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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
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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
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Amid bankruptcy proceedings, the project's owner and bondholders agreed to a plan to re-issue most of the defaulted debt.
July 18
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The proposed exchange — which extends the final maturity date by two decades but offers features like a tax levy with a direct intercept and trust estate — is the cornerstone of the consent agreement the city struck with a group of 2007 bondholders
July 12
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Bondholders invested in the redevelopment of Elvis Presley's Graceland Mansion were left singing the blues after borrowers missed another scheduled debt service payment.
July 12
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A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.
July 10
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The construction manager of the beleaguered mall/entertainment complex in New Jersey says it is owed more than $30 million for unpaid work and accrued interest.
June 21 -
Clare Oaks' history of fiscal struggles resulted in two bankruptcy filings, the most recent leading to a bond exchange in 2020.
June 20
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"Stakeholders believe the best solution is to utilize the bankruptcy process to run a marketing and sale process," Friendship Village of Schaumburg said in a statement.
June 13
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Harvey and its advisors are in the process of notifying holders of its defaulted 2002 and 2007 bonds of its upcoming exchange offer.
May 17
