Thompson National Properties Acknowledges Cash Flow Problems, Proposes Restructuring

In a February 14, 2014 letter, Thompson National Properties (TNP) acknowledged that it “cannot support its current debt load” and proposed a plan to convert the investors’ notes in several TNP-sponsored programs into equity. The Thompson National Properties programs at issue are TNP 2008 Participating Notes, TNP 12% Notes and TNP PPP. The Peiffer Rosca securities… Read more »