But it no longer owns Southern Cross, having floated it on the stock market in 2006.
The government has been putting intense pressure on landlords not to abandon Southern Cross altogether.
There, republicans have pledged to unfurl the navy and white Southern Cross, a symbol of defiance.
As for the current government, the problems at Southern Cross pose a series of policy questions.
So Blackstone of the US created Southern Cross in its current shape, having disposed of the care-home group's properties.
It comes after provider Southern Cross collapsed, causing distress and anxiety to its residents and their families.
Southern Cross, which operated Orchid View, closed the home last year following allegations of ill-treatment and neglect.
BBC: Orchid View Care Home neglect inquiry: Man held over death
Southern Cross, in particular, has found itself with a fixed, and increasing, rental obligation that it cannot meet.
That was certainly the case when we highlighted concerns with the now collapsed Southern Cross care homes.
It is NHP, Southern Cross's most important landlord by far as owner of 249 of Southern Cross's homes.
Southern Cross said that the landlords were still committed to providing continuity of care to its 31, 000 residents.
One of those private providers, Southern Cross, is in deep financial trouble.
The current expectation is that Southern Cross will survive, but massively slimmed down and trading under a different name.
However, the largest landlord, NHP, which owns 249 of Southern Cross's homes, is expected to stick with Southern Cross.
There is an important meeting on Wednesday afternoon between Southern Cross, representatives of its 80 landlords, and the government.
According to sources close to the company's landlords, contracts to operate several hundred homes could be removed from Southern Cross.
The landlords reduce the rent, perhaps gain a piece of the Southern Cross equity as compensation and the company survives.
Liberal Democrat AM Peter Black asked an urgent question on the provision of care in Welsh Southern Cross care homes.
If NHP were to agree to cut rents payable by Southern Cross then Southern Cross would probably have a viable future.
Some landlords are furious with Southern Cross's decision to unilaterally cut rents.
And the network, Southern Cross Austereo, suspended all prank calls, pulled advertising and ordered a comprehensive review of relevant policies and process.
Now there is one company that is probably more important to the stability of Southern Cross and its residents than any other.
That said, and to repeat, if NHP's and Southern Cross's interests can be aligned, Southern Cross could perhaps have a viable future.
Which is why a meeting on Wednesday between Southern Cross, its 80 landlords, the Department of Health and lenders is so vitally important.
If they make that pledge, it is probably reasonable for families and local authorities to trade with Southern Cross on a business-as-usual basis.
Southern Cross said all advertising had been pulled from 2DayFM until "at least the end of business Monday" after several large advertisers pulled out.
At best, the rubble of Southern Cross will survive as an outsourcer of back-office services, such as payroll, to a small collection of landlords.
FORBES: What Southern Cross Tells us About Privatising Public Services
Most of the hundreds of homes to be removed from Southern Cross's control would continue to operate as care homes, but under new management.
Southern Cross, the troubled care homes provider, could be slimmed down to between 250 and 400 homes, from the current 751 homes, I have learned.
"All our landlords are committed to achieving a consensual solvent outcome to this process where a restructured Southern Cross emerges, " Christopher Fisher told John Humphrys.
应用推荐