Brookfield Residential Properties Inc., a land investor in the U.S., lost a bid for a trial after having been ordered to pay $519,000 to Zephyr Equities & Development LLC in an arbitration for breach of contract, according to statements from the companies and their lawyers.
Patton Boggs LLP agreed to pay $15 million to settle Chevron Corp.’s lawsuit over the law firm’s involvement in obtaining a $9.5 billion judgment against the oil company in Ecuador. Patton Boggs also agreed to withdraw from the Ecuador litigation.
Toll Brothers Inc. agreed to buy Shapell Industries Inc.’s homebuilding business for about $1.6 billion, gaining 5,200 lots in the Los Angeles and San Francisco Bay areas as buyer demand for housing rises.
FivePoint Communities Management Inc. is already constructing a school at its Great Park Neighborhoods project in Irvine, California, for 1,000 elementary and middle school students even as it’s still building the first 700 homes.