Medicaid regulators told a bankruptcy judge that the Rehabilitation Center of St. Petersburg can't survive without the government program's promise to pay for low-income patients, making the Florida nursing home's proposed reorganization impossible, Dow Jones Daily Bankruptcy Review reported today. In court papers filed on Monday, lawyers for Medicaid formally opposed the nursing home's reorganization plan, which describes how the facility would repay its debts to get out of chapter 11 protection. The 159-bed nursing facility would continue operating under the ownership of Miami resident Tzvi Bogomilsky, court papers show.
