A local hotel wants church Group that rented a big block of rooms to pay for damage when a sprinkler malfunctioned because a customer allegedly put a t-shirt over it, while two companies battle over a non-compete clause.
When a loan goes bad, on purpose.
Sometimes a property owner defaults on purpose. Such is the case with Shamin Hotels.
Trading Day 6.17.10
Altria Group The company said it is registering 50 million shares of its common stock for its 2010 Performance Incentive Plan for certain employees. The company also said it is registering an additional 750,000 shares for its stock compensation plan for non-employee directors. Brink’s Co. Matthew Schumacher, the company’s controller, exercised options to acquire 3,674… Read more »
Local credit union may need a life line
Richmond is home to two of the lowest rated financial institutions in the state, according to bank and credit union ratings released last week. But of the 18 community banks headquartered in the Richmond area, four had 5-star superior ratings.
Distressed hotel changes brands
A new flag will rise above the Sheraton Richmond West later this month.
Loads of foreclosures this week, including an usually high number from Henrico and Chesterfield plus several homes in the higher price brackets.
First Capital Bank, what’s up your sleeve?
A local bank that tried last year to orchestrate a sizeable merger appears once again to be positioning itself for a transaction.
The Docket: Circuit Court Roundup for 6.14.10
A building owner wants money back from a renovation job it says was poorly done, and a local community bank wants $30,000 from a loan it made lent to a small business. Plus, an engineering firm wants $40,000 for work it says it performed and wasn’t paid for from a big developer.
Trading Day: SEC roundup for local public companies
First Capital Bancorp changes its articles to possibly sell more stock, while a Markel chairman buys more stock for a family trust. Plus bond news at Altria and Media General and stock awards at a handful of local companies.
Prospect finalizes liquidation plan
A year after one of Richmond’s biggest homebuilders filed for Chapter 11 Bankruptcy protection, most of its property has returned to the lenders, and the company has a final plan to finish liquidating. And now unsecured creditors know what they will be getting.