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EB-5 funds sue to stop foreclosure sale on failed HFZ tower project

first_img Email Address* Share via Shortlink Contact Orion Jones Email Address* Message* Message* EB-5foreclosureHFZ CapitalReal Estate Finance Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Tags Full Name* The entities suing say the property and their stake could still be saved. They contend a joint venture between HFZ and New York real estate mogul Kamran Hakim planned to inject $40 million into the project. That would cure the defaults and would fund 18 months of interest payments owed to Vanbarton, according to the suit. Hakim could not be reached for comment.The 400-year old Marble Collegiate Church contributed about $112 million in properties toward the joint venture with HFZ, according to the lawsuit. In exchange, the church — which runs a real estate arm called Collegiate Asset Management Corp. — would have received nearly $27 million in cash. It would also get 50 percent of the equity and a commitment that the HFZ-managed venture would build a fellowship hall and community facility.Israeli billionaire and diamond mogul Beny Steinmetz reportedly also has a loan on the project. In January, he was sentenced to 5 years in a Swiss prison for paying bribes to a public official in the West African country of Guinea in order to secure rights to an iron ore mine.The U.S. Immigration Fund, led by Nicholas Mastroianni, has been a prominent fundraiser for the EB-5 program, connecting foreign citizens with development projects. USIF has been the subject of several EB-5 lawsuits from investors. USIF has denied allegations of wrongdoing.Rich Bockmann contributed reporting.Contact Keith Larsen Suit alleges investor Kamran Hakim, at left, planned to inject $40 million to help save 29th and Fifth tower project. At right, HFZ’s Ziel Feldman. (Getty, HFZ)Entities acting on behalf of EB-5 funds are trying to stop a foreclosure sale that would wipe away a $60 million investment in a failed Manhattan tower project that HFZ Capital was to develop with a church.The three affiliates of EB-5 regional center U.S. Immigration Fund are suing the project’s mezzanine lender, Vanbarton Group. The lender provided HFZ with a $91 million loan to help finance the project. The lawsuit contends Vanbarton cannot foreclose on the West 29th Street property because it wrongfully obtained an interest in the property.The foreclosure sale is set for Friday; it would also wipe out HFZ and the church’s stake in the project.HFZ, which has been beset by financial troubles, had entered into a joint venture with Marble Collegiate Church to build a 34-story office tower designed by Bjarke Ingels on church property. HFZ enlisted a portion of funding through the EB-5 visa program. The investment was structured not as a loan but as a riskier preferred equity. In addition to defaulting on the Vanbarton debt, HFZ has also faced liens and lawsuits from subcontractors on the project.The three entities that filed suit in New York Supreme Court on Thursday also allege Vanbarton is trying to commence the sale without approvals from the state attorney general as required by law.Vanbarton threatened legal action against an affiliate of the church, according to the filing, and possibly individual ministers, deacons and elders, if the church raised these concerns about the sale.Vanbarton did not immediately return a request for comment. Ziel Feldman-led HFZ and its attorney did not provide a comment. A lawyer for the entities that filed suit did not comment. Marble Collegiate did not return a call for comment.Read moreZiel Feldman, Nir Meir accused of fraud over $30M loan Foreclosures tied to 4 HFZ condo buildings halted, for now EB-5 is back in the doghouselast_img read more

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Report: Germany delays MKS 180 contract award

