• Most Popular
  • Most Shared

Developer Macklowe receives default notice - WSJ

Mon Feb 11, 2008 8:26pm EST

NEW YORK, Feb 11 (Reuters) - New York developer Harry Macklowe on Monday was served with a notice of default related to debt on four properties, a move that could spur actions that lead to a foreclosure action, according to a report in the online edition of the Wall Street Journal.

The report, citing two people familiar with the matter, said a special servicer sent the notice of default after no agreement could be reached by lenders to give Macklowe an extension on his $3.1 billion in debt on the four properties. (Reporting by Ransdell Pierson; editing by Carol Bishopric)



More from Reuters

Photo

Strong U.S. retail sales rise boosts recovery hopes

WASHINGTON (Reuters) - Sales at U.S. retailers rose more than expected in November as consumers stepped up spending on gasoline and a wide range of other goods, data showed on Friday, raising hopes of a self-sustaining economic recovery.

» More Top News
A weary trader rubs his eyes as he pauses outside the New York Stock Exchange following the end of the trading session in New York October 9, 2008. REUTERS/Mike Segar
EXCLUSIVE:

PIMCO finds its calling

It made a name for itself by investing in bonds, and now PIMCO has landed in a booming $1-trillion business that, put simply, steers clients through "very hard situations."  Full Article 

Funds
Kenneth Feinberg, special master of executive compensation in the Troubled Asset Relief Program at the Treasury, speaks in Washington November 2, 2009. REUTERS/Joshua Roberts

Pay cuts, round two

The six firms still under pay czar Ken Feinberg's authority are girding for the impact of the next round of compensation rulings.  Full Article 

Executive compensation