Commerce

Long-time investors look to buy New York real estate cheaply

Larry Silverstein and The Denizen in Brooklyn above; and Scott Rechler with 555TEN at Hudson Yards top right. (Getty) One of the biggest investment-sell deals in New York City since the pandemic began occurred last month. It was then that Scott Rechler’s RXR Realty acquired a 42 percent stake in …

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New York State Passes Law to Extend Eviction and Seizure Measures for Commercial Property of Small Businesses | Morrison & Foerster LLP

On March 9, 2021, New York Governor Andrew Cuomo enacted New York State Law COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A / A3207) (the deed “). After a full year of commercial tenants and commercial mortgages relying on Governor Cuomo’s executive orders requiring moratoriums on evictions and …

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Gainey McKenna & Egleston Announce Class Action

NEW YORK, March 19, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces that a class action lawsuit has been filed against CytoDyn, Inc. (“CytoDyn” or the “Company”) (OTCQB: CYDY) in the United States Court District of the Western District of Washington on behalf of those who purchased or acquired …

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Yes, the bank plans to distribute the bad assets in a separate entity

Private lender Yes Bank SA is considering segregating its bad assets into a separate entity as it aims to reduce pressure on the balance sheet. The proposed organization will be “professionally managed where there are investors,” said Prashant Kumar, CEO and Managing Director. This is subject to regulatory approvals. The …

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Connaught investors accuse regulator of ‘lying’ about compensation

Investors in collapsed Connaught Income Fund accused UK financial regulator of ‘lying’ over £ 104million loss they suffered in an attempt to avoid paying them compensation additional. The Connaught Action Group, which represents around 2,000 investors in the fund that went bankrupt in 2012, said on Monday that the Financial …

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Bajaj Finance T2 Net profit drops 36% as provisions increase

Consumer financier Bajaj Finance Ltd. on Wednesday reported a drop in net income as the lender set aside a larger amount as provisions against stressed assets. Net profit fell to Rs 965 crore for the quarter ended September 30, down 36% from a year ago, according to a swap document. …

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Russian state television cancels broadcast of pro-Kremlin filmmaker’s “Conspiracy Extravaganza”

Russian state television has canceled reruns of a program by one of its most famous directors after criticizing the director of the country’s largest bank. On her May 1 show on Rossia-24, Nikita Mikhalkov, who has close ties to the Kremlin, criticized Sberbank chief executive German Gref for not having …

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Lloyds, lender of Virgin Active, loses debt burden | Economic news

Britain’s biggest lender is to pull out of a syndicate of lenders at Virgin Active, the struggling gym chain created by Sir Richard Branson’s business empire. Sky News has learned that Lloyds Banking Group plans to auction its Virgin Active debt in the coming days as part of a review …

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CFPB Releases Fact Sheet on TRID Title Insurance Disclosures and Updates TRID FAQs

On June 9, the Consumer Financial Protection Bureau (CFPB) released a fact sheet on how to disclose title insurance on loan valuation and closing disclosure, including when a negative disclosure of the costs of the loan. Owner’s title insurance is appropriate, and has updated the TRID FAQ to include full …

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City buys Brooklyn site linked to Underground Railroad

227 Duffield Street in Brooklyn (Google Maps) Blasio’s administration bought an abolitionist’s home in downtown Brooklyn that was recently given landmark status, ending a developer’s controversial plans for the site. Monday, Mayor Bill de BlasioChirlane McCray’s wife announced that the city had purchased 227 Duffield Street for $ 3.2 million. …

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