Minnesota Judge Weighs Facts in Defaulted Housing Bond Case

Hume, Lynn
November 2004
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p5
Trade Publication
the article reports on defaulted housing bond case in Minnesota. A Minnesota judge has until February 16, 2005 to decide whether to approve a bank trustee's proposal to sell two troubled, low-income multifamily housing projects in North Carolina to pay off senior-lien bondholders--an action opposed by two mutual fund companies that hold $5.6 million of the junior-lien bonds, several lawyers said yesterday. However, Judge Margaret Marrinan of the Ramsey County, Minnesota, District Court indicated at a November 18, 2004 hearing in the case that while she had 90 days to reach a decision, she probably would not take that long.


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