As PacGen Default Looms, High-Level Meeting Planned
- Pacific Genesis Appeals Ruling on Land-Based Financing. Hume, Lynne // Bond Buyer;03/27/2001, Vol. 335 Issue 31105, p4
Reports that Alameda, California-based Pacific Genesis Group Inc. has appealed a federal court ruling that forced the company to unwind the ninth land-based bond offering that it had sold to finance the development of a residential golf course community. Company's plan to revise the disclosure...
- 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.
- PacGen Linked to Technical Default of Calif.'s Roddy Ranch. Williams, Rochelle // Bond Buyer;7/10/2001, Vol. 337 Issue 31177, p36
Reports the technical default involving Pacific Genesis Group Inc. and its consulting firm U2Ivever in Contra Costa Country, California. Reasons behind the technical default; Intention of J.P. Morgan, trustee on the first three offerings to find ways to restructure the payment; Impact of the...
- 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.
- 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.