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Found 15 results

  1. Another great upcoming restoration along Verdun's main street. As of September 2015: The Baptist Church had been there since 2002 and moved out on July 5th 2015. Bye bye silly blue panels. June 2015: Perhaps Uniprix can follow suit and restore their facade at 4470 Wellington. I think this used to be an arena of some kind, or a boxing gym?
  2. Trump Files Suit Against Lenders Developer Seeks to Extend $640 Million Loan on a Chicago Skyscraper Wsj.com By ALEX FRANGOS Tall Trouble: Donald Trump's Chicago skyscraper project, the Trump International Hotel & Tower, during construction in July. Mr. Trump is suing to extend a $640 million senior construction loan on the 92-story Trump International Hotel & Tower from a group of lenders led by Deutsche Bank AG and including a unit of Merrill Lynch & Co., Union Labor Life Insurance Co., iStar Financial Inc., a publicly traded real-estate investment trust, and Highland Funds, a unit of Highland Capital Management LP. The tower, which contains 339 hotel rooms and 486 condominiums, will be the second-tallest building in the U.S. behind Chicago's Sears Tower and is expected to be completed in mid-2009. The hotel, on the lower floors, opened earlier this year. But sales of both the hotel rooms and the condominiums have come in below original estimates and the project's current projected revenue remains short by nearly $100 million needed to pay off the senior lenders. The lawsuit, filed in New York State supreme court in Queens, is a further indication of the dysfunction in the real-estate lending markets as borrowers and lenders struggle to resolve troubled projects. People familiar with the matter say the lender group, which is made up of more than a dozen institutions, was unable to agree on the extension. The suit demands -- among other things -- that an extension provision in the original loan agreement be triggered because of the "unprecedented financial crisis in the credit markets now prevailing, in part due to acts Deutsche Bank itself participated in." This so-called force majeure provision is common in contracts and can be applied to acts of war and natural disasters. Mr. Trump already extended the loan once in May. From the Archives Mr. Trump asked for $3 billion in damages. The suit won't affect construction of the project, according to people familiar who say there is enough money to complete the $90 million work that is left. The suit says Mr. Trump attempted to resolve the impasse by offering to buy the project's unsold hotel units for $97 million. That money would be used to pay down the construction loan, along with the $204 million in proceeds from closed units and the $353 million that is expected from units that close in the next six months. A Deutsche Bank spokesman declined to comment. Mr. Trump has put $77 million of his own equity into the tower, which he would stand to lose in a potential foreclosure. Other than a $40 million guarantee to complete the project, Mr. Trump has no recourse obligations to the project. A Trump spokesman declined to comment. [Trump, Donald] Deutsche Bank originated the construction loan in 2005 and sold off most of it to others, retaining less than $10 million of exposure on that loan. The suit alleges that Deutsche Bank compromised the senior construction loan by selling pieces off to "so many institutions, banks, junk bond firms, and virtually anybody that seemed to come along," that the lending group is unable to come to a consensus on how to deal with the matter. It also alleges Deutsche Bank created a "serious conflict of interest" by taking a separate stake in the project's so-called mezzanine loan that was originated by private-equity firm Fortress Investment Group. The mezzanine loan, which is junior to the senior construction loan, had an original principal of $130 million but will eventually accrue to $360 million. Deutsche Bank purchased roughly one-quarter of the mezzanine loan, according to people familiar with the matter. The suit names the mezzanine lenders as defendants, including Fortress and its affiliates, Newcastle Investment Corp. and Drawbridge Special Opportunities Fund, as well as Dune Capital Management and Blackacre Institutional Capital Management, the real-estate arm of Cerberus Capital Management. Fortress didn't respond to a request for comment. The other lenders declined to comment. Unless sales of the condo and hotel units restart despite the worst housing market in generations, and quickly generate $400 million in new sales, it will be difficult for the project to pay off the mezzanine loan, which comes due in May 2009.
  3. Au Nymex, le baril de light sweet crude perdait 8,75 $ et le baril de Brent était en baisse de 5,39 $. Pour en lire plus...
  4. http://www.groupedayan.com/9425-rue-meilleur.php sur ce lot vacant: [sTREETVIEW]https://maps.google.ca/maps?q=9425+Rue+Meilleur&ie=UTF8&ll=45.537952,-73.656209&spn=0.001182,0.002401&sll=45.5388622,-73.6597156&sspn=0.0057713,0.0109864&hnear=9425+Rue+Meilleur,+Montr%C3%A9al,+Qu%C3%A9bec&t=h&z=19&layer=c&cbll=45.53788,-73.656476&panoid=30JHmLjEgX1eF_6IBh9ovQ&cbp=12,323.89,,0,-9.19[/sTREETVIEW]
  5. Laval séduit Standard & Poor's La firme d'évaluation de crédit Standard & Poor's a revu à la hausse la cote des titres d'emprunt à long terme de la Ville de Laval. Celle-ci passe de A+, avec perspective positive, à AA-, avec perspective stable. S&P justifie sa décision par «les progrès continus dans la réduction significative de la dette, conjugués à une forte croissance économique et à une performance budgétaire améliorée». L'agence ajoute notamment que depuis 1999, l'endettement de Laval suit une courbe descendante, le ratio de la dette sur les revenus totaux, une mesure propre à Standard & Poor's, ayant décliné de plus de 30% durant cette période. «Nous prévoyons que cette tendance se poursuivra au cours des prochaines années», précise Standard & Poor's.
  6. Le papier recyclé suit les autres ressources. Résultat: il s’accumule dans les centres de tri de la planète, une occasion d’affaires à court terme. Pour en lire plus...
  7. Newbie

