Scrushy's Vestavia Home sold; Will be 2010 Designers' Showhouse - WBRC FOX6 News - Birmingham, AL

Scrushy's Vestavia Home sold; Will be 2010 Designers' Showhouse

BIRMINGHAM, AL (WBRC) - Less than a handful of spectators gathered on the front steps of the Jefferson County Courthouse Monday.  At exactly noon, a Jefferson County Sheriff's Deputy opened bids for on the Vestavia Hills home of Health South CEO Richard Scrushy.

Within less than five minutes, it was sold.  Attorneys for Health South share holders were the only bidders and bought the home for $4.25 million dollars.  That was the amount the home was appraised at in October.  "For the last three months, no one's been able to go in the house," said John Haley, an attorney for shareholders.  "Now we'll have the opportunity to let people in and inspect it, look at it, make a decision."

Pictures of the home show its massive kitchen, expansive bathroom, large closets and TV room, outfitted with built-in cabinetry and panels.  There's also an outdoor pool and courtyard.  "It has approximately 10 acres of land, about 16-thousand square feet," Haley says.  "So it's quite a home."   Now that shareholders own the house, attorneys will turn around and auction it off.  In order to give the public a chance to view it, the home will serve as the 2010 Decorators' Showhouse.  The annual event is a fundraiser for the Alabama Symphony Orchestra and open to the public at large.  "We're dumbfounded," said Lyn Gibson, one of three co-chairpersons for the event.  "We don't know what to do.  We know everyone will want to come see this because of the notoriety it's gotten."

Even though scrushy's house went for 4.25 million Monday, it won't even begin to chip away at the 2.8 billion dollars Scrushy owes shareholders.  Until it's paid off, the judgment accrues a million dollars of interest a day.  So the ale will essentially only pay for four days of interest.  Attorneys admit they'll likely never get it all, but they say they will go for all they can.  "For him, he should be held responsible and accountable," said John Somerville, an attorney for Health South Shareholders.  "It shows no one is above the law."

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