NASHVILLE, Tenn. (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.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.