Barry Sternlicht, who built his career buying distressed real estate in the early 1990s, is seeking to profit from the U.S. housing market revival by taking public a four-year-old homebuilder that has yet to make money.
MIG Inc. , the indirect owner of 47 percent of the leading telecommunications provider in the Republic of Georgia, reached a settlement with the creditors’ committee that resulted in the approval of a disclosure statement on Aug. 19.
Almatis BV, a producer of specialty alumina products, will have a fight on its hands if it tries to extinguish claims of second-lien and mezzanine lenders by giving them only small distributions in the prepackaged reorganization begun April 30 in New York.
Marriott International Inc. , the largest U.S. lodging chain, and other groups including Le Meridien and W Hotels , plan to open their first hotels in Taiwan as they compete to cater for rising numbers of Chinese tourists.
Iron Point Titan Ventures LLC , a real estate private-equity firm, bought defaulted debt tied to downtown Manhattan’s W Hotel as funds seek distressed opportunities, according to a person briefed on the transaction.