    RCMP Info

    This is embarrassing. I know it's wrong, but I hope someone can help me, and you are the best informed people I know in Montreal. I left an university library book to be photocopied at Copie 2000 on Sherbrooke Ouest at Peel. Apparently some author made some kind of copyright claim and the RCMP took all of Copie 2000's books for an investigation. Now they (Copie 2000) say they do not have my book and are still waiting for them to be returned by the police. Also they do not want to give me any information about the case at all and seem quite upset and a little bit rude. I wonder if there is any website where I can learn of the suit or if the RCMP would be willing to inform me about it in some way so I can estimate a return date. Is this information public?
  8. Un article plein de préjugés sur Montréal et le comparant au New York des années 70. http://www.theglobeandmail.com/news/national/quebec/is-montreal-headed-toward-a-new-york-style-crisis/article1643336/ J'ai rarement vu un article aussi sévère envers une ville.... Montréal n'a peut-être pas la santé financière de New York mais ce n'est pas Beirut non plus... Mais dans le fond, pourquoi accorder autant d'importance a un tel torchon?? Pire journal anti-francophone du pays... Le National Post suit de pas trop loin....
  9. La banque suisse suit le mouvement amorcé par Citigroup en signant un accord pour racheter des obligations beaucoup moins liquides que promis à ses clients. Pour en lire plus...
  10. Malgré les hausses successives du prix de l'essence à la pompe et les fluctuations du prix du baril de pétrole sur les marchés boursiers, le prix des denrées alimentaires n'a pas subi de hausses fulgurantes. Pour en lire plus...
  11. Les indices Dow Jones et SP 500 chutent à leur niveau le plus bas depuis 12 ans, et Toronto suit la tendance causée par un manque de confiance chronique des investisseurs. Pour en lire plus...
  12. La crise qui secoue Wall Street rappelle aux autorités chinoises qu'il y a un risque à ouvrir son système financier au monde. Pour en lire plus...
  13. Il s'agit d'un nouveau poste au sein de la compagnie et un des rares du genre en Amérique du Nord. Cette annonce suit la crise entourant le découverte de la listéria dans une usine de l'entreprise. Pour en lire plus...
  14. Les mauvaises nouvelles économiques s'accumulent minant l'humeur des investisseurs. Après les chutes en Asie, l'Europe suit la même tendance. Pour en lire plus...