A Delaware Superior Court judge found PHC failed to show it suffered reputational loss from Nuveen's alleged defamation to go to trial. PHC will appeal.
A federal judge denied Nuveen's motion to dismiss Preston Hollow's antitrust lawsuit concluding a "plausible" claim exists to proceed. PHC faces a tougher legal road ahead in proving its rival orchestrated a damaging boycott.
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N.Y.’s Biggest Mall Borrowed Big and Now Can t Pay Destiny USA, the state’s largest mall, may not generate enough cash to keep running and pay its debts this year. Bloomberg | May 14, 2021
(Bloomberg) A sprawling shopping mall in Syracuse, New York, may be driven into one of the biggest municipal-bond defaults since the onset of the pandemic.
Already struggling before the lockdowns hammered retailers, Destiny USA, the state’s largest mall, said it doesn’t know if it will generate enough cash to keep running and pay its debts this year, raising doubts about whether it can continue as a business. Its owner, Pyramid Management Group, hired restructuring advisers and has sought a meeting with investors who hold about $285 million of municipal bonds that financed the project, according to a filing last month.