Ruling Could Prove Lethal For PacGen
- Indian tribe's default brings Pacific Genesis' problems to Washington state. Molis, Jim // Bond Buyer;10/03/97, Vol. 322 Issue 30244, p29
Discloses that the Shoalwater Bay Indian Tribe has defaulted on a $3.85 million of tax-exempt notes it sold in 1995 to acquire 164 hundred acres of oceanfront land on Ocean Shores, Washington, a deal underwritten by Pacific Genesis Group Inc. (PGG). State Treasurer Matt Fong's concerns on PGG's...
- Calif. county tests new roving JPA. Marois, Michael B. // Bond Buyer;04/21/99, Vol. 328 Issue 30624, p1
Informs that the Stanislaus County, California, district attorney has requested state Attorney General Bill Lockyer to issue an opinion about the legality of the roving joint-power authorities (JPA) being structured by Pacific Genesis Group. Membership of a mutual water company in the JPA;...
- 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...
- Troubled Pacific Genesis Forced Out of Two More States. // Bond Buyer;8/7/2001, Vol. 337 Issue 31197, p4
Reports the withdrawal of the application of Pacific Genesis Group Inc. for a broker-dealer license in California. Reasons for the withdrawal; Cancellation of the firm's broker-dealer license by the California Department of Corporations; History of the problems of the firm.
- 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);...
- Pacific Genesis to Promote Berne. Orloff, David // Orange County Business Journal;03/27/2000, Vol. 23 Issue 13, p21
States that Laguna Hills, California-based investment banker Pacific Genesis was selected by the Berne Economic Development Agency in Switzerland to be its West Coast representative.
- Pacific Genesis, issuer are seeking alternate financing for defaulted note. Marois, Michael B. // Bond Buyer;01/22/98, Vol. 323 Issue 30315, p3
Reports that U.S. Trust of California, trustee for a $6.2 million defaulted bond anticipation note underwritten by Pacific Genesis Group, has given the firm and issuer Malibu Canyon Public Finance Authority additional time for alternate financing. Pacific Genesis' financing plan; Appointment of...
- 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.
- Pacific Genesis Brief Argues SEC Fraud Suit Has No Merit. Hume, Lynn // Bond Buyer;01/25/2001, Vol. 335 Issue 31064, p1
Reports on Pacific Genesis Corp.'s filing of a brief with the United States District Court in San Francisco, California, to contest the securities fraud charges filed against it by the U.S. Securities and Exchange Commission. Pacific Genesis' argument that it gave full disclosure on the...