But:....
American Realty ....
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.........Announces Margin Calls
DALLAS, June 19, 2000 (PRIMEZONE) -- American Realty Trust, Inc. (NYSE:ARB - news) announced Monday that on Friday, June 16, 2000, the company received margin calls from numerous margin lenders with respect to its existing margin debt in the total amount of approximately $35 million, which is secured by ART's equity investments in its affiliates, Income Opportunity Realty Investors, Inc. (AMEX:IOT - news), Transcontinental Realty Investors, Inc. (NYSE:TCI - news), and National Realty, L.P. (AMEX:NLP - news).
American Realty Trust currently is not in a position to satisfy such debt and, as a result, the company may default in its obligations under the related margin agreements. ART intends to negotiate with its margin lenders regarding the terms of repayment of this debt. There can be no assurance that the company will be successful in its efforts to negotiate satisfactory terms for the repayment of this debt.
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and Basic Capital....
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....Management Receives Margin Calls
DALLAS, June 19, 2000 (PRIMEZONE) -- Basic Capital Management, Inc announced Monday that on Friday, June 16, 2000, the company received margin calls from numerous margin lenders with respect to its existing margin debt in the total amount of approximately $37 million, which is secured by BCM's equity investments in its affiliates, American Realty Trust, Inc. (NYSE:ARB - news) Income Opportunity Realty Investors, Inc. (AMEX:IOT - news), Transcontinental Realty Investors, Inc. (NYSE:TCI - news), and National Realty, L.P. (AMEX:NLP - news).
Basic Capital Management currently is not in a position to satisfy such debt and, as a result, the company may default in its obligations under the related margin agreements. BCM intends to negotiate with its margin lenders regarding the terms of repayment of this debt. There can be no assurance that the company will be successful in its efforts to negotiate satisfactory terms for the repayment of this debt.
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How come...? Not as independent as previously pretended... |
