Nursing-home owner Shlomo Rechnitz won approval from a federal judge to buy 19 nursing homes out of bankruptcy in southern California, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Catherine Bauer on Monday approved the winning offer from Rechnitz, who offered to pay $62 million cash for nursing home operator Country Villa Health Services. The company filed for bankruptcy earlier this year, blaming its financial troubles on the cost of fighting several lawsuits and funding delays from California's health care program.
