secwatch.observer — SEC 8-K summary
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Issuer:     INTERGROUP CORP (INTG)
CIK:        0000069422
Form:       8-K
Filed at:   2025-01-10T23:59:59+00:00
Accession:  0001493152-25-001534
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

InterGroup subsidiary receives notice of termination event on $97M loans after missing Jan 1 payment
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- Notice received Jan 3, 2025 for two loans (M300801016 and M300801015) totaling $97M principal.
- Forbearance granted April 29, 2024 terminated due to non-payment by Jan 1, 2025 expiration.
- Lenders can now accelerate loans and pursue foreclosure; outstanding senior $78.6M, mezzanine $27.5M as of filing.
- Borrower Justice entered agreement with Hart Advisors in Oct 2024 to negotiate loan modification; no assurance of resolution.
- Refinancing challenged due to obstacles beyond control; company will endeavor to refinance or seek alternatives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/69422/000149315225001534/0001493152-25-001534-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/69422/000149315225001534/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-001534

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