Resources for Distressed Muni/Tax Exempt Restructuring
Does anyone have resources on bankruptcy, restructuring and workouts for tax exempt debt. My MD has done some previously and my group is interested in this potentially. I was wondering if anyone could point me towards any resources, particularly for the revenue bond side of things. I'm mainly interested in it as it relates to workouts with a project finance component.
Well it depends on what you are looking for if there are equity sponsors or if it is all debt and then there are a multitude of solutions for getting out of bankruptcy which is an issuer by issuer situation such as debt restructuring or super bonds
Both I'm thinking mostly healthcare and some Ed. In particular CCRCs, rural access hospitals and 142D/LIHTC senior housing, with maybe some charter schools in the mix.
Bump
I've spoken to some of my muni friends in the past, and here is what they say about RX in Muni-land:
1.) Not a lot of precedence in muni's because of the limited occurrences of muni defaults.
2.) With such little precedence in place, its really a crapshoot how each state would handle said RX.
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