first_img View post tag: German Navy October 11, 2016 Authorities Back to overview,Home naval-today Report: Germany delays MKS 180 contract award View post tag: MKS 180center_img Report: Germany delays MKS 180 contract award A 4 billion euro (approx. $4.5B) contract for the construction of the German Navy’s new MKS 180 (Mehrzweckkampfschiff) ship has been delayed by six month, news agency Reuters has reported.The German defense ministry is postponing the contract to ensure high-quality standards are met, the report said.This means that the final agreement can be expected to be made by the end of 2017.Acquisition of the Multi-role Combat Ship 180 (Mehrzweckkampfschiff MKS 180) – previously designated as ‘Korvette 131’ – is one of the biggest German defense projects. Three teams made up of two companies each are in the race for the contract.German Naval Yards Kiel has teamed up with British BAE Systems in a bid to steal the contract from the ThyssenKrupp Marine Systems/Lürssen duo and the Dutch-German team made up of Damen and the Blohm+Voss shipyard.Four ships are planned to be built with the first one entering service in 2023 under a planned budget of €3.9 billion (US$4.3 billion).Operational requirements initially set the number of ships to be built at 6, but financial constraints forced Germany to cut the number to four. According to the German Navy, the decision whether to build boats five and six will be made at a later point in time. Share this articlelast_img read more

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“READERS FORUM” JUNE 10, 2017

first_imgWhats on your mind today?Todays “READERS POLL” question is: Are you pleased with the new layout and design of the City County Observer?We urge you to take time and click the section we have reserved for the daily recaps of the activities of our local Law Enforcement professionals. This section is located on the upper right side of our publication.If you would like to advertise or submit and article in the CCO please contact us City-County [email protected] LinkEmailSharelast_img read more

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Chip Miller Surf Fest in Ocean City Set for Saturday

first_imgThe surf at Seventh Street in Ocean City on Wednesday (July 9). The beach will be home to the Chip Miller Surf Fest on July 19.The Chip Miller Charitable Foundation (CMCF) will host the 11th annual Surf Fest on Saturday, July 19 at the Seventh Street Surfing Beach in Ocean City, N.J. Surf Fest is a community-wide surf contest to benefit the Chip Miller Charitable Foundation, an organization committed to raising awareness of amyloidosis, helping people afflicted with this disease, and supporting research facilities.The forecast calls for small surf with light easterly winds that should warm up the ocean temperature, which measured 64 degrees on Friday morning.The Surf Fest and Chip Miller Charitable Foundation were created in memory of Chip Miller in 2004. Just a few short months after Chip was diagnosed with Amyloidosis, the world lost an incredibly special person. Had Chip and his doctors been aware of the symptoms of the disease when they first presented, he might still be with us today. That is why his family and friends founded the Chip Miller Charitable Foundation to empower people with the knowledge and understanding of Amyloidosis for earlier detection, ensuring a better quality of life for those afflicted with the disease and to help science find the cures.Chip Miller raised his family in Ocean City, and the community has supported the foundation from its inception. Ocean City is where Chip’s son Lance and best friend, Nick Bricker, grew up and learned to surf.“Chip Miller was a second father figure for me growing up and helped me in so many ways throughout my childhood,” said Bricker, event organizer and CMCF board member. “Planning a surfing event to raise money and awareness for the deadly disease that took his life is how I chose to give back and honor his memory.”Since its inception, this event has raised more than $100,000 for the Chip Miller Charitable Foundation and more importantly, raised awareness about a little known but deadly disease called Amyloidosis. Last summer, Bricker introduced a new event to benefit the Chip Miller Charitable Foundation, the Clubs and Cars Golf Classic. Due to its success, the second annual golf event will take place on Thursday, July 17 at Stone Harbor Country Club.“Nick has a really big heart and has made a significant contribution to the foundation in my father’s name,” said Lance Miller, CMCF Board President. “Our family is so grateful for the outpouring of support from friends.More than 150 surfers come from near and far to participate, and the event has attracted celebrities through the years, but what the event is really about is family bonds and memories.”Registration for this year’s Surf Fest will be PRE REGISTRATION ONLY available online at www.chipmiller.org and mail-in registration forms will be available at local Surf Shops, as well as on the website. Check-in will begin at 7:00 AM on Saturday, July 19th on the 7th Street Beach. A ‘first come-first serve’ alternate list will be started when registration begins for interested participants to take the place of any registered ‘no shows.’ The registration fee is $35 for the first division entered, and $10 for each additional division.A Surf Fest After Party will be held at 5:30 p.m at Greate Bay Country Club in Somers Point, NJ. The After Party will include dinner, drink specials, live entertainment, surf movies, a silent auction and raffle. Entry is $35. A Surf Fest & After Party combo ticket is also available for $65.For more information about the Surf Fest and After Party or Clubs and Cars Golf Classic, visit www.chipmiller.org or contact Nick Bricker at [email protected] or 609-231-1562.— News release from the Chip Miller Charitable Foundationlast_img read more

