the staff of the Ridgewood blog
East Rutherford NJ, American Dream, the Meadowlands mega-mall and entertainment complex, made a late $13.9 million deposit to bondholders this week, but a bank trustee said the East Rutherford business remains behind on its payments.
THE SMELL OF NAPALM IN THE MORNING https://theridgewoodblog.net/the-smell-of-napalm-in-the…/
The mall’s developers still owe interest on the bond payment they missed on June 1, leaving them in default, the U.S. Bank Trust Co. said in a notice to bondholders Thursday. The bank scheduled a meeting with bond owners today to discuss what steps to take next.
“Interest has not been paid and, therefore, the developer has not fully cured its default under the financial agreement,” the notice said.
Guess what people that place is not going anywhere. Especially in a few years we’re going to have the World Cup.