December 4, 2024 – Something is seriously wrong at AIL. The evidence is everywhere. Empty offices, disconnected phones, furniture fire sales, and no word from management. Several major AIL agencies appear to have shuttered their operations in early November 2024. Offices are being put up
October 25, 2024 – Yale New Haven published its proposed amended complaint against the Prospect group on October 22, 2024. The complaint details that Prospect is in equally bad shape, if not worse, than Steward. So dire is the situation that Prospect’s Waterbury Hospital’s neonatal
October 22, 2024 – In Q2 2023, MPW engaged in significant uncommercial round-trip transactions with its European tenants, Median and Priory Group, via sale-leaseback transactions. Both tenants are owned by Waterland Private Equity. MPW’s assertions about the solvency of its tenants are fairytales told to
October 18, 2024 –Arbor’s systematic can-kicking exercise continues to fail, as Arbor is forced to purchase bad loans from its CLOs and modified loans become delinquent once more. Federal rate cuts have not provided any respite for Arbor’s almost exclusively distressed borrowers, as DSCR of
October 16, 2024 –Viceroy Research has obtained copies of Arbor’s CLO prospectuses, which shows that Arbor is deficient in the servicing of these deals. A correction and completion of Arbor’s servicing deficiencies would result in a Mandatory Redemption event. Under the terms of the CLO,
October 15, 2024 – Late on October 14, 2024, Medical Properties Trust (“MPW”) issued a press release[1], signed only by the independent members of MPW’s Board. It states that the findings of an independent investigation conducted by Wachtell, Lipton, Rosen & Katz (“Wachtell”) completed in
October 11, 2024 – On October 8, 2024, Viceroy’s counsel received a letter from Trumbull County Commissioner, Niki Frenchko, requesting the release of Medical Properties Trust (MPT/MPW)’s discovery information in the public interest of their community. We have attached the letter to this report. The
October 1, 2024 – MPW’s lawyers have submitted a heavily redacted, hilarious brief to the court ahead of a status conference to be held today. In this brief, MPW have taken completely irrelevant and out of context messages from Viceroy’s communications, redact them, and claim
September 25, 2024 – Below is Viceroy’s brief on status conference issues. Steward’s bankruptcy filings have more than exonerated our thesis, from the round-tripping of payments to the inflated values of MPW’s real estate. Viceroy intends to file a summary judgement motion to dismiss MPW’s
September 19, 2024 –Despite rampant modifications across >70%% of its CLO book, Arbor’s loans remain deeply distressed. Substantially all investments underlying Arbor’s loan book are inherently unprofitable, as DSCR of investments continue to rapidly fall to 0.48x. Federal rate cuts will not revitalize Arbor’s book.
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