Bankrupt Lehman Brothers Holdings Inc.’s payments to advisers should be “reasonable, actual and necessary,” and the committee overseeing compensation and expenses should have power to object to monthly fee applications, according to a court filing by the fee committee.
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Mortgage Market Index for the week ended March 4 was 206, marginally higher than 203 in last week’s report. The index from Mortech Inc. and MortgageDaily.com was 245 during the same week last year. Behind the weekly improvement was a 4 percent increase in purchase activity, while refinance transactions slipped 1 percent.
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What a difference 10 months have made for HCA Inc. and its private-equity owners, KKR & Co., Bain Capital LLC and Bank of America Corp.
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SunTrust Banks Inc. found problems in 4,000 active foreclosure cases, the bank said in a regulatory filing. The problems were discovered during an internal review of its practices. But SunTrust noted that if only found “technical issues” in fewer than 15 percent of active cases.
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Citigroup Inc., the third-largest U.S. bank by assets, named Venu Krishnamurthy to head the high- net-worth and affluent segments, replacing Deborah Doyle McWhinney, who vacated the position last week.
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Radian Group Inc., the second-largest U.S. mortgage insurer, fell in New York trading as the firm said “uncertainty” over an eventual return to profit forced a writedown of tax assets, fueling a fourth-quarter loss.
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Foundation Financial Group executive vice president Mark W. Boyer has been promoted to chief executive officer of the company. iStar Financial Inc. said it promoted David DiStaso to chief financial officer. Connie Queralt was promoted by The Kislak Organization to director of accounting and human resources.
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Facebook Inc., owner of the world’s most popular social-networking site, raised $1.5 billion in a financing round led by Goldman Sachs Group Inc., less than the $2 billion it could have received.
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Monterey Capital Management Pte’s Japan-focused equity hedge fund gained 19 percent in 2010, more than double rivals’ returns, on investments in stocks including Skymark Airlines Inc. and consumer finance companies.
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A Milan prosecutor asked a court today to seize assets from banks including Citigroup Inc. and Deutsche Bank AG over the 2003 collapse of Parmalat SpA, Italy’s biggest dairy company.
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