Maguire Properties Inc., one of the largest owners of office buildings in Southern California, said two subsidiaries defaulted on mortgage payments but the company is not considering bankruptcy. Maguire shares fell on news of the subsidiaries’ default but turned higher after Rising’s call. The shares were up 12 cents at $1.01 near midday after falling as low as 71 cents in morning trade.Earlier, Maguire said in a regulatory filing that the two subsidiaries failed to make debt service payments on mortgage loans associated with properties in Orange County and Los Angeles. It said its board had approved the disposal of several properties to shore up its cash position.

Tags:  maguire not considering bus