Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") said today that the United States District Court for the Western District of Kentucky (the "Court") has ruled that Ventas may immediately collect the $102 million compensatory damages judgment against HCP, Inc. ("HCP") that it was awarded by a federal jury in 2009. The case stems from HCP's tortious interference in connection with the Company's business expectation arising out of Ventas's 2007 acquisition of Sunrise Senior Living REIT.
The Court determined that HCP could not further delay enforcement of Ventas's judgment and that Ventas may immediately collect its compensatory damages.
Ventas intends to proceed with appropriate measures to collect on the judgment.
The Court previously issued an order scheduling a federal jury trial to commence February 21, 2012 to determine whether Ventas is entitled to collect punitive damages from HCP, on account of HCP's intentional misconduct in connection with Ventas's 2007 acquisition of Sunrise Senior Living REIT, and the amount of such punitive damages. There can be no assurance Ventas will receive punitive damages or the amount of such punitive damages.