Preview Newsletter
lehman 5/9
-
Jury in Tabernula case directed to give majority verdict
May 6, 2016 | Financial Times
By Caroline Binham
...The FCA accuses Martyn Dodgson, a former corporate broker at Deutsche Bank and Lehman Brothers, and Grant Harrison, a former corporate broker at Panmure Gordon, of passing inside information to a middleman, Andrew Hind, a trained accountant who was formerly a finance director at Topshop, part of Sir Philip Green’s Arcadia Group. -
Brookfield completes $2B in refinancings, to sell stake in One New York Plaza
May 6, 2016 | The Real Deal Magazine
By Katherine Clarke
...The company also refinanced office tower One New York Plaza with a $750 million loan from Wells Fargo, replacing a $400 million commercial mortgage-backed security (CMBS) loan issued by Lehman Brothers and Goldman Sachs in 2006 to the building’s prior owner, Trizec Properties.
Client Attorney Privileged/Attorney Work Product/At Request of Counsel
Former Lehman Personnel
Brookfield
Full Text of Stories Below
-
Jury in Tabernula case directed to give majority verdict
May 6, 2016 | Financial Times
By Caroline Binham
Jurors deciding the fate of five defendants in the UK’s most high-profile trial of insider trading said they might be approaching an “impasse” in their deliberations.
The note from the jury at Southwark Crown Court on Friday prompted Mr Justice Pegden to direct that they could now give a majority verdict rather than a unanimous one, with at least 10 people to agree. The jury will continue their discussions on Monday.
“After nearly two weeks and looking at the evidence very carefully, we may be reaching an impasse,” the jury’s note read.
A majority direction from a judge often speeds up a verdict. If fewer than 10 jurors agree on a decision, a hung jury could occur. If there is a hung jury, the Financial Conduct Authority would have the option of abandoning or seeking to retry the case, which it began investigating eight years ago.
The jury is deciding the fate of five defendants — nicknamed Fruit, Little, Nob, Uncle and Fatty — who are all accused of a single count of insider trading. The FCA alleges that they netted £7.4m through insider trading on six stocks, including Scottish & Newcastle and nCipher.
Insider trading carries a maximum seven-year sentence.
The FCA accuses Martyn Dodgson, a former corporate broker at Deutsche Bank and Lehman Brothers, and Grant Harrison, a former corporate broker at Panmure Gordon, of passing inside information to a middleman, Andrew Hind, a trained accountant who was formerly a finance director at Topshop, part of Sir Philip Green’s Arcadia Group.
Mr Hind then placed trades on behalf of the pair through two “prolific” day traders based in London’s Belgravia, Iraj Parvizi and Ben Anderson, the FCA alleges...
For full story: http://www.ft.com/intl/cms/s/0/f13f50ae-13a2-11e6-839f-2922947098f0.html#axzz488DSoomD
-
Brookfield completes $2B in refinancings, to sell stake in One New York Plaza
May 6, 2016 | The Real Deal Magazine
By Katherine Clarke
Brookfield Property Partners completed $2 billion in refinancings in the first quarter, including a $900 million deal to refinance 225 Liberty Street in Lower Manhattan, the firm said in a first quarter earnings call Friday.
The loan, which came from a consortium of banks including Citi, Wells Fargo, and Deutsche Bank, replaced an existing loan of $340 million that matured in the first quarter, a spokesperson told The Real Deal. The new loan has a fixed rate of 4.66 percent for a 10-year term.
The company also refinanced office tower One New York Plaza with a $750 million loan from Wells Fargo, replacing a $400 million commercial mortgage-backed security (CMBS) loan issued by Lehman Brothers and Goldman Sachs in 2006 to the building’s prior owner, Trizec Properties.
Meanwhile, Brookfield continues to sell off some of its prime trophy assets and is in the process of selling a non-controlling interest in One New York Plaza for an undisclosed sum.
A spokesperson for the company declined to comment on the buyer or sales price. The tower, at 1 Water Street, has 2.59 million square feet. Tenants include investment bank Morgan Stanley, which takes up about 1.2 million square feet, and law firm Fried, Frank, Harris, Shriver & Jacobson.
At Manhattan West, Brookfield’s major mixed-use development on the west side, the firm is in discussions with eight separate tenants for 3 million square feet of space, it said. The Qatar Investment Authority acquired a 44-percent stake in the five-building, $8.6 billion project last year...
For full story: http://therealdeal.com/2016/05/06/brookfield-completes-2b-in-refinancings-to-sell-stake-in-one-new-york-plaza/
Client Attorney Privileged/Attorney Work Product/At Request of Counsel
Former Lehman Personnel
Brookfield
Full Text of Stories Below
Add recipients
Suggested