As it hovers in Chapter 11 bankruptcy protection, a local timeshare and resort development company is close to settling a longstanding legal dispute with the estate of a deceased Richmond attorney. And if approved, the agreement could end with the sale of the firm’s resort in the Bahamas and a windfall inheritance for two local churches.
A busy week for local banks as one opens its newest branch and another clears one of the final hurdles in its latest acquisition. And a local tobacco company must pay a $57 million fine related to some of its European operations.
A local firm works a $1B deal. Transactions closed by Harris Williams, BB&T Capital Markets, Matrix Capital Markets and others. Plus local deals in banking, insurance and booze.
Armed with another big pool of money from a New York private equity firm, a fast growing Richmond insurance brokerage firm last month closed its 10th acquisition in three years.
A $15,000 a month consulting gig for the former president of a local Fortune 500. Two members of the Gottwald family increase their stake in a Richmond firm. And a Glen Allen bank fully buys its way out of TARP.
A Richmond-based company which has developed a resort in the Bahamas, filed for bankruptcy earlier this week. It owes millions to several local organizations, and its total debts could add up to as much as $50 million.
Henrico Federal Credit Union is spreading out its home base with the purchase of a former medical office.
The growing local bank has just one final step to clear before it can seal the deal on its latest acquisition.
The usual gang of companies represented the Richmond market in the latest Fortune 500 list, released Monday by Fortune magazine.
Feeling confident after a $50 million capital raise, a local bank has lined up an acquisition in Hampton Roads. And it’s the second purchase announced by an area bank in recent weeks.
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