secwatch.observer — SEC 8-K summary
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Issuer:     INTERGROUP CORP (INTG)
CIK:        0000069422
Form:       8-K
Filed at:   2024-01-10T23:59:59+00:00
Accession:  0001493152-24-001934
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Subsidiary Justice Operating receives default notice on $97M loans; acceleration and foreclosure possible
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- Default notice received Jan 4, 2024 for $97M principal loans to Justice Operating Company, LLC (wholly owned subsidiary of Portsmouth Square, Inc.).
- Lenders may accelerate loans, foreclose on collateral, and pursue other remedies under loan documents.
- Company engaged Hart Advisors Group to negotiate loan modifications; no assurance of favorable resolution.
- Loans had maturity date Jan 1, 2024; negotiations under review by senior lender's special servicer LNR Partners.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/69422/000149315224001934/0001493152-24-001934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/69422/000149315224001934/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-001934

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