Bond defaults

Four Texas defaults reflect a sector that accounts for half of this year's municipal bond defaults, according to Municipal Market Analytics.

The SEC terminated its latest proceedings against the city after an independent consultant found the city was in "substantial compliance" with a 2014 judgment.

Mamtek US's long-running Chapter 7 bankruptcy is expected to pay out $1.6 million to the trustee for the $39 million defaulted Moberly, Missouri, bond issue.

The fiscally stressed Chicago suburb offered terms, including a 20-year maturity extension for a possible bond exchange, as it looks to restructure debt.

COVID-19 hit the Lombard, Illinois, Westin hotel and conference center hard, knocking repayment of bonds restructured in a 2018 bankruptcy off track.

Harvey began posting financial and bond delinquency notices this year as it tries to overcome its deep fiscal strains and past mismanagement that drew regulatory and bondholder ire.

Underwriter Cantone Research’s alleged fraudulent misrepresentations are tied to two defaulted bond offerings.

A lawsuit accusing underwriter Stifel of negligence on one bond issue is pending and broader claims related to the financings are being considered.

S&P has Muncie and Plainfield on its watch list with negative implications.

The reserve was used to make a $9.3 million Aug. 2 payment on about $290 million of debt. About $9.3 million is left in the fund, enough for the Feb. 1 payment.