Bond Trustee Holds Back Feb. Payment

Shields, Yvette
February 2003
Bond Buyer;2/5/2003, Vol. 343 Issue 31567, p1
Trade Publication
Reports that UMB Bank, a trustee for state moral obligation bonds sold by the South western Illinois Development Authority on behalf of Madison, Illinois-based Spectrulite Consortium Inc. has withheld a debt service payment for February 2003 due to company's bankruptcy filing. Reasons provided by the company on its filing for bankruptcy; Efforts of state officials for release of the reserve.


Related Articles

  • Germany: Closer to Chapter 11.  // Private Placement Letter;7/19/2004, Vol. 22 Issue 29, p6 

    Discusses changes in debt restructuring and insolvency management in Germany since the Insolvency Code replaced the liquidation-oriented 1877 Bankruptcy Code. Law providing for self-management of the insolvent business under the supervision of a court-appointed trustee; Duties of the director;...

  • South Carolina Connector Toll Road Draws on Reserves for Debt Service. DeSue, Tedra // Bond Buyer;7/13/2004, Vol. 349 Issue 31924, p3 

    Reports on the re-enforcement of the debt service reserve fund for the multimillion-dollar revenue bonds sold by the Connector 2000 Association Inc. in 1998 to build a toll road in Greenville, South Carolina. Sources of funds for the payment; Rate given by Standard & Poor's to the uninsured...

  • Lamar's $281M Question. Albanese, Elizabeth // Bond Buyer;9/12/2006, Vol. 357 Issue 32464, p31 

    The article focuses on the $281 million general obligation bond which was voted by Lamar Consolidated Independent School District's trustees in Texas. The question concerns on the final bond package which is considered to be a pare version of a previous proposal. The package includes financing...

  • Trustee for Bankrupt National Benevolent Association to Pay Bondholders. Shields, Yvette // Bond Buyer;8/31/2004, Vol. 349 Issue 31959, p5 

    Announces that in September 2004, the trustee for 150 million dollars worth of bonds sold on behalf of the bankrupt National Benevolent Association will distribute 2.2 million dollars of interest payments that were owed to bondholders from seven issues that had payments due between March and May...

  • Why it's vital to place a life insurance policy in trust for people in debt. Carmichael, Stuart // Mortgage Strategy (Online Edition);9/12/2013, p1 

    The article focuses on importance of tranferring life insurance policies to trusts during insolvency practices. The article mentions that incase the person, who is undergoing a debt clearance process, dies the insurance policy money is paid to the insolvency practitioner as an asset. The article...

  • ARKANSAS: Pine Bluff SD Shrinks Gap. Watts, Jim // Bond Buyer;6/26/2007, Vol. 360 Issue 32658, p9 

    The article reports that Pine Bluff School District No. 3 trustees in Arkansas have learned that they will face a deficit of up to $1 million in 2007, which is lower that projected. In February 2006, voters approved a $29.4 million bond issue for a plan to reduce the district's campuses from 15...

  • IRS Allows Issuer to Pay Debt Service With Trust Income. Barnett, Susanna Duff // Bond Buyer;7/13/2004, Vol. 349 Issue 31924, p5 

    Focuses on the decision of the U.S. Internal Revenue Service (IRS) to allow issuers of tax exempt bonds to pay debt service with trust income. Reference to the IRS decision on the Arizona School Facilities Board case; Effect of the ruling on the tax-exempt bond community; Details of the...

  • Colorado City, Investors at Odds Over Defaulted Golf Course. Albanese, Elizabeth // Bond Buyer;8/4/2004, Vol. 349 Issue 31940, p4 

    Reports on a final work-out proposal awaited by officials with the Colorado city of Fort Lupton from U.S. Bank, the trustee representing investors who hold defaulted revenue warrants issued to finance a city-owned golf course. Report that a warrant-holder committee was formed to assist the...

  • MOODY'S DOWNGRADES SIX CLASSES OF LB-UBS.  // Mortgage Banking;Jun2004, Vol. 64 Issue 9, p120 

    Reports that New York-based Moody's Investors Service has affirmed the ratings of commercial mortgage trusts in the United States. Decrease of the aggregate balance including the distribution date; Evaluation of the operating resultsfor performing loans in the pool; Losses of the specially...


Read the Article


Sign out of this library

Other Topics