TITLE

Chicago charity defaults on nursing home debt payments

AUTHOR(S)
Ward, Andrew
PUB. DATE
January 1999
SOURCE
Bond Buyer;01/22/99, Vol. 327 Issue 30563, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that Chicago, Illinois-based Malachi Corp. has collapsed into default after missing debt service payments due in December 1998 on a portion of tax-exempt bonds it sold in 1996. Use of proceeds from the bond sale to buy 12 nursing homes from Healthbank Network Development Inc.; Coupon payments being made by the trustee, Norwest Bank Corp.; Preliminary investigation of Malachi's financial troubles.
ACCESSION #
1542655

 

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