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Taking a Thursday tour

first_imgThis summer, the W.E.B. Du Bois Institute for African and African American Research is offering tours of its art collection. Led at noon on Thursdays by Sheldon Cheek, senior curatorial associate for the Image of the Black in Western Art Project and Photo Archive, the tour includes the traveling exhibit “Queloides,” now on display in the Rudenstine Gallery.Sheldon Cheek, senior curatorial associate for the Image of the Black in Western Art Project and Photo Archive, leads a tour through the Rudenstine Gallery, which features the traveling exhibit “Queloides.”Featuring works by prominent Afro-Cuban artists, “Queloides” draws its title from the Spanish word for scar. The exhibit examines the persistence of racism and racial discrimination in contemporary Cuba and elsewhere in the world.“These artworks show how the age-old social issue of racism is coming more to the fore between Afro-Cubans and the Cuban government, as well as the people of more Hispanic heritage,” Cheek said. “And yet, not much has been said about it. It’s an issue that has largely been left undiscussed, particularly outside Havana, where a lot of tourists don’t go.”Some of the pieces, such as “Blood and Honor” by Armando Mariño, mine imagery from American history and culture. “Reusing these images shows how racial aspects of marginalized people are represented by the mainstream culture in books, literature, and published illustrations,” Cheek said. “What’s interesting is that these images were used by both sides, both abolitionists and proponents of slavery, for their own purposes. It’s a very nuanced thing, and speaks to the power of these images.A detail of “Ecosystem” by Douglas Perez is among the pieces on exhibit.“The art really addresses the mistreatment of people who are on the wrong side of colonialism. Ultimately the artist is asking, does this still happen in Cuba today? These artists are saying yes, there still is suppression and a power elite that excludes other people who are considered problematic,” he added.Featuring works by Maria Magdalena Campos-Pons, Douglas Perez, Alexis Esquivel, and Manuel Arenas, the exhibit has toured Havana, Pittsburgh, and New York City, and will be on display at the Rudenstine Gallery through Aug. 31. In addition to “Queloides,” the tour also examines works by Isaac Julien, Romare Bearden, Lyle Ashton-Harris, Suesan Stovall, Charles White, and Hale Woodruff, as well as an extensive assortment of black film posters.Works by Maria Magdalena Campos-Pons are part of the exhibit, which has toured Havana, Pittsburgh, and New York City, and will be on display at the Rudenstine Gallery through Aug. 31.“It’s all about race, humanity, and how people treat one another, and representing those dynamics in art. It’s also about power — who has it and who doesn’t have it,” Cheek said. “It’s highly subjective, but very powerful.”The Neil L. and Angelica Zander Rudenstine Gallery is located at 104 Mt. Auburn St., 3R, Cambridge, Mass.last_img read more

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Global affairs graduate student receives amnesty award for work in Uganda

