properties Inc, said the chain owes more than $300 million in rent at its 292 skilled nursing and assisted living locations.

ManorCare has until Oct. 18 to respond to the lawsuit Quality Care filed seeking to replace management with a court-appointed receiver who would oversee everything from laundry and meals to patient care at ManorCare’s facilities.

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2 replies

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Highlight:

U.S. nursing home chain faces landlord showdown over default (Original Post) Eugene Oct 2017 OP

Let me guess the owners will not loose one damn penny and being able to walk away DK504 Oct 2017 #1

So another Screw up by Wellstone ruled Oct 2017 #2

DK504

(3,847 posts)

1. Let me guess the owners will not loose one damn penny and being able to walk away

Reply to Eugene (Original post)

Mon Oct 16, 2017, 06:36 PM

Oct 2017

while thousands are stranded in shit conditions. Does the Moron have stake in this?

Wellstone ruled

(34,661 posts)

2. So another Screw up by

Reply to Eugene (Original post)

Mon Oct 16, 2017, 06:42 PM

Oct 2017

the Carlyle Company,isn't this Bush Crime Family as well as Dan Quayle? Marvin Bush?

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