Investors to Vote on National Benevolent's Reorganization

Shields, Yvette
January 2005
Bond Buyer;1/25/2005, Vol. 351 Issue 32056, p5
Trade Publication
The article reports that investors and banks who hold bankrupt National Benevolent Association's $216 million of tax-exempt bonds will begin receiving ballots this week to vote on the organization's proposed reorganization plan. The bankruptcy court approved the distribution of a disclosure statement on the plan and the distribution of ballots at a hearing last Thursday. A consortium of banks hold the St. Louis-based not-for-profit organization's $60 million of variable-rate debt while the remaining is structured as fixed-rate and is held by a variety of investors.


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