first_imgEditor’s Note: An earlier version of this article misstated the university where Nyanjura graduated. She graduated from Kyambogo University, not Campbell University.Tags: Amnesty International, Keough School of Global Affairs, Uganda When Victoria Nyanjura noticed a hole in the Women’s Advocacy Network in Uganda, she knew she had to act.A graduate student in Notre Dame’s Keough School of Global Affairs, Nyanjura is a Ugandan native who is a survivor of captivity. At 14 years old, she was abducted in Aboke, Uganda, by the paramilitary group Lord’s Resistance Army. She was a prisoner for eight years before escaping.Years later, Nyanjura graduated from Kyambogo University in Kampala, Uganda as an undergraduate student. She then traveled back to Uganda, where she realized economic empowerment was missing in a system meant to assist women who had been previously enslaved.As a response, in 2017 she established Women in Action for Women (WAW), an organization focused on offering women vocational skills and business training.“I realized this is an area that some of us need to think deeper, and it needs to really be talked about and explained because people need to understand the importance of building these skills of individuals that enable them to go independent and be able to provide for themselves,” Nyanjura said. As was recently made clear, her effort did not go unnoticed.On Feb. 5, Nyanjura was announced as one of two recipients of the 2019 Ginetta Sagan Award for her work empowering women in Uganda. The award, which also grants the winner $20,000, is given annually to recognize and assist “women who are working to protect the liberty and lives of women and children in areas where human rights violations are widespread,” according to Amnesty International USA.“I was blessed to work on and to coordinate the activities of the Women’s Advocacy Network,” Nyanjura said. “Over the years … I kept on seeing something that was missing in all that was being done [and that] was the component of economic empowerment.” WAW stresses meeting women where they are and making opportunities accessible, Nyanjura said.“This issue requires doing something that works for the women, so they don’t have to think of the international market,” she said. “The market should come their way, and it should focus on what they can do within their communities where they are located and they should be able to access markets by themselves.”Nyanjura found her way to Notre Dame to build her skills and networking in hopes of better helping her community. “After college, I went and started working, but I felt that I really needed to build my capacity in a lot of things in terms of writing and in terms of understanding theories in peacebuilding and comparing what has happened to other places,” Nyanjura said.The Kroc Institute for International Peace Studies offered her that opportunity.Nyanjura will graduate in May with a master in Global Affairs and a concentration in International Peace Studies. She plans to return to Uganda to further her foundation’s reach. “Right now I am very sure that when I get back, I [will be] able to do more for WAW and at the same time, I will have the ability to continue knocking down doors and seeing how we can partner with individuals who are interested in supporting a common cause,” Nyanjura said. One of Nyanjura’s biggest obstacles has been having the courage to tell her story. Even so, she says receiving the International Amnesty award has been one step forward in having her voice heard.“I think that telling is hard right now and continuing to advocate, to really make people understand that we have unique challenges that need to be tackled in specific ways,” she said. “[The award] has motivated me to continue telling this story.”last_img read more

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New York Approved For Extra $300 In Weekly Unemployment Benefits

first_imgPexels Stock Image.WASHINGTON — New York State has been approved for funding to give unemployed people an additional $300 on top of their unemployment benefits.FEMA Administrator Pete Gaynor approved New York for a FEMA grant under the Lost Wages Assistance program.The grant funding will allow New York to provide additional unemployment due to COVID-19.FEMA will work with New York Governor Andrew M. Cuomo to implement a system to make this funding available to New York residents. On August 8, President Trump made available up to $44 billion from FEMA’s Disaster Relief Fund to provide financial assistance to Americans who have lost wages due to the COVID-19 pandemic. The state of New York agreed to administer a lost wages program for its citizens who are unemployed due to COVID-19.Also, Pennsylvania will get nearly $1.5 billion to provide an extra $300 per week to eligible unemployed workers.To qualify for the extra $300, the program requires that eligible individuals must receive at least $100 per week in benefits from:Regular Unemployment Compensation (UC);Pandemic Emergency Unemployment Compensation (PEUC);Pandemic Unemployment Assistance (PUA);Extended Benefits (EB);Short-Time Compensation (STC) or Shared Work; andTrade Readjustment Allowance (TRA).Individuals must also self-certify that they are unemployed or partially unemployed due to disruptions caused by COVID-19.Payments will be made to eligible claimants retroactively from August 1. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window),This will help families I am fortunate to have my job but so many are suffering thank you President Trumplast_img read more

