Joe Kelly's (bridge-loan) Blog

Creditors can be reimbursed by a bankrupt company for reasonable attorneys’ fees spent fighting each other and the debtor, if a Chapter 11 plan so provides, U.S. Bankrup-tcy Judge Robert E. Gerber ruled last week in the long-completed liquidation of Adelphia Communic-ations Corp. Read more on thi...

Bank of America NA was on the losing end of an opinion in which the bankruptcy judge ruled Lehman Brothers Holdings Inc. is entitled to the return of $500 million that the bank improperly set off in viol-ation of the so-called automatic stay. Read more on this story fromBloomberg here------------...

  Regions Financial Corp., Alabama’s biggest bank, had its credit rating cut for the second time this month by Moody’s Investors Service after the lender ousted three managers who oversaw risk and souring assets. Read more on this story fromBloomberg here------------------------------------------...

  Anglo Irish Bank Corp., the Dublin- based lender seized by the govern-ment after its real estate loans soured, will auction 232 unsold condo units in Manhattan’s Battery Park City today in an attempt to recoup $135 million it is owed on the project. Read more on this story fromBloomberg here---...

The bankruptcy judge overseeing the reorganization of real-estate investment trust Petra Fund REIT Corp. said she is unlikely to appro-ve a creditor’s request for an inves-tigation of possible asset transfers by the company. Read more on this story fromBloomberg here------------------------------...

The owner of Lipstick Building, the midtown Manhattan tower where Bernard L. Madoff ran the biggest Ponzi scheme in U.S. history, filed for bankruptcy with a plan to reorganize with support of its largest creditor. Read more on this story fromBloomberg here----------------------------------------...

ProLogis (NYSE: PLD), the world's largest warehouse and distribution center owner, has closed the sale of a portfolio of North American ind-ustrial properties to Blackstone Real Estate Advisors and a minority inter-est in a hotel to Hilton Worldwide for $1.01 billion, in a transaction reported by...

CoStar Group's In The Pipeline is a column on significant land sales, tra-nsactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Read more on this story fromCostar here------------------------------------------You can instantly receive ...

ING Clarion Partners sold 2121 K St., a 190,628-square-foot office building in the central business district of Wash-ington, DC, to New York City-based TF Cornerstone for $82.44 million or $432.50 per square foot. Read more on this story fromCostar here------------------------------------------Yo...

Lack's Stores Inc., one of the largest independently owned retail furniture chains in the U.S. with 36 stores, is closing up shop. Read more on this story fromCostar here------------------------------------------You can instantly receive news updates like this via the RSS feedfor the main blog on...