24 Hrs
Source:
The Boston Globe
Cerberus settles with creditors
Cerberus Capital Management reached a secrecy-covered settlement with creditors over the collapse of Steward Health Care, a once large private hospital chain in the U.S. The agreement, approved by a court, provides creditors with significant value but does not disclose dollar amounts, while Cerberus denies any wrongdoing. Steward filed for bankruptcy amid financial struggles, staff shortages, unpaid bills, and operational failures that contributed to patient deaths, selling hospitals and accruing debt, with some parties seeking extensive claims. The settlement marks the end of a two-year bankruptcy process, but questions about accountability for the chain’s collapse remain.
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