All Year LLC opts for bankruptcy to stop Bushwick foreclosure

first_img Full Name* After plans for a big portfolio sale and refinancing last year fell apart, All Year’s financial and legal troubles began to escalate at the end of November when the developer missed an interest payment on bonds listed in Israel and delayed its quarterly financial reporting.Biran was brought on as CRO in December, and the company’s four bond series have been delisted from the Tel Aviv Stock Exchange. Several groups of investors — including Criterion Real Estate Capital and Downtown Capital Partners; Madison Capital and Meadow Partners; Dabby Investments; and Churchill Real Estate and Graph Group — have submitted restructuring offers for the company in the past two months.“The Denizen constitutes one of All Year’s most valuable assets and is central to All Year’s ongoing restructuring discussions,” Biran wrote in court filings, also noting that “because the Denizen’s value is derived from its rich amenities,” it was disproportionately affected by Covid shutdowns of shared spaces.The Mack loan covers phase two of the Denizen, at 123 Melrose Street. A $170 million senior loan on the property provided by JPMorgan Chase is also in default. Phase one of the 900-unit complex, at 54 Noll Street, is the collateral for All Year’s Series E bonds.All Year is not seeking any first-day relief in bankruptcy court. Biran says the firm intends to continue discussions with stakeholders and bring the court a restructuring solution that maximizes value for all parties with an interest in the Denizen.In Tel Aviv Stock Exchange filing Sunday, All Year disclosed that Biran intended to “end his tenure” as CRO. An exit date had not been set.Contact Kevin Sun all year managementbankruptcybushwickforeclosureMack Real Estate Tags Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink The bankruptcy filing was made to protect the value of the Denizen. (The Denizen) Three weeks ago, Yoel Goldman’s All Year Management sued Mack Real Estate to stave off the foreclosure of $65 million in mezzanine debt. The move bought the developer time to protect his Denizen Bushwick rental complex — but time ran out.Yesterday, a day before the rescheduled UCC sale, All Year’s debtor LLC filed for Chapter 11 bankruptcy protection.All Year and Mack had talked over the past few weeks about “potential sale structures with respect to the Denizen” but failed to agree on a solution, All Year chief restructuring officer Joel Biran wrote in a Southern District court filing.ADVERTISEMENTHence the LLC’s bankruptcy filing, which was made “on an emergency basis to protect the value of its property.”Including principal, interest, and a forbearance fee, All Year’s outstanding debt on the mezzanine loan exceeds $73 million, according to the filing. All Year did not respond to a request for comment.Read moreAll Year files last-minute lawsuit to block Bushwick mezz foreclosureDrug smuggler pardoned by Trump sued by All Year over high-interest loansDavid Werner sues All Year over scrapped $344M portfolio deal Email Address* Message*last_img read more

Dixie State baseball hosts Spring Kickoff Weekend

first_img FacebookTwitterLinkedInEmailST. GEORGE, Utah-Friday and Saturday, Dixie State baseball hosts the 2020 Dugout Club Spring kickoff weekend.There will be activities for baseball alumni, supporters and fans of the program.Festivities commence with a Friday four-person golf-scramble tournament at the Ledges Golf Course at 10:00 am.This is followed by a silent auction and meet-and-greet with the current Trailblazers baseball team at the Gardner Center ballroom on campus at 6:00 pm.Seating for the banquet is still available and is $50 per person and $400 for a table of eight.There is also a corporate group seating option for the banquet for $750. This includes seating for 16 people (two tables).Saturday, Dixie State celebrates its athletic hall of fame ceremony. This features an alumni game and barbecue at Bruce Hurst Field.The 12:00 pm event features a $20 fee for alumni who want to play in the game. This entails batting practice, a vintage Dixie State jersey and lunch.Admission is free to this game for all fans.Later that evening, the Trailblazers commence a 3-game series against the Concordia-Portland Cavaliers. Written by February 17, 2020 /Sports News – Local Dixie State baseball hosts Spring Kickoff Weekend Tags: Dixie State Baseball Brad Jameslast_img read more

