Senior Housing Bond Owner Wins Bankruptcy Loan Competition

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Regional Housing & Community Services Corp. accepted $ 600,000 short-term funding from a bondholder who turned down an external lender’s $ 5 million offer.

Last week in Hickory, North Carolina, Regional Housing entered Section 11 with a $ 5 million bankruptcy loan proposal from Saybrook Fund Advisors, a distressed municipal debt specialist who was also interested in acquiring the business.

But…

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