Mercy bondholder, trustee seek proceeds from sale of assets

Mercy Iowa City bondholder, Preston Community Capital, is seeking court approval to distribute sale proceeds from Mercy’s assets to master trustee, Computershare Trust Company, in the amount of $26.8 million, “either at closing or as soon as practicable following closing of the sale,” according to court documents.

The $26.8 million is just a fraction of what Mercy owes Preston Hollow and Computershare Trust. In August, the companies…