The note securing the property was assigned to Bank of New York in September 2002, two months after it had begun foreclosure proceedings against Ms. Palmer.
In the past, lenders knew their borrowers and vice versa; today the holder of the note securing the property is a faceless investor represented by a trustee, like the Bank of New York.
The settlement left Fincher with a $1.3 million promissory note secured by the Houston property.
The price was $8 million, $1 million down, the rest a note secured by the assets–a kind of LBO before people had a name for it.
The price was $8 million, $1 million down, the rest a note secured by the assets-an LBO before people had a name for it.
In December, New York Law School refinanced its debt, converting its securities into variable-rate notes secured by a letter of credit, Mr. Matasar said.
Senior notes with a 9.5percentt coupon that had traded below 20 cents on the dollar this summer topped 50 cents yesterday, and senior notes secured by Loral's international satellites rose 10 points into the high 80's, Mr. Volshteyn said.
His first publication, Some Specimens of the Poetry of the Antient Welsh Bards (1764), which contains English translations with historical notes, secured his reputation as a scholar and critic.
He noted Secure Communities has a mandate to target immigrants who pose a threat to public safety, but most of those detained in other areas with the program have been non-violent offenders or people who simply lack legal status.