Most Read News, December 12 – 18, 2016

first_img Most Read News, December 12 – 18, 2016 Back to overview,Home naval-today Most Read News, December 12 – 18, 2016 View post tag: Most Read News Authoritiescenter_img December 18, 2016 Share this articlelast_img

Britvic continues to up soft drink sales

first_imgBritvic has continued to grow its soft drink sales for the 12 weeks to 20 December 2009, with revenue up 11% on 2008 to £242.7 million.Its GB carbonates division saw revenue growth of 20.1%, GB Stills revenue increased 9.6% and Britvic’s International arm saw growth of 5.1%.However the contribution from Britvic Ireland of £48.4m for the three months to 31 December 2009 was down by 3.0% on the same period in 2008, although underlying euro revenues were down by 10.1%. The firm also increased its volume share of the take-home market in Great Britain by a further 0.4% over the period.The firm reported that the stills market growth had been driven by categories such as plain water and sports drinks, while carbonates growth came mainly from the cola and glucose/stimulant drinks categories.“Shoppers in Ireland have again focused on value in the latest quarter,” according to the firm, which added that although volumes in the grocery market in the Republic of Ireland were flat, heavy discounting and promotions have pushed down its value by 12.8%.last_img read more

Buckee named a top 100 global thinker by Foreign Policy

first_imgCaroline Buckee, assistant professor of epidemiology and associate director of the Center for Communicable Disease Dynamics at Harvard School of Public Health (HSPH), was named one of the top 100 global thinkers of 2013 by Foreign Policy (FP). Buckee was listed among what the magazine’s editors called “some of the world’s most exciting people” who are “doing nothing less than bringing peace, protecting the planet, and pushing the boundaries of the possible.” Buckee, whose research focuses on using cellphone data to curb the spread of malaria, was included in a category titled “Healers.” Read Full Storylast_img read more

Text messages effective in treating malaria

first_imgSimple text message reminders to take medication can help malaria patients stick to their medication regimen, according to a new study by researchers at Harvard School of Public Health (HSPH) and the non-profit Innovations for Poverty Action (IPA).The study was published October 28, 2014 in PLOS ONE.“When patients don’t complete their full medication regimen, diseases can develop resistance to treatment. And with infectious diseases like malaria, drug resistant diseases can spread to others,” lead author Julia Raifman, doctoral candidate in the Department of Global Health and Population (GHP) at HSPH, said in an October 28, 2014 New York Magazine article.Despite major international efforts over decades, malaria continues to be a primary cause of death globally. An estimated 655,000 to 1.24 million people died of malaria in 2010; more than half were below age 5.Other HSPH authors included Heather Lanthorn, a doctoral student in GHP, and Slawa Rokicki, SM ’12, now enrolled in the Harvard Graduate School of Arts and Sciences Health Policy program. Senior author of the study was Güenther Fink, associate professor of international health economics at HSPH. Read Full Storylast_img read more

The science behind the new dietary guidelines report

first_img Read Full Story What should we eat to be healthy — and to stay that way?More fruits and vegetables. Less red and processed meat. Whole grains instead of refined. Nonfat dairy foods, legumes, nuts, and seafood. Fewer foods with added sugars or high levels of saturated fat and sodium.And foods with cholesterol, like eggs — long seen as unhealthy — are now considered OK. That’s because recent research shows only a weak link between cholesterol in the diet and blood cholesterol, and moderate egg consumption—up to one egg a day — is not associated with heart disease among healthy people.These are some of the main recommendations from the 2015 Dietary Guidelines Advisory Committee (DGAC), which last week issued a report on how food, nutrition, and physical activity can promote the health of the U.S. population.Many of the DGAC committee members came together, both in-person and via a live webcast, at a February 25, 2015 symposium at Harvard T.H. Chan School of Public Health. Presenters included Harvard Chan’s Frank Hu, professor of nutrition and epidemiology, and committee chair Barbara Millen, former professor at the Boston University School of Medicine and now president of public health startup Millennium Prevention. The event, held at Kresge’s Snyder Auditorium, also drew hundreds of online viewers.last_img read more

