January 14, 2003 Another 326 Kmart stores will be closed, and the company has received a commitment for up to $2 billion in exit financing as it prepares to emerge from bankruptcy on April 30, the troubled retailer said today.Kmart ...
December 6, 2002 Jones Lang LaSalle considers a complaint filed by former client Bank One to be "wholly without merit."Jones Lang plans to "aggressively defend its position and pursue its own action against the bank," the Chicago-based real estate firm ...
November 15, 2002 The U.S. House of Representatives has passed a reconciled terrorism insurance bill, which would guarantee government backing for insurance companies in the aftermath of another catastrophic terrorist attack.The bill will be signed by President Bush soon after ...
November 14, 2002 Commercial Real Estate Direct Staff ReportIt appears that the U.S. House of Representatives is planning to remain in session well into the evening today in order to pass several bills before adjourning the current lame-duck Congressional session.Those ...
November 13, 2002Commercial Real Estate Direct Staff ReportCongress has not yet acted on a compromise bill to provide a backstop for providers of terrorism insurance, but there's still hope that legislation could be passed before Congress adjourns until January.The Bush ...
October 28, 2002 Corrections Corporation of America (NYSE:CXW) will pay about $54 million to satisfy federal and state taxes and interest as part of a settlement agreement with the Internal Revenue Service.The IRS audited of the 1997 federal income tax ...
September 25, 2002 A federal judge in New York has ruled that the terrorist attacks on the World Trade Center were "one occurrence," according to a report in Dow Jones Newswires.The ruling would be a blow to developer Larry Silverstein ...
Orix has filed suit in Dallas charging UBS PaineWebber and UBS Warburg Real Estate Securities with purposely placing troubled loans into two 1999 conduit transactions. It wants the investment bank to pay more than $600 million in damages.
August 30, 2002 LOS ANGELES – The successor to eToys Inc., a former tenant of Kilroy Realty Corp. (NYSE:KRC) has filed suit against the REIT seeking return of the proceeds from two letters of credit that Kilroy previously drew down.Kilroy ...
May 29, 2002Morgan Stanley Real Estate Funds faces a penalty of 6 billion yen ($48 million) for taxes owed on profits it generated from its investments in Japan.According to Agence France Presse, which cited Japanese newspaper Yomiuri Shimbun, the Japanese ...
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