AltsWire – Six Lenders, DST Agent Object as Inspired Healthcare Auction Opens Without Proceeds Split

Inspired Healthcare Capital’s court-supervised asset auction, run on a sale schedule the debtors have amended 15 times since the case began, is scheduled to proceed Aug. 25, with a sale hearing set for Sept. 15, according to court filings. In the five days before the auction, at least five secured lenders and the agent for a group of Delaware statutory trust investors filed objections raising a common defect in the sale contracts: none of them specify how the purchase price will be divided between the DST entities that hold title to the underlying real estate – where retail investors’ beneficial interests sit – and the “Master Tenant” operating companies that run the facilities day to day.

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