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Loan Modification

: Mortgage Lender Implode-o-Meter

Oman?s Blue City Teeters as Bondholders Try to Fix Financing

By Implode-Explode Heavy Industries

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"Owners of $661.5 million worth of Blue City bonds are discussing measures to push the project ahead, including trying to reduce the number of bondholders involved, a person familiar with the talks said. A vote on liquidating the project, proposed by holding company Al Sawadi Investment & Tourism LLC, has been put on hold, the person said."

Full post as published by Mortgage Lender Implode-o-Meter on May 25, 2010 (boomark / email).

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