According to this article in the Chicago Tribune, before purchasing a nursing home, Rauner’s health care company had only $150,000 in total declared liabilites.
After some years of mismanagement his liabilities rose exponentially:
Jannotta, GTCR and other onetime owners of Trans Healthcare are defendants in the bankruptcy case, accused by plaintiffs’ attorneys of selling the chain in a complicated transaction to dodge liability for what grew to more than $1 billion in tentative wrongful death judgments secured by the estates of several nursing home patients. GTCR attorneys argue that the firm was far removed from the operation of the nursing homes in questionand contend the plaintiffs’ lawyers are on a fishing expedition to extract payouts from deep-pocketed businesses.
And perhaps that is the problem, everyone is “far removed” from taking proper care of nursing home patients.
Read the article here:
But the real problem is, we are building…
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