Tag Archives: Bankruptcy Court

SEC Sues California Man Alleging Real Estate Fund Fraud

California businessman Walter Ng, his business partner and his son were sued today by the U.S. Securities and Exchange Commission over a multimillion-dollar fraud on investors in their real estate funds. Ng and his partner raised more than $85 million … Continue reading

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California May See More Bankruptcies, Chiang Says

California may see more municipal bankruptcies than the three that have been filed since June, state Controller John Chiang said. Municipal budgets already strained by surging pension costs and declining real-estate tax revenue were stripped of more than $1 billion … Continue reading

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California cities face credit downgrades

CREDIT RATINGS Hard-hit cities face downgrades Cities in California, where three have declared bankruptcy in the past seven weeks, may get credit-rating downgrades from Moody’s Investors Service. The situation is worsened by the state’s boom-bust real-estate economy and “hands-off” policy … Continue reading

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Letters: California’s bankrupt cities — who’s to blame?

Re “A tale of two cities,” Opinion, July 25 Harold Meyerson blames banks and big business for the collapse of our economy, especially for the bankruptcies of California cities hit hard by the bursting of the housing bubble. Rather, the … Continue reading

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California Tribe’s Casino Files for Bankruptcy

BY KATY STECH Southern California’s Santa Ysabel Resort and Casino filed for bankruptcy protection as it faces threats of foreclosure from the Yavapai Apache Nation, which had lent the casino’s owners more than $9 million. The casino—which is owned by … Continue reading

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Bankrupt Agent’s $87 Million Estate Goes on Auction Block

A bankrupt real estate agent’s hilltop mansion, conceived during Southern California’s property boom and once given an estimated value of $87 million, is going up for auction after failing to sell for two years. The unfinished Italianate villa on 12.5 … Continue reading

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Grubb & Ellis Agrees to Sell Itself to BGC Partners in New York Bankruptcy

Grubb Ellis Co. (GRBE), a U.S. real estate services company, agreed to sell almost all its assets to BGC Partners Inc. (BGCP) and filed for bankruptcy protection. Grubb Ellis listed assets of as much as $500 million and liabilities of … Continue reading

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GA Keen Realty Advisors to Market, Sell Prime Midtown Manhattan Redevelopment …

WOODLAND HILLS, CA, Nov 28, 2011 (MARKETWIRE via COMTEX) – GA Keen Realty Advisors, a division of Great American Group, LLC , a leading provider of asset disposition, valuation, real estate and appraisal services, has been retained to assist in … Continue reading

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Lehman Italian Real Estate May Reap $160 Million Gain

October 17, 2011, 1:12 PM EDT More From Businessweek U.S. District Judge May Review 30 Madoff Trustee Suits Lehman Italian Real Estate May Reap Gain, Creditors Say Hacker Threats, Solvency II, Philippine Bonds: Compliance Alabama Immigration, Harrisburg, Kodak, United in … Continue reading

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Crystal Cathedral files bankruptcy-exit plan

GARDEN GROVE, Calif. — The Southern California megachurch founded by one of the nation’s pioneering televangelists, the Rev. Robert Schuller, filed a bankruptcy plan Friday that would pull the Crystal Cathedral out of crushing debt by selling its sprawling campus … Continue reading

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