Meruelo Maddox issues warning

Meruelo Maddux Properties said Wednesday it had stopped making payments on 26 real estate loans totaling $266 million, and that independent auditors were likely to issue a "going concern" opinion questioning the company's ability to remain in business. Los Angeles Business Journal.

The largest landowner in downtown Los Angeles, which made the statements in its fourth quarter earnings announcement, also said it was seeking to renegotiate its debt but that effort might not be successful.