Steven Church

1 week ago | news.bloombergtax.com | Jonathan Randles |Steven Church

A portfolio of rent-stabilized New York City apartments owned by Joel Wiener was pushed into bankruptcy by “sky-rocketed” interest rates and changes to state housing law that restricted the property owners’ ability to increase rent on tenants, according to court papers. Dozens of properties managed by Wiener’s Pinnacle Group were put into Chapter 11 last week, saddled with roughly $564 million in mortgage debt and facing foreclosure actions from its primary lender, Flagstar Bank.

1 week ago | news.bloomberglaw.com | Jonathan Randles |Steven Church

A portfolio of rent-stabilized New York City apartments owned by Joel Wiener was pushed into bankruptcy by “sky-rocketed” interest rates and changes to state housing law that restricted the property owners’ ability to increase rent on tenants, according to court papers. Dozens of properties managed by Wiener’s Pinnacle Group were put into Chapter 11 last week, saddled with roughly $564 million in mortgage debt and facing foreclosure actions from its primary lender, Flagstar Bank.

1 week ago | bloomberg.com | Jonathan Randles |Steven Church

Buildings in the Manhattan skyline in New York, US, on Saturday, May 10, 2025. New York City officials cut their forecast for the number of international tourists this year by 17%, saying President Donald Trumps tariffs and hard-line policies on immigration are deterring visitors.

1 week ago | news.bloomberglaw.com | Steven Church

has filed for bankruptcy, seeking protection from creditors after struggling with higher expenses and the impact of the pandemic on the aviation sector. • The company aims to eliminate over $2 billion in debt and receive $950 million in new capital contributions through the restructuring process. • This filing makes Azul the last of the three dominant Brazilian carriers to seek protection from creditors.

1 week ago | torontosun.com | Steven Church

(Bloomberg) — A Canadian aluminum trader that had been struggling to restructure its debt has filed bankruptcy in the US and Canada, saying the American trade war helped push the company over the edge. Sinobec Group Inc. arranges deals between sellers and buyers of aluminum ingots, as well as finished items like building products, shower doors and fences, the company said in court papers filed in federal court in Illinois on Tuesday.