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Efforts to sell the Statler Towers continue, but no firm offer has been made, the court-appointed trustee in the bankruptcy case said Monday. We're still working with a number of interested entities," Morris Horwitz, the trustee, said after an appearance in U.S. Bankruptcy Court.
All terms need not be spelled out initially for an offer to qualify as a "firm offer of credit" under the Fair Credit Reporting Act, the 7th Circuit has ruled. The court reviewed three consolidated cases involving offers to consumers identified as potentially credit-worthy borrowers using lists the lenders purchased from credit bureaus. The Act permits the use of such information only for "firm offers of credit.
A very small portion of Arizona's border fence project might be realized sooner than expected. Sen. Steve Smith, the project's author, earlier disclosed that he's in negotiations with a fence manufacturer about possibly donating or selling "several miles" of fencing at a greatly reduced rate to Arizona.
A Company Makes Its Move-Real Estate Special Report - Discusses the process of renting office space
PASADENA - The head of Meruelo Maddux Properties Inc. is fighting what he fears is a hostile takeover bid by East West Bancorp, to which Meruelo Maddux owes money. But East West spokeswoman Emily Wang said the bank is only seeking to submit a reorganization plan for the Los Angeles-based company that would be in the best interest of East West and Meruelo Maddux's other creditors.
International Paper took its $3.3 billion offer to buy rival Temple-Inland Inc. directly to that company's shareholders Monday, calling its board's price expectations "unrealistic. The fully financed, all-cash offer would buy all outstanding shares of the Austin, Texas-based corrugated packaging and building products company for $30.60 per share.
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