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Some of the properties owned by Ventas are managed by Sunrise Senior Living (NYSE:SRZ), a company facing a number of problems, including possible bankruptcy.
HCP, Inc. (NYSE: HCP) is in the same situation as Ventas -- some of HCP's properties are managed by Sunrise. Recently, HCP filed a lawsuit against Sunrise with respect to Sunrise's management of HCP's properties. "The complaints, filed in the Delaware Chancery Court on June 29, 2009, allege, among other things, that Sunrise systematically breached various contractual and fiduciary duties, including operating the properties in a manner that impermissibly favored the interests of Sunrise and its affiliates at the expense of HCP and its tenants. In addition to equitable relief and money damages relating to the defaults, HCP and its tenants are seeking judicial confirmation of rights to terminate the agreements on the 64 properties." http://finance.yahoo.com/news/HCP-Initia... Shouldn't Ventas be investigating whether it too has a cause of action against Sunrise? Rating :
  (3 Ratings) |
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the VTR properties managed by Sunrise
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lancelasers... |
 
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5-Jul-09 08:41 am | ||
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These reits have no one to blame but Goldman Sachs...
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bgamall4 | (2 Ratings) | 20-Jul-09 11:48 pm | ||
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they will get theirs -- be patient
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FunnieBucke... | (1 Rating) | 23-Jul-09 05:00 pm |
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