Big Mike, am I reading this correctly?

Wells Fargo did not receive this notice. This notice is about Wells Fargo's inability/refusal to pay the maturity presentment of CA Community Dev Authority.

Basically, something reached maturity and Wells can't or won't pay. Right?

From the freedictionary:

In relation to Commercial Paper ,presentment is a demand for the payment or acceptance of a negotiable instrument, such as a check. The holder of a negotiable instrument generally makes a presentment to the maker, acceptor, drawer, or drawee.

Thanks. 😊

Big Mike, I'm I reading this correctly?

Wells Fargo did not receive this notice. This notice is about Wells Fargo's inability/refusal to pay the maturity presentment of CA Community Dev Authority.

Basically, something reached maturity and Wells can't or won't pay. Right?

From the freedictionary:

In relation to Commercial Paper ,presentment is a demand for the payment or acceptance of a negotiable instrument, such as a check. The holder of a negotiable instrument generally makes a presentment to the maker, acceptor, drawer, or drawee.

Thanks. 😊