creditors challenge gzo hospital's property valuation ahead of crucial meeting

The recent property valuation conducted by GZO Spital Wetzikon has raised concerns among the Clearway Capital creditors' group. They believe that the valuation significantly undervalues the properties.

The creditor group, led by investor Gregor Greber, claims that their own valuation, done with industry experts, indicates a much higher value for the real estate, taking into account zoning and alternative uses. They are confident that if the properties were liquidated, enough value could be generated over time to satisfy all creditors.

The upcoming creditors' meeting on October 25, 2024, will focus on the repayment of a CHF 170 million bond issued by the insolvent hospital in Wetzikon. The Clearway Capital group, which holds over six percent of the bond's value, intends to oppose the hospital's restructuring plan but is unsure about their chances of success.

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