Bond defaults

Otero County's March 13 emergency meeting to avoid a bond default did not comply with the Open Meetings Act, the state's Justice Department determined.

At least two local agencies missed debt service payments after the Cook County, Illinois, treasurer's office was unable to issue property tax bills on time.

The offer was revealed in a disclosure statement and plan of reorganization in the Chapter 11 bankruptcy.

Jeffrey Puzzullo is the fourth person to plead guilty in the now-notorious Legacy Cares case.

The lawsuits argue that the owner of American Dream and East Rutherford, New Jersey, which sets tax assessments for the mall, colluded to depress its valuation.

Potential buyers besides Emory University include Georgia-based health systems, other proton therapy operators and private equity firms.

Subordinate bondholders will likely be wiped out.

The Florida train is struggling to generate enough revenue to pay its debt.

Bank of America and Wells Fargo will lead underwriting for $1.8 billion of sales tax and revenue bonds issued through the Kansas Development Finance Authority.

The Glenwood-Lynwood Public Library District was four weeks late on a Dec. 1 debt service payment amid delays to Cook County property tax billing.

The dramatic downgrade projects a default by January 2027 on bonds issued to finance the Miami-to-Orlando passenger train service.

The company has the option to defer interest payments three times without triggering a formal default.

While the plan of reorganization says bondholders will get 100% of principal, it won't be for 12 years. And they will lose some interest.

This is the first upgrade of bonds supported by assets currently or formerly in the Puerto Rico government's hands since the passage of PROMESA in 2016.

The deal offers a better recovery than earlier deals but no principal payment for 12 years.

Attorneys for the Archdiocese said it is "inevitable" bondholders will be hit with a cramdown.

Summit Utilities Oklahoma used reserve funds to help cover an Oct. 1 payment on taxable bonds sold in 2022 through the Oklahoma Development Finance Authority.

Deston High School defaulted on series 2021A, 2022A and 2022B bonds.

Bondholders are pitted against each other in the case, where it looks like the majority holders may become owners of the distressed companies.

A TIF fund established by the Alexandria Industrial Development Authority supporting a troubled hotel renovation project in downtown Alexandria, Virginia, is reported to be in default.