Bankruptcy

Enviva's $353 million in tax-exempt bonds currently are among the liabilities at stake in the company's Chapter 11 bankruptcy.

The bankruptcy of Iowa City's Mercy Hospital is closer to an end with the resolution of a dispute between unsecured creditors and the trustee and bondholder.

There is no timetable for rulings in bankruptcy case or appeal of lien rulings, which could lead to months of additional work on a new payment plan.

The Chapter 11 case for Harvest Gold Silica follows two other bankruptcy filings over the last year by entities that sold bonds through the Arizona Industrial Development Authority.

After two auctions, Mercy Hospital, a nonprofit hospital in Iowa City, was sold, but bondholders' recovery will hinge on the Chapter 11 liquidation process.

Bonds sold through conduit debt issuer Arizona Industrial Development Authority are involved in Chapter 11 bankruptcies filed over the last year.

Bond parties say several parts of the original trust agreement support their lien on the authority's revenues.

The county plans to sell $2.5 billion of tax-exempt sewer revenue warrants to refund the debt issued to finance its 2013 exit from Chapter 9 bankruptcy.

SIFMA, which also filed a brief, said the District Court judge's rejection of a bondholder lien on PREPA's revenues "grossly misreads the underlying bond documents."

Court-approved asset sales and bond exchanges are pushing a participant sports venue, a hospital, and a senior living community closer to exiting Chapter 11.