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Hospitality

  • February 27, 2012

    Deal For $387M Arena Will Keep Kings In Sacramento

    The Sacramento Kings have reached a tentative deal for a new $387 million arena and have agreed to stay in their namesake city after months of negotiations and a push to move the NBA team south to Anaheim, Calif., a spokesman for Sacramento Mayor Kevin Johnson confirmed Monday.

  • February 27, 2012

    Defense Expert Says AAR Got Fair Prices In BCI Deals

    An aircraft appraisal expert testified Monday in Illinois federal court that AAR Corp. bagged fair prices in two multimillion-dollar deals with BCI Aircraft Leasing Inc., transactions the government alleges were tainted by bribes paid by a BCI executive now charged with defrauding investors.

  • February 27, 2012

    Dodgers Narrow Down Bidders For MLB Screening

    Los Angeles Dodgers LLC has determined which bidders in its Chapter 11 bankruptcy sale will move forward for approval by Major League Baseball, setting the stage for an estimated $800 million auction of the team by April, the Dodgers announced Monday.

  • February 24, 2012

    Ritz-Carlton Developer Sued Over Deceptive Condo Sales

    The developers behind the upscale Ritz-Carlton Residences at L.A. Live were hit with a putative class action in California state court Wednesday by a disgruntled resident accusing them of misrepresenting the sizes of the units and forcing buyers into illegal one-sided purchase agreements.

  • February 24, 2012

    Firms Expand In Calif. As They Forecast Real Estate Growth

    Several major law firms have bulked up their real estate groups in and around Los Angeles in recent months with plans to expand even more over the next year, as they prepare for an expected rebound in commercial development.

  • February 24, 2012

    Trading Card Makers Spar Over NBA Star Durant's Autograph

    Sports trading card maker Panini America Inc. on Thursday hit rival Leaf Trading Cards LLC with a suit accusing it and its president Brian Gray of using Kevin Durant’s autograph in signature stickers that allegedly violate Panini’s exclusive license agreement with the NBA star.

  • February 24, 2012

    Torre Benches Dodgers Bid As McCourt Clings To Parking

    Former Los Angeles Dodgers manager Joe Torre and a real estate developer have backed out of bidding for the team, citing current owner Frank McCourt’s refusal to include parking lot assets in a bankruptcy sale, according to a letter published Thursday.

  • February 24, 2012

    McDonald’s Cites Dukes In Bid To Nix Racial Bias Action

    McDonald’s Corp. sought Thursday to nix a proposed racial discrimination class action brought by three corporate employees in Illinois, arguing the workers have failed to demonstrate a common claim of discrimination as required under the U.S. Supreme Court’s recent Dukes decision.

  • February 24, 2012

    Wynn Boots Ex-Friend From Casino Board Over Alleged Bribes

    Billionaire Steve Wynn booted his former friend and business partner Kazuo Okada from the board of his Macau casino company on Friday over allegations the Japanese tycoon bribed gambling regulators in the Philippines and elsewhere.

  • February 23, 2012

    Mets Owners Push To Kill $386M Madoff Clawback Suit

    The owners of the New York Mets argued Thursday that the $386 million case brought against them by Bernard L. Madoff's bankruptcy trustee can be tossed without trial, saying there is no evidence the men knew about Madoff's fraud.

  • February 23, 2012

    Starbucks Tells 2nd Circ. Assistant Managers Don't Merit Tips

    Starbucks Corp. urged the Second Circuit on Wednesday not to revive a putative class action brought by assistant managers who claim the chain denies them their portion of pooled tips, maintaining that New York state law does not entitle them to a share.

  • February 23, 2012

    Wells Fargo Sues Babcock & Brown Over $198M Loan Default

    Wells Fargo Bank NA sued defunct investment firm Babcock & Brown LP and related funds Thursday, saying a $198 million mortgage loan backed by 17 apartment complexes went into default after the companies failed to make a payment on Feb. 10.

  • February 23, 2012

    Bankrupt MSR Wins More Time As Hilton Battle Drags On

    Bankrupt resort operator MSR Resort Golf Course LLC won more time Thursday to exclusively file a restructuring plan while it continues to battle a Hilton Worldwide Inc. unit over a property management deal.

  • February 23, 2012

    Michael Jordan Sues Chinese Sportswear Co. Over Name Use

    Basketball icon Michael Jordan has sued Chinese sportswear and footwear manufacturer Qiaodan Sports Co. Ltd. over the unauthorized use of his name and identity, he said Thursday.

  • February 23, 2012

    Enviros Sue US To Force Action On Agent Orange Element Ban

    The Natural Resources Defense Council sued the U.S. Environmental Protection Agency in the D.C. Circuit on Thursday, seeking to force action on a 2008 request to ban Agent Orange ingredient 2,4-D, a widely used pesticide linked to cancer and other health problems.

  • February 23, 2012

    Q&A With Cozen O'Connor's Suzanne Mayes

    In connection with a securities offering, it is important to produce disclosure documents that highlight material issues affecting the issuers on topics that perhaps have not previously been discussed. Educating issuers on the value and purpose of disclosure has assisted in improving it, says Suzanne Mayes, co-chairwoman of Cozen O'Connor's public and project finance practice group.

  • February 22, 2012

    Wynn's Largest Stockholder Vows Suit Over Cash-Out

    Wynn Resorts Ltd.'s top shareholder, who has already sued the casino operator to examine records over his investments, vowed more litigation Tuesday over Steve Wynn's recent move to unilaterally cash out his shares over allegations that he violated anti-corruption laws.

  • February 22, 2012

    Citi, Levant Bag $100M Stake In Saudi Supermarket Chain

    Investment funds advised by Citigroup Inc.'s venture capital arm and Dubai-based Levant Capital Ltd. have closed a $100 million deal to jointly acquire a controlling stake in one of Saudi Arabia's biggest supermarket chains, the companies said Wednesday.

  • February 22, 2012

    SAG, Sports Unions Dispute EA’s Likeness Win In 3rd Circ.

    The Screen Actors Guild and the players’ associations of the major professional sports leagues on Friday asked the Third Circuit to reverse a ruling that the First Amendment protects Electronic Arts Inc. in a proposed class action over EA’s use of college athletes’ likenesses in video games.

  • February 22, 2012

    Chubb Doesn't Owe Starwood $10M In Defense Costs: Atty

    An attorney for a Chubb Corp. affiliate told a New York state appeals court Wednesday that the insurer shouldn't have to pay Starwood Hotels & Resorts Worldwide Inc.'s defense costs for a lawsuit stemming from construction cost overruns at a Florida hotel.