The bankruptcy action came on the same day that a unit of Regions Financial Corp. (RF) sued the institute, known as FINR, claiming it defaulted on $31 million in real-estate loans. Birmingham, Alabama-based Regions Bank said in its lawsuit that patients’ welfare is at risk because of financial problems and mismanagement at the rehabilitation center in Wauchula, about 50 miles southeast of Tampa.
$30 million in the hole a lot these days?
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