Bond defaults

Federal CARES Act grants and loans, and bond market access, have helped mitigate the financial damage to hospitals caused by the pandemic.

Park Place at Elmhurst would restructure and redeem $141 million of bonds issued to exit its 2016 Chapter 11 under a plan pending before a bankruptcy court.

The default-ridden Chicago suburb says the court's action to give it back control of its water operation could aid its 2021 objective of restructuring debt.

The lawsuits concern bond disclosure in South Carolina, a Florida toll bridge default, and the federal water rights fight between Florida and Georgia.

The refusal to hear the bond trustee's appeal appears to end the litigation over whether Platte County bears legal responsibility to repay the debt.

Deep bondholder losses are expected when the bonds issued for five Better Housing Foundation portfolios in and around Chicago emerge from Chapter 11.

The COVID-19 pandemic pushed the Henry Ford Village continuing care retirement community over the fiscal cliff and into a Chapter 11 filing.

TMI Trust agreed to a settlement that allows bondholders to be paid interest during the Chapter 11 case of the Roman Catholic Archdiocese of New Orleans.

The Florida Department of Transportation extended the suspension of Garcon Point Bridge toll collections because it is being used as a detour.

Toll collections on the Garcon Point Bridge have been suspended since mid-September because of Hurricane Sally, pitting the bond trustee against the state of Florida again.

The troubled south Chicago suburb hired Meristem Advisors to assist with the restructuring it agreed to in a consent decree with holders of defaulted bonds.

UMB will ask the state Supreme Court to consider its argument that Platte County is legally obligated to repay defaulted bonds issued for a shopping center.

The county has so far prevailed in legal arguments that it is not responsible for making up revenue shortfalls on shopping center bonds.

A Missouri appellate court agreed with a lower court that the county's pledge in financing agreements isn't a legally enforceable promise to make up debt service shortfalls

Under a court-approved consent decree, the impoverished south Chicago suburb will keep 90% of pledged tax revenues as it works on a debt restructuring.

UMB's appeal of a lower court decision siding with Platte County over its legal obligation to honor an appropriation pledge is being heard Wednesday

The bond-financed Chicago-area hotel and conference center remains shuttered as a result of the coronavirus health crisis.

UMB claims the bonds for the Kansas hotel project are in default because the developer failed to secure a $52 million loan required by the bond indenture.

An appellate court will weigh whether a financing agreement on the Platte County IDB bonds attached more than just a moral obligation pledge.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.