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Stock impact report

WestRidge bankruptcy filing not reflective of TIF district's health [Yahoo! Finance]

Owens & Minor, Inc. (OMI) 
Last owens & minor, inc. earnings: 3/4 06:45 am Check Earnings Report
US:NYSE Investor Relations: owens.edu
Company Research Source: Yahoo! Finance
The commission approved an engagement letter with Steptoe & Johnson to that end during its most recent regular meeting. On Aug. 20 — the same day as a scheduled hearing on an emergency motion filed by creditors to place WestRidge Inc., WestRidge Land Holdings LLC and WestRidge Commons LLC in receivership — all three filed for Chapter 11 bankruptcy. A court-appointed receiver is a custodial third party that takes managerial control of a company's assets and operations. The filings suspended the court's consideration of that request. As for the commission, legal counsel is necessary as WestRidge is the developer behind the University Town Centre Economic Opportunity Development District — the largest TIF, or tax increment financing district in Monongalia County, and one of the most successful districts in the state. While developer WestRidge is responsible for repaying the construction bonds sold to finance infrastructure improvements within the district, the commission is the Show less Read more
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