The courts suspended the publication of a call for offers for the purchase of St Philip’s Hospital by three months after developer Carlo Stivala declared interest in acquiring it.

The ruling was delivered by Judge Ian Spiteri Bailey in the ongoing case filed by HSBC Bank Malta Ltd over unpaid loans against The Golden Shepherd Group Ltd, the company owned by Dr Frank Portelli, which formerly operated St Philip’s.

As reported by TVM, Judge Spiteri Bailey said that while Mr Portelli has made similar declarations about potential buyers in the past, this latest one appears to be more detailed and substantive.

The Office of the Official Receiver will now set up a meeting with Mr Stivala, during which he or his company must formally declare their interest to purchase St Philip’s in writing.

Mr Stivala must also present the Official Receiver with a detailed implementation plan, along with a proposal outlining how he intends to satisfy the claims registered with the Office.

The Official Receiver must submit an assessment of Mr Stivala’s plans by the end of February and no agreement can take effect unless authorised by the courts.

Mr Stivala confirmed with WhosWho.mt this week that he plans to restore St Philip’s it into a hospital and an elderly care home.

He said that he views the abandoned Santa Venera hospital as a big opportunity, particularly in light of Malta’s ageing population.

Although he has traditionally invested in hotels, he said he plans to expand his business portfolio.