Pacific Genesis Appeals Ruling on Land-Based Financing
- California dealer says banning roving JPAs spells trouble. Marois, Michael B. // Bond Buyer;05/13/98, Vol. 324 Issue 30392, p1
Discloses that Pacific Genesis Group Inc. is warning that a bill which would curtail the use of certain kinds of land-secured financings in California will cause millions of dollars of bonds to default. Background on a California that allows local agencies to form joint power authorities (JPA);...
- California's PGG acknowledges hand in bill to revive roving JPAs. Marois, Michael B. // Bond Buyer;03/01/99, Vol. 327 Issue 30588, p3
Reports on Pacific Genesis Group's support of legislation that would make it legal to create roving joint-powers agencies (JPA) for land-based bond deals in California. Law on JPA which will be reversed by the legislation; Current regulation on the formation of JPAs by local agencies.
- Judge appoints independent reviewer for upcoming Pacific Genesis deals. Marois, Michael B. // Bond Buyer;01/13/98, Vol. 323 Issue 30309, p5
Focuses on the selection of banking and finance lawyer Bryan Merryman to review upcoming bond deals underwritten by Pacific Genesis Group Inc. Features of the lawsuit filed by the California Department of Corporation against Pacific Genesis; Total worth of bonds and notes sold by the firm which...
- Pacific Genesis Discloses Major Problems Facing Project Bonds. Hume, Lynn // Bond Buyer;05/31/2001, Vol. 336 Issue 31150, p1
Reports on Pacific Genesis Group Inc.'s revised disclosure document for the latest bond offering to finance the proposed Rancho Lucerne residential golf course community. Percentage of bonds offered for the project that were refunded or retired with bond proceeds; Supplemental disclosure...
- Judge Proposes Injunction in Pacific Genesis Case. Williams, Rochelle // Bond Buyer;02/20/2001, Vol. 335 Issue 31080, p48
Discloses that a United States District Court judge's proposed permanent injunction would order David Fitzgerald and Pacific Genesis Group to return a certain amount to investors participating in the ninth bond offering for a southern California land-backed deal the company underwrote.
- As PacGen Default Looms, High-Level Meeting Planned. Williams, Rochelle; Hume, Lynn // Bond Buyer;06/18/2001, Vol. 336 Issue 31162, p42
Reports on planned high-level meetings among investors in a troubled Pacific Genesis Group-managed northern California land development deal, to discuss options about a possible default on the project's outstanding debt. Meetings pertaining to the Roddy Ranch Master Planned Community in the San...
- IRS Probes Land-Backed Deal Parties. Hume, Lynn // Bond Buyer;12/21/2000, Vol. 334 Issue 31042, p1
Reports on the United States Internal Revenue Service's plan to audit a number of land-secured financings underwritten by Pacific Genesis Group Inc. Possibility that the bonds could be declared taxable if violations are found; Official statement for the unrated certificates of participation...
- Pacific Genesis Group Found Liable by Judge; SEC Pleased. Williams, Rochelle // Bond Buyer;02/16/2001, Vol. 335 Issue 31079, p3
Reports the judgement against Pacific Genesis Group's liability for misinterpretation and omission of bond offering in San Francisco, California. Effects of the court's decision to grant the Securities and Exchange Commission's application for the halting the sale of the bonds.
- After Disclosure Revisions, Pacific Genesis Quietly Selling Bonds. Hume, Lynn // Bond Buyer;05/17/2001, Vol. 336 Issue 31141, p4
Reports the sale of court-contested ninth offering of bonds for a residential golf community by Pacific Genesis Group Inc. in Washington, D.C. Revision of the disclosure documents for the offering; Ignorance of the Securities and Exchange Commission (SEC) on the bond sale; Lawsuit filed by SEC...