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Large-scale lawsuits set to test Mirae Asset's capacity

Large-scale lawsuits set to test Mirae Asset s capacity ....

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Korean LPs to sue Mirae, NH over Las Vegas loan loss

The　Drew　Las　Vegas　(Courtesy　of　JW　Marriott)
South Korean institutional investors in the Drew Las Vegas development are preparing to file a lawsuit against two domestic brokerage firms, seeking compensation for the loss of their entire investment of 300 billion won ($265 million) in the long-stalled project.
In 2019, Mirae Asset Securities Co. and NH Investment & Securities Co. underwrote the junior mezzanine tranche of 300 billion won to fund the construction on the Las Vegas Strip, and sold it down to domestic institutional and retail investors.
The institutional investors include pension funds, mutual aid associations, Hyundai Motor Securities Co., Hyundai Motor Group’s foundation, the Korean casino operator Kangwon Land and the country’s major broadcasting companies. ....

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The 10 casinos with a world record

The 10 casinos with a world record
Published Thursday, Apr. 29, 2021, 10:17 am
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If you are looking for a list of the tallest, oldest, largest casinos in the world and other similar records, you have come to the right place. Below, we’re featuring the ten casinos that each stand out for their own reason after having set a world record. You can always visit them to play and have fun unless you prefer to play online casino from the comfort of your home. ....

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Q1 2021 Major US Hotel Sales Survey | By Daniel Lesser – Hospitality Net

Q1 2021 Major US Hotel Sales Survey
The spring season of 2021 has sparked optimism in the overall economy and hospitality industry as compared to this time last year.
By Daniel H. Lesser, President & CEO of LW Hospitality Advisors LLC (LWHA)
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Upon reading his obituary in the press, the American writer Samuel Clemens, known by his pen name Mark Twain, famously remarked,
The report of my death was an exaggeration. Although there is no question that the global pandemic has adversely impacted many, the world has not ended.
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While the risks of reinstated limitations on social activity and shelter-in-place orders remain, concerns surrounding the eectiveness of vaccines on existing and unknown variants, coupled with an anti-vaxxer movement, pose the biggest risks to ending the current pandemic. With that said, the spring season of 2021 has sparked optimism in the overall economy and hospitality industry as c ....

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Meritz Sec faces losses from $350 mn loan on NY condo

The　Centrale
South Korea s Meritz Securities Co. is at high risk of incurring losses from its $350 million lending on a luxury condominium tower in Manhattan, New York, after its developer has been several months behind on interest payments on the loan, according to investment banking sources on Apr. 5.
In February 2020, Meritz provided a $350 million loan to the developer of The Centrale, collateralized on the unsold units of the 63-story residential tower in Midtown East of Manhattan. The tower consists of 124 condo residences and retail space on the lower level. At the time of the investment, most of the condo units were unsold. ....

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