Brookfield Asset Management Inc. is reportedly considering dropping $1.1 billion into Brazilian investments, including real estate, China Vanke is said to be negotiating a $125 million Manhattan office stake deal and Bennett Hospitality is reportedly prepping to break ground on a $101 million South Carolina hotel after a decade of litigation over the project.
A former Gramercy Asset Management LLC client, who has accused the firm of fraud in connection with a tax shelter it promoted, asked a New York federal judge on Friday to toss the investment firm’s countersuit against him, saying it can’t seek indemnity from “the very parties it defrauded.”
Hedge funds and banks financing the bankruptcy of Endeavour Operating Corp. urged a court on Friday not to let unsecured creditors extinguish $440 million in obligations, saying the unsecured creditors don't have standing to sue over a prebankruptcy refinancing that could dramatically decrease their recoveries.
A California judge on Monday tentatively rejected Sheppard Mullin Richter & Hampton LLP’s bid to strike allegations that it prevented four real estate investment trustees from collecting on a Sheppard Mullin client’s $8.5 million trial loss by fraudulently concealing the law firm’s own lien against that client’s assets.
A Dallas judge on Friday issued a temporary restraining order barring a former regional sales director for an affiliate of Highland Capital Management LP from using confidential client information the hedge fund’s underwriter claims she misappropriated.
International Market Centers Inc., which operates showroom space for the home decor and gift industries, set terms for its initial public offering Monday, saying it would offer 11.5 million shares at a range of $12 to $14 apiece as it looks to refinance debt.
A Delaware court ordered Citigroup Inc. on Friday to give an institutional investor internal records relating to loan fraud at its Mexico-based Banamex unit and ordered an investigation of possible money laundering issues at its Banamex USA.
A former controller of a J.P. Morgan-traded hedge fund has been sentenced to four years in prison and ordered to pay full restitution by a Connecticut federal court for embezzling more than $9 million over nine years, the U.S. Department of Justice announced on Monday.
Baker & McKenzie International member firm Wong & Partners said Monday that it advised two investment banks underwriting a 3.2 billion Malaysian ringgit ($902 million) syndicated loan to support commercial development in Kuala Lumpur City Centre, seen as key to stimulating Malaysia’s economy.
Manatt Phelps & Phillips LLP has snagged three corporate partners from Squire Patton Boggs LLP, including the son of the late Patton Boggs LLP founder Thomas Hale Boggs Jr., as Manatt continues its East Coast expansion.
A former equities trader for Cushing MLP Asset Management LP was sentenced Friday to 30 months in federal prison and forced to pay back more than $3.5 million in profits after pleading guilty to securities fraud, stemming from an alleged three-year front-running scheme under which he traded on insider information using his wife’s brokerage account, according to acting U.S. Attorney John Parker of the Northern District of Texas.
The Internal Revenue Service acknowledged in guidance Thursday the futility of crafting a bright-line asset ratio test to crack down on hedge funds using foreign reinsurance companies to achieve preferential tax rates, and experts say the agency may need an assist from Congress if it wishes to effectively curtail the arrangement.
Former Foundry Networks Inc. executive David Riley was sentenced on Monday to 6 1/2 years in prison for passing inside tips about the computer equipment company to a hedge fund analyst, but vowed to appeal in light of the Second Circuit’s decision in U.S. v. Newman.
Ropes & Gray LLP has hired two mutual fund specialists for its Chicago office from K&L Gates LLP, including the former head of that firm's investment-management practice.
Private equity owners of INC Research Holdings Inc. plan to trim their stakes in the clinical development services provider through a secondary offering that could net about $237.3 million, a move the company said Monday it plans to follow by repurchasing up to $150 million in shares.
The Financial Industry Regulatory Authority has proposed raising disclosure requirements on broker-dealers that sell securities to U.S. military personnel or their dependents, in an attempt to bring the regulator’s requirements in line with a federal law aimed at protecting U.S. Armed Forces members from unscrupulous financial services.
Harvey R. Miller, a pioneering bankruptcy lawyer who wielded vast influence over the evolution of modern U.S. restructuring law during nearly half a century at Weil Gotshal & Manges LLP, has died, his firm announced Monday. He was 82.
The U.K. arm of UBS Global Asset Management has picked up a recently constructed London office and retail property in a £222.4 ($338 million) deal with a joint venture of Aberdeen Asset Management PLC and Great Portland Estates PLC, the sellers announced on Monday.
The trustee managing the wind-down of Bernard L. Madoff Investment Securities LLC reached a settlement Friday totaling $11.1 million with three groups of defendants alleged to have received more than $58 million in fictitious profits from the Ponzi brokerage.
New Jersey Gov. Chris Christie’s administration on Friday told the state Supreme Court that the judiciary branch would become entangled in the annual budget process if it lets stand a lower court ruling that he unlawfully trimmed $1.57 billion in pension funding.