Replies to post #32283 on Pinnacle Business Management (Prev SRCI)

[fung_derf]

Well I'm a bit surprised.

[BullNBear52]

Can't blame them for trying...

Court: Health South not due refunds on taxes paid during fraud
BIRMINGHAM, Ala. (AP) – Health South Corp. isn’t due a refund on property taxes it paid on bogus assets during some years of a huge financial fraud, a state appeals court ruled Friday.
The Alabama Court of Civil Appeals denied the company’s request to overturn a decision by a probate judge in Jeffer­son County, where the reha­bilitation and medical ser­vices company is based.
Health South, which re­turned to the New York Stock Exchange on Thursday after a 31/ 2 year absence brought on by the accounting scandal, claimed it should recoup an unspecified amount of money that it overpaid in property taxes in 2001 and 2002, the year before the fraud was un­c overed.
But the court ruled 5-0 that Health South could not now profit from the overstatement of earnings during those two years.
“Health South cannot be permitted to take advantage of its own wrong by receiving a refund based on its own in­equitable conduct,” said the decision by Presiding Judge John Crawley. “There is no eq­uity in allowing Health South to obtain relief from its own fraudulent scheme.”