Defaults Connected To Heritage

Albanese, Elizabeth
November 2001
Bond Buyer;11/16/2001, Vol. 338 Issue 31267, p1
Trade Publication
Reports on the on a lawsuit filed by Texas-based U.S. Trust Co. against Los Angeles-based Heritage Housing Development Inc. regarding defaults on bonds used by the company to finance nursing homes. Allegations on officers of Heritage regarding the default bonds; Problems with bonds issued by Texas-based Danforth Health Facilities Corp. on Behalf of Heritage; Impact of the lawsuit on $20.275 million of revenue bonds issued on behalf of Heritage.


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