Oct 22nd, 2009 - Bloomberg
Oct. 22 (Bloomberg) -- Tishman Speyer Properties LP andits partners moved closer to defaulting on $3 billion in loansthey used to purchase Manhattan’s largest apartment complexafter a New York court ruled that the owners illegally raisedrents on thousands of tenants.
The New York Court of Appeals in Albany said today therent increase on about 4,350 apartments at the Stuyvesant Town-Peter Cooper Village complex violated the law because it wasbuilt with city assistance and the owners received tax breaks.
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Bondholders Face Losses After New York's Stuyvesant Town Ruling
Oct 23rd, 2009 - Bloomberg
Oct. 23 (Bloomberg) -- Bonds backed by $4.5 billion ofmortgages on New York City apartment buildings may lose incomeafter a state court ruled that owners of Manhattan’s biggestrental complex illegally raised rents...
UPDATE 1-Tesoro says plans Salt Lake crude unit restart
Oct 23rd, 2009 - Reuters
(Adds comments from spokesman, vice president, paragraphs 3,4) HOUSTON, Oct 23 (Reuters) - Tesoro Corp (TSO.N) plans torestart on Friday the crude distillation unit at its 58,000barrel-per-day refinery in Salt Lake City...
Big Legal Setback for Tishman and BlackRock
Oct 22nd, 2009 - New York Times
Tishman-Speyer and its partner, BlackRock Realty, the partnership owners of Stuyvesant Town and Peter Cooper Village, the huge 110-building apartment community on the east side of Manhattan...NYC ruling tenant victory, landlord nightmare
Oct 22nd, 2009 - Reuters
NEW YORK (Reuters) - Thousands of New York City apartment renters on Thursday won a major court victory that could help them keep lower rents but may drive landlords into foreclosure and crater city tax revenues.Court Rules Against Tishman in Stuyvesant Town Case
Oct 22nd, 2009 - Wall Street Journal
NEW YORK -- The state of New York ruled against owners of a massive Manhattan apartment complex that have tried to charge market-rate rents. The state's highest court decided that a venture of Tishman Speyer Properties and a unit of BlackRock Inc...
