Nashville Symphony Averts Foreclosure

Less than a week before its performance hall was to be auctioned, the Nashville Symphony managed to negotiate a deal with creditors to settle an outstanding $82.3-million debt leftover from its construction, says Reuters.

In a statement on Monday, the symphony said that under the bailout, “all of the symphony’s obligations to its commercial lenders have been resolved, and the banks’ recent foreclosure notice has been withdrawn.” The auction for the hall had been scheduled for June 28.

The debt stemmed from a $102-million bond issued for the construction of the Schermerhorn Symphony Center in 2006.