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CenterPoint developing pair of million-square-foot spec facilities at its intermodal center in Joliet rejournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rejournals.com Daily Mail and Mail on Sunday newspapers.
The largest securities firm in the State put itself up for sale in March in an effort to rebuild trust in the business and address concerns about former executives involved in the 2014 bond deal remaining as major shareholders. Investment bank Rothchild is handling the process.
The Central Bank fined Davy â¬4.1 million that month, saying it breached market rules by failing to identify whether a conflict of interest existed as 16 employees bought junior bonds in Anglo Irish Bank from a client in November 2014 without disclosing that they were the buyers. The regulator also found that Davy kept its own compliance officials in the dark on the deal.
3501 Brandon Road in Joliet, a spec development in the CenterPoint Intermodal Center.
Local leaders of top industrial developers haven’t had much of a break in recent months as interest in Chicago-area industrial continues to reach new heights. And it’s not all pandemic-related upticks in e-commerce though, that’s certainly a big part of the story. Despite the disruption the pandemic caused in 2020, this year is already shaping up to be a busy one for builders, brokers and industrial tenants.
But where are the big industrial developers building? What are some of the challenges they’re facing right now? And how does Chicago stack up in a national portfolio of assets?
Thirteen of the members of the Davy-16 group of employees who were involved in a 2014 Anglo Irish Bank bond trade at the heart of a Central Bank fine and reprimand for the firm in March were named in the High Court on Monday.
The 13 have been joined as defendants alongside Davy in a case taken by Belfast developer Patrick Kearney, who was on the other side of the trade. Mr Kearney is suing for for damages and aggravated damages, alleging fraudulent misrepresentation, concealment and breach of contract.
He has also alleged that Davy made a windfall profit of about â¬25 million, and deprived him and his company of the best price when it sold the bond on his behalf.