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Hancock Tower Owner Considers Bankruptcy

The owner of Boston's iconic John Hancock tower may file for bankruptcy to avoid foreclosure.

The building is set for auction at the end of this month because its owner, Broadway Partners of New York, defaulted on some debt payments.

The Boston Herald reports that Broadway is "seriously talking about" bankruptcy as a way to force its debt-holders to renegotiate.

This program aired on March 11, 2009. The audio for this program is not available.

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