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"""Have any of you been in this situation before? How do things play out? Do I have to do anything or do I just wait for them to contact me?"""

If they do default and file bankruptcy, your broker will likely bow out of the picture, and the bankrupty court/appointed attorney/appointed court personnel will mail you some forms.
The first one will be just for you to say that you do own the bond(s) and your address is correct. Over time, you'll get more mailings. You'll probably get a chance to vote on the final plan.
Oh, you'll also get a chance to bow out of any class settlement, in case you want to hire your own lawyer. Since you're asking this question, I doubt very much that's an option you want to persue.

Most of these mailing will have a phone number to call. Don't be afraid to call with any questions. Your question(s) will likely be answered in language that the common person can understand.

If they are able to re-finance and pay you off, just ignore the above. The main point of my post is just to let you know your broker won't be doing anything for you if the tribe/corporation does file for bankruptcy.

Others on this board may have different experiences/opinions than mine.

Indian casinos in California.....I"ve seen some built out in the middle of nowwhere, and left me to thinking who is going to drive way the heck out here to gamble? Some fishermen/loggers/hunters maybe, but that's all...I thought those casinos would be immediate money losers.
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