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Colombian security forces seize 2,200 kilograms of cocaine

first_imgIn September, soldiers with the Colombian National Army eradicated 215,000 coca plants it suspected belonged to the terrorist group the Revolutionary Armed Forces of Colombia (FARC) in the Department of Cauca. The soldiers, who were from Task Force Apollo, carried out the operation in the village of Las Brisas in the municipality of Buenos Aires. Military authorities suspect the coca, which is the main ingredient used to produce cocaine, was being cultivated by the FARC’s Miller Perdomo Column, according to the Army’s Third Division. The Clan Úsuga was dealt a severe blow in the past month as cooperation between Colombia’s Central Directorate of the Judicial Police and Intelligence (DIJIN) and the U.S. Coast Guard led to a large seizure of cocaine and the arrests of multiple suspects. Those combined forces seized 2,200 kilograms of cocaine, arrested 12 suspects and confiscated three vessels during operations between late September and late October. In August, the Coast Guard Station Santa Marta and the Magdalena Technical Investigation Corps Prosecutors Office (CTI) seized 40 kilograms of cocaine hidden in a shipment of coal on a Liberian-flagged ship in the port municipality of Ciénaga. The vessel, the “Ping May,” had arrived from England and was bound for the Netherlands when agents found 40 packages of cocaine. That seizure followed a string of successes by security forces on land. By Dialogo November 04, 2014 Army troops also dismantled seven cocaine-producing laboratories and seized nearly 4,000 kilograms of cocaine in early September. Soldiers found the laboratories in the southern department of Caquetá; they housed hundreds of chemicals and equipment used to turn coca into cocaine. No arrests were made in any of the operations. It was the second time in less than a month that security forces found cocaine on a ship transporting coal in the Department of Magdalena. Coast Guard and CTI agents seized 246 kilograms of the narcotic from a Panamanian-flagged vessel that had arrived from Canada and was anchored at Puerto Drummond in Ciénaga. The ship also was destined for the Netherlands. It was the second time in less than a month that security forces found cocaine on a ship transporting coal in the Department of Magdalena. Coast Guard and CTI agents seized 246 kilograms of the narcotic from a Panamanian-flagged vessel that had arrived from Canada and was anchored at Puerto Drummond in Ciénaga. The ship also was destined for the Netherlands. And in June, Colombian counter-narcotics police destroyed two cocaine laboratories and seized more than 810 kilograms of cocaine worth more than $1.5 million (USD) which allegedly belonged to the FARC’s Jacobo Arenas Column, in the Cauca villages of Agua Blanca and Comedulce. Officers also confiscated 600 kilograms of calcium chloride, a solution used to make cocaine. Drug traffickers were transporting cocaine to Colombia when the DIJIN and the U.S. Coast Guard seized the shipment in international waters near Costa Rica. The DIJIN suspects that Clan Úsuga, a major Colombian drug trafficking organization, was involved in the shipment. In addition to transporting its own cocaine, the Clan Úsuga also transports the cocaine of other Colombian drug trafficking groups for a fee. Drug traffickers were transporting cocaine to Colombia when the DIJIN and the U.S. Coast Guard seized the shipment in international waters near Costa Rica. The DIJIN suspects that Clan Úsuga, a major Colombian drug trafficking organization, was involved in the shipment. In addition to transporting its own cocaine, the Clan Úsuga also transports the cocaine of other Colombian drug trafficking groups for a fee. That seizure followed a string of successes by security forces on land. Army troops also dismantled seven cocaine-producing laboratories and seized nearly 4,000 kilograms of cocaine in early September. Soldiers found the laboratories in the southern department of Caquetá; they housed hundreds of chemicals and equipment used to turn coca into cocaine. No arrests were made in any of the operations. In September, soldiers with the Colombian National Army eradicated 215,000 coca plants it suspected belonged to the terrorist group the Revolutionary Armed Forces of Colombia (FARC) in the Department of Cauca. The soldiers, who were from Task Force Apollo, carried out the operation in the village of Las Brisas in the municipality of Buenos Aires. Military authorities suspect the coca, which is the main ingredient used to produce cocaine, was being cultivated by the FARC’s Miller Perdomo Column, according to the Army’s Third Division. The Clan Úsuga was dealt a severe blow in the past month as cooperation between Colombia’s Central Directorate of the Judicial Police and Intelligence (DIJIN) and the U.S. Coast Guard led to a large seizure of cocaine and the arrests of multiple suspects. Those combined forces seized 2,200 kilograms of cocaine, arrested 12 suspects and confiscated three vessels during operations between late September and late October. In August, the Coast Guard Station Santa Marta and the Magdalena Technical Investigation Corps Prosecutors Office (CTI) seized 40 kilograms of cocaine hidden in a shipment of coal on a Liberian-flagged ship in the port municipality of Ciénaga. The vessel, the “Ping May,” had arrived from England and was bound for the Netherlands when agents found 40 packages of cocaine. And in June, Colombian counter-narcotics police destroyed two cocaine laboratories and seized more than 810 kilograms of cocaine worth more than $1.5 million (USD) which allegedly belonged to the FARC’s Jacobo Arenas Column, in the Cauca villages of Agua Blanca and Comedulce. Officers also confiscated 600 kilograms of calcium chloride, a solution used to make cocaine.last_img read more

