One of the largest recent Indian Country casino defaults in this country. The situation remains legally unresolved, the casino is however still operating and presumably will restructure in the future.
The blog is managed by a private investor. For official sources of information:
- see FINRA site, current prices and trades, historical prices, charts, ratings, etc. The link is to their taxable bond. The casino also has a similar, issue-size, "municipal" (CA) issue listed here.
- contact MSato@mintz.com a lawyer with a law firm hired by the current trustee to handle the default to request to be placed on her mailing list. Her law firm is relatively communicative (they sometimes do their own investor call conferences) much more so than one
- Laura.Roberson@umb.com of UMB Bank, the current official Trustee. Her bank is your nominal trustee, that is the bank that is supposed to represent your i.e. investor interest in this defaulted bond, and
- last but not least the casino itself that issued these bonds and is legally "required" to repay them one of these day. Specifically their investor relations department. This is where they publish their quarterly reports and announce their investor calls conferences with access code and such. Registration required.
Please feel free to post your own observations, comments ideas, etc. The issue, the Indian casino defaulting on $150 million of debt is relatively obscure and in essentially uncharted legal territory so I don't expect much traffic here if any.
Anyway, the issue will most likely fester for years, so happy riding along.
No comments:
Post a Comment