A bankruptcy judge last week approved the use of state grant money to defease $21.6 million of outstanding bonds issued by the Dormitory Authority of the State of New York on behalf of bankrupt Victory Memorial Hospital in Brooklyn. The authority expects to defease the bonds on Aug. 1.

In 1999, DASNY sold $37.3 million of bonds on behalf of the nonprofit hospital, which filed for Chapter 11 bankruptcy in November 2006.

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