University unveils plan to end coal use, reduce carbon footprint

first_imgIn advance of Pope Francis’s historic visit to the United States this week, Notre Dame is acting on the pontiff’s message of sustainability and care for the environment.After Tuesday morning’s town hall meeting in Washington Hall, University President Fr. John Jenkins and Executive Vice President John Affleck-Graves held a press conference to discuss the University’s new initiative to end all use of coal by 2020 and to reduce the University’s carbon footprint by more than half by 2030.The initiative, announced in a press release Monday, comes as a response to Pope Francis’s May encyclical “Laudato Si,” Jenkins said.“We have had efforts in sustainability … and we made really very good progress over the past decade, at least,” Jenkins said at the press conference.“But this summer, when Pope Francis promulgated his encyclical ‘Laudato Si’, I went to John [Affleck-Graves] and I said, ‘John, let’s look at it. Can we take a further step? Can we do a bit more to respond to the Pope’s encyclical, to respond to the challenge of the environment?’”According to the press release, Notre Dame will also invest $113 million in renewable energy including geothermal, solar, hydroelectric and biomass sources. Affleck-Graves said the University will keep its options open with these technologies, including possibly installing solar panel fields somewhere on campus.“We would like, in the end, to have a fairly diversified strategy so that we have a little bit of each of those and eventually get to a stage where we can be fully renewable,” Affleck-Graves said.“But that’s probably going to take 40 to 50 years to get to be a fully renewable campus.”Jenkins said this project will carry significant costs, but he and Affleck-Graves said they ultimately think the investment in sustainable energy will pay for itself. Eventually, the University hopes these technologies will decrease Notre Dame’s carbon dioxide emissions by 47,500 tons per year, or the equivalent to taking 10,000 cars off the road, according to the press release.“It will cost us,” Jenkins said. “It will cost us; however in the long run, I’m hoping that some of these fuel sources can be cost effective.“I think in a way, it’s the Pope calling us to take the long view. Often we take the short view, and if you take the long view, and if you’re innovative, there’s some pain up front, but in the long run, it’s more sustainable, and, we think, cost effective.”The new initiative “is a continuation, but a kind of augmentation” of the University’s efforts to reduce its environmental impact, Jenkins said. Affleck-Graves said Notre Dame has decreased its coal use from about 85 percent of campus’s total energy use in the mid-2000s, to 15 percent now. A large part of the strategy going forward, Affleck-Graves said, is conservation.“We’ve been working very hard since the early 2000s on the concept of ‘it’s the responsibility of everybody to honor the planet and to leave the planet in a better state than we got it,’ and a big part of that is conservation,” he said.“We estimate we can decrease our carbon footprint by 15 to 20 percent just by conservation efforts, so we’ve worked hard on those. And then there are a variety of other issues that we’re looking at.”Jenkins will be in Washington, D.C. on Wednesday and Thursday for Pope Francis’s visit, and said he hopes the University’s renewed and more aggressive approach to reducing its carbon footprint will resonate with other universities and the general population as a way to heed the Pope’s call to care for the planet.“I hope it affects other universities, but I hope it also gives an example just to the population at large, just about taking these issues seriously and taking the steps we can,” Jenkins said. “Again, we want to join with the Holy Father, the Pope, in his call to take these issues about nurturing the environment seriously.”At the afternoon town hall meeting, Jenkins gave an overview of changes to campus life, including sustainability, and Affleck-Graves announced campus facility updates. Vice President for Human Resources John McQuade also explained the changes being made in the health insurance of staff and faculty.Jenkins spoke on the need for the University to become more efficient in order to offer more support to students and their families.“Notre Dame costs a lot of money for the families who send their children here,” he said. “It is extremely important that we are efficient and conscientious in running this place. We work very hard in providing financial aid, but we still have to be conscious about this. … You read that higher education is bloated and inefficient, complacent, it’s not run effectively, and I cannot believe that’s true for Notre Dame.”Affleck-Graves said the University is planning two off-campus building projects: a boathouse for the men’s and women’s rowing teams at Viewing Park, set to be completed in December, and the Notre Dame Turbomachinery Facility in South Bend’s Innovation Park.“This [facility] not only is going to help with our research, but it will also help the economic engine in our community,” Affleck-Graves said. “It’s a wonderful collaboration to help with the city and its businesses and the people. In this facility, what they’re going to do is test gas turbine engines.”Affleck-Graves said the University is addressing several faculty-raised facility issues, including a lack of short-term parking and elevators in need of repair at Flanner and Grace Halls. He said the University will be adding short-term parking lots near O’Shaughnessy Hall and Galvin Life Science Center, and the elevators in both Flanner and Grace Halls will be fixed over the course of several months.“The good news is we can replace each of the six elevators,” he said. “The bad news is that it’s much more complicated to fix than I thought. Each elevator has to be replaced and they have to redo the shaft and it takes three months per elevator. We have a plan to do this over nine months total in each building.”Staff health insurance will be undergoing changes, McQuade said, with the addition of a new high deductible plan and a switch to active enrollment.“It’s not like all the plans are going to dramatically change,” he said. “But it is imperative that you be informed about your health care choice because we are adding plans, and it’s absolutely critical to us that the right people choose the right plans.”Tags: Carbon footprint, coal, fr. jenkins, John Affleck-Graves, laudato si’, Pope Francis, town halllast_img read more

