TITLE

Developers victimized by commercial real estate slump

AUTHOR(S)
Edwards, John G.
PUB. DATE
March 2010
SOURCE
Las Vegas Business Press (10712186);3/8/2010, Vol. 27 Issue 10, pP4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the difficulties faced by real estate developers in Las Vegas, Nevada as banks and lenders demand developers to make good on personal guarantees. It quotes several bankruptcy attorneys like Lenard Schwartzer, Brian Shapiro and Tisha Black-Chernine. The article also notes that community banks have larger proportionate exposure than big banks.
ACCESSION #
48797967

 

Related Articles

  • Protection may be compromised. Kelly, Joanne // Estates Gazette;10/3/2009, Issue 939, p105 

    The article explains why parent company guarantees (PCG) and performance bonds are often rendered useless in the construction and property industry. A real estate developer is protected by PCG and performance bonds against a building contractor's default, primarily its insolvency. The article...

  • MONEY Too Good to Be True? YADAV, RENU // Business Today;5/11/2014, Vol. 23 Issue 9, p94 

    The article discusses the risks associated with lucrative buyback schemes offered by developers and the suggestions to the buyers. Topics including developers assure buyers that they will repurchase the property at a 30 to 35 per cent higher price, within a stipulated time, no guarantee that the...

  • Law. Baker, Charlotte; Taylor, Anna // EG: Estates Gazette;5/23/2015, Issue 839, p15 

    The article discusses the corporate vehicles, a company limited by shares or a company limited by guarantee, taken by residential management companies which have separate legal identities. Topics covered include the similarities of the structures such as being liable for their own debts and...

  • Hard times are ahead. Lal, Hamish // Estates Gazette;1/10/2009, Issue 920, p68 

    This article explains that the theme running through construction law in 2008 and which is likely to drive case law in 2009 is the continuing financial fallout of the economic downturn. It identifies some of the topics that are likely to dominate the real estate scene in 2009 in Great Britain....

  • Firms seek Nakheel payment pledge. Foreman, Colin // MEED: Middle East Economic Digest;10/29/2010, Vol. 54 Issue 44, p9 

    The article reports on the payment guarantees demanded by contractors in Dubai, United Arab Emirates for new projects from debt-laden Nakheel, a real estate developer owned by the government. It notes that the firms are cautious about working for the developer again after it put projects on hold...

  • Builder targets entire block. Whitson, Jennifer // Indianapolis Business Journal;6/26/2006, Vol. 27 Issue 16, p1A 

    The article reports on the plan of Centex Corp. to purchase an entire downtown block for retail and residential development project in Indianapolis, Indiana. However, businessman Brian Shapiro revealed that he has not reached a final agreement with Centex to sell his property. Centex is well...

  • Developments in the value of implicit guarantees for bank debt: The role of resolution regimes and practices. Schich, Sebastian; Byoung-Hwan Kim // OECD Journal: Financial Market Trends;2012, Vol. 2012 Issue 2, p35 

    High values of implicit guarantees for bank debt can be taken as signalling the market's expectation that public authorities will rescue the institution in question in times of severe financial distress. By the same token, declines in the measure would suggest a drop in the perceived likelihood...

  • Succumb to Merlin's spell. Gosney, Max // Works Management;Nov2011, Vol. 64 Issue 11, p5 

    The article discusses the finance summit of the periodical "Works Management" in October 2011. He says that the businesses find the decline of local bank managers and increase of personal guarantees galling. He states that the 10 months in to Project Merlin is appalling that manufacturers still...

  • Upholding of foreclosure rule may help homeowners. Edwards, John G. // Las Vegas Business Press (10712186);12/21/2009, Vol. 26 Issue 51, pP13 

    The article focuses on a ruling by Las Vegas, Nevada U.S. District judge Kent Dawson on a foreclosure hearing. On December 4, 2009, Mortgage Electronic Registration Systems, Inc. (MERS) was denied foreclosure proceedings on residences on behalf of the lenders by Dawson because it was not able to...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics