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VOL. 128 | NO. 83 | Monday, April 29, 2013

Settlement With Nonprofits Could Bring $40 Million

AP

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NASHVILLE (AP) – A long-standing legal dispute between two publicly traded healthcare companies and the receiver for two Tennessee non-profit corporations could ultimately result in $40 million going to charities in the Volunteer State.

State Attorney General Bob Cooper's office announced Friday that a settlement had been reached between National Health Investors, National HealthCare Corp. and the court-appointed receiver for two Tennessee nonprofits.

Cooper had previously asked a Nashville judge to place NHI and NHC in receivership. The receiver turned around and sued the companies over concerns about the financial terms in deals involving nursing home facilities sold to nonprofits.

Cooper's office said the settlement terms, along with the liquidation of assets, will result in a $40 million payout.

The settlement still has to be approved by a court.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
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