Healthscope landlords lash rescue plan, claiming it enriches offshore hedge funds

Healthscope’s major landlords have publicly opposed the receiver’s proposed not-for-profit rescue, arguing that rent concessions would effectively subsidise offshore distressed debt funds that acquired the hospital group’s $1.7 billion loan at deep discounts, setting up a high-stakes negotiation between McGrathNicol, lenders and property owners over whether reduced rents and tax advantages can sustain the remaining network without shifting losses onto landlords and taxpayers.

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