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At least two schools are facing the legal costs of terminating the transactions as well as pursuing alternative financing for almost $500 million in construction projects.
October 24 -
Plans for a garbage-to-jet fuels facility in Gary, Indiana, are on hold after bonds for the same operator's plant in Nevada went into default.
October 20 -
Legacy Cares, which filed for bankruptcy in May, is trying to sell Legacy Park, which was financed with now-defaulted bonds issued in 2020 and 2021.
October 4 -
The settlement, which hinged on a successful exchange of old bonds for fresh debt, resolves long-running investor litigation.
August 29 -
Bondholders granted some breathing room to the speculative-grade polypropylene recycling project along the Ohio River, now reported to have entered production.
August 15 -
While acknowledging disputed allegations of mismanagement and infractions on the part of venue owner Legacy Cares, the judge denied a motion by the U.S. trustee in the Chapter 11 bankruptcy to appoint an independent trustee or dismiss the case.
August 10 -
Mercy Hospital plans to sell facilities and other assets to the University of Iowa, which approved $20 million for the acquisition.
August 9 -
Major bondholder Preston Hollow and the trustee for $86 million of debt sold for Mercy Iowa City in 2011 and 2018 pointed to default events.
August 1 -
Tax-exempt bonds issued for the American Dream mega mall backed by New Jersey economic development grants are poised to miss a third straight interest payment.
August 1 -
Bondholders, other creditors, and the venue's owner argued the U.S. trustee's move would be detrimental for a plan to sell the facility to maximize recoveries.
July 21