Assisted Living Concepts cures default

New York, July 28 - Assisted Living Concepts, Inc. said it has received a notice from the trustee for its notes saying the previous default has been cured.

The earlier default notice applied to its 10% senior secured notes due 2009 and junior secured notes due 2012.

Trustee BNY Midwest Trust Co. sent a notice on June 25 saying the Dallas-based company had failed to comply with a covenant in the note indentures requiring it to deliver an annual opinion stating that all filings, recordings or other actions that are necessary to maintain the liens under the collateral documents have been done or that no such action is required.

Assisted Living Concepts said it has delivered the necessary opinion to the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.