September 29, 2023 – Below is Zurich American Insurance Company’s supplemental brief in Medical Properties Trust’s appeal. MPW and Steward lost their case against the AGLIC and Zurich Insurance. They are appealing but it raises questions about what MPW can reasonably expect back in light
September 26, 2023 – Among many of MPW’s off-balance sheet investment vehicles sits the Swiss entity, Infracore. MPW owns 70% of the economic interests in Infracore, who’s almost-sole tenant is Swiss Medical Network: MPW’s 4th largest tenant on a “adjusted gross asset basis”. By our
September 12, 2023 – Below is Tenet’s motion for final judgement against MPW tenant Steward for collection of DPP payments. We note the following passage of interest: “To the contrary, there is significant urgency to this Motion given the substantial risk that the passage of time
September 6, 2023 – Below is Viceroy’s first request for Discovery from Medical Properties Trust.
March 17, 2023 – On March 1, 2023 MPW released its annual report for 2022. Viceroy’s analysis shows similar red flags to those raised in our Q4 2022 analysis. This report will go through those issues as well as further developments. We reiterate our belief
March 10, 2023 – On March 16, 2022 MPW completed a partnership with Macquarie Asset Management (MAM). MPW contributed assets worth $1.1b to the joint venture in exchange for an undisclosed cash payment. The joint venture would then raise secured nonrecourse debt with the proceeds
Viceroy Research has obtained Swiss bank statements which show numerous receipts from SHCS, which appear to be immediately laundered to politicians, con men, and VGH fraudsters. We thank Tacet Global’s Greg Gillespie for allowing us to access to his investigation into Accutor AG. Mr. Gillespie
March 1, 2023 – On February 23, 2023, MPW released their Q4 2022 results and held their earnings call, both of which raised several issues and confirmed Viceroy’s continued belief in the weakness of their tenant base. By our calculations, Commonspirit’s annual rent on the
February 22, 2023 – In 2022 Steward sued Tenet for payments from the Florida Detected Payments Program (DPP) it believed it was owed given the back-dated periods these receipts relate to. Particulars of amounts are heavily redacted. This lawsuit appears to have spectacularly backfired on
Steward International will die on this hill. February 17, 2023 – On February 14, 2023, Steward Healthcare International (“SHCI”) threatened legal action against independent Maltese journalists and Viceroy Research in a “right of reply” essay submitted to MaltaToday. This was in response to Viceroy Research’s