The Total Bent Extends Off-Broadway

first_img The world premiere of The Total Bent has extended its run at the Public Theater. The Stew and Heidi Rodewald musical, which begins preview performances on May 10, will now run through June 19 (instead of the previously announced June 12). Opening night is set for May 25.Directed by Joanna Settle, The Total Bent follows Marty Roy, a young black musical prodigy, as a British record producer arrives in Montgomery, Alabama to sign him. The son of a gospel star and self-proclaimed healer, Marty spent his childhood writing the songs that have made his charismatic father famous. But in a nation on the verge of social upheaval, Marty finds himself at odds with his spiritually forceful father as he strives to create a masterpiece that will change America—no matter the cost.The cast features Ato Blankson-Wood, Kenny Brawner, David Cale, Vondie Curtis-Hall, Damian Lemar Hudson, Jahi Kearse and Curtis Wiley. In addition to Stew and Rodewald, the band includes Marty Beller, John Blevins and Brad Mulholland. View Comments Heidi Rodewald & Stew(Photo: Savine Scheckel) The Total Bentcenter_img Related Shows Show Closed This production ended its run on June 26, 2016last_img read more

The envelope system goes digital

first_imgThere’s a brand new player hitting the personal financial management space today. And its inspiration is a method of savings that isn’t fancy, is probably the way that your parents and grandparents saved for vacations, holiday presents and other big purchases, and what Dave Ramsey says is the most reliable way to make sure money is actually saved: The Envelope System.But this version is all digital – and it’s called Money Clouds.In a press release announcing its launch today, a venture five years in the making, Money Clouds describes itself as a platform that helps customers define and save for individual goals outside of their primary bank account.In an interview with MPD CEO Karen Webster prior to the launch, Jason Conway, Founder and CEO of Quemulus (the company behind Money Clouds), told Webster that he “loved hearing” her tell him that the envelope method is how her parents saved money when she was growing up, because it speaks to how widely the concept resonates.He relates an anecdote of his own, which inspired what is now Money Clouds. continue reading » 38SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more