30-06-2025
- Business
- Wall Street Journal
Steward Health Plans Litigation to Unwind Transfers to Cerberus, Other Insiders
An internal investigation by bankrupt Steward Health Care System found that its former owner, Cerberus Capital Management, and its former chief executive, Ralph de la Torre, improperly extracted over a $1 billion in payouts from the hospital chain over the past decade when the company was insolvent.
In court papers filed Friday, independent manager Alan Carr outlined legal claims the hospital chain's bankrupt shell company plans to pursue as a way to claw back funds for the company's top-ranking lenders and other creditors. Many of the report's findings about payouts to Cerberus, de la Torre and other insiders were reported by The Wall Street Journal last year.