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Westhampton Woman Dead After Being Pinned Under Car

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 50-year-old Westhampton woman died after being pinned under her vehicle in Center Moriches over the weekend.Suffolk County police said Jennifer Feuerman was found lying on the ground in front of a home on Bowditch Lane at 7:12 p.m. Saturday.Investigators believe that she had exited her Mercedes while it was still running and in gear when the car backed over her and pinned her under the driver’s side door, authorities said.She was pronounced dead at the scene.Seventh Squad detectives impounded the vehicle, are continuing the investigation and ask anyone who may have witnessed this incident to call them at 631-852-8752.last_img read more

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Arsenal boss Mikel Arteta delivers transfer update on deadline day

first_img Coral BarryFriday 31 Jan 2020 2:38 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.4kShares Advertisement Arteta previews Arsenal’s trip to BurnleyTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 4:31FullscreenArteta previews Arsenal’s trip to Burnleyhttps://metro.co.uk/video/arteta-previews-arsenals-trip-burnley-2100234/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Mikel Arteta played down expectations of a further arrival at Arsenal following the signing of Cedric Soares.The full-back is Arsenal’s second signing of the January window and there were rumours the Gunners were targeting a third transfer.But with the close of the window fast approaching, Arteta was asked if there would be any more incomings on deadline day.‘I’d like to say [no] but you never know,’ he said.ADVERTISEMENT‘We’ve been trying to be active in the market. We found two players who can be useful and we are happy.’Soares was announced on Friday morning and joins fellow new boy Pablo Mari in the Arsenal squad. Arsenal boss Mikel Arteta delivers transfer update on deadline day Soares joined on loan from Southampton (Picture: Getty)Like Mari, Soares joins Arsenal on a loan deal with a view to a permanent deal at the end of the season.AdvertisementAdvertisementArsenal play Burnley on Sunday and although Mari is eligible to play, Soares is currently nursing a foot injury.‘He was being assessed yesterday and we will have more results today but he has a little issue and I don’t think he will be available to play,’ Arteta said in his pre-match press conference.Arsenal’s efforts to sign players this month have been hindered by limited transfer funds, however Arteta has managed to convince Granit Xhaka and Dani Ceballos to snub moves away from the club.MORE: Martin Keown rates Arsenal’s deadline day deal for Cedric SoaresMORE: Unai Emery slams Arsenal fans and rates Mikel Arteta’s start as manager Comment Advertisementlast_img read more