Wed 11/09/2022 17:07 PM
American Dream Mall PILOT bond trustee U.S. Bank, with the consent of a majority of PILOT bondholders, has amended the PILOT bond trust indenture to establish a special litigation fund and clarify that late payments by the developer will replenish reserves instead of paying down principal, according to a notice posted to EMMA on Tuesday, Nov. 8. The amendment is dated Oct. 31, the notice says.
The amendment changes the provisions of the “reserve account” that, under...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2023 Reorg Research, Inc. All rights reserved.