AP: Beazer Homes Receives Notice of Default on Senior Notes

Admittedly, I haven't worked on a $1.38 billion commercial foreclosure case.  (I suspect not many Indiana lawyers have.)  Click here for the AP story.  I hope someday to be involved in some capacity with a case so large and complex.  One of the interesting things about the Beazer matter is that, apparently, the default may not relate to non-payment, which triggers foreclosure in the vast majority of cases.  The Beazer story illustrates that there can be a multitude of circumstances that give lenders the right to accelerate and foreclose on loan collateral.