Hudson Yards EB-5 investors demand inspection of developer’s financial records

Written by GCBI Team Posted on July 31, 2020 | Updated on July 31, 2020 | 1 min read

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􏰙􏰢􏰋􏰒􏰏􏰐Fearing a “perpetual state of non-payment,” Chinese investors, led by the always-quotable lawyer Doug Litowitz, are demanding developer Related Companies share its financial records. The developer of the largest EB-5 project ever halted discretionary payments to investors in June due to COVID-19. Related is enduring many troubles at the moment, including the departure of their Hudson Yards anchor tenant, Neiman Marcus.

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USCIS consolidates discretionary analysis policy — how it applies to EB-5
- Written by GCBI Team | Posted on July 23, 2020 | 3 min read
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Is USCIS ‘making up’ processing time estimates to deter lawsuits and influence behaviour?
- Written by GCBI Team | Posted on July 23, 2020 | 1 min read
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Hyatt still building hotels during crisis & looking at alternative capital — possibly EB-5
- Written by GCBI Team | Posted on July 23, 2020 | 1 min read
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Nassau Coliseum operator issued notice of default — can EB-5 lending group come to the rescue?
- Written by GCBI Team | Posted on July 23, 2020 | 1 min read
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Quiros surprises everyone — including co-defendants — with plan to plead guilty in EB-5 fraud case
- Written by GCBI Team | Posted on July 17, 2020 | 3 min read
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Hong Kong is a top EB-5 market — with one in three residents looking to emigrate
- Written by GCBI Team | Posted on July 17, 2020 | 3 min read
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Failed New York Wheel tries to roll again with the help of EB-5
- Written by GCBI Team | Posted on July 17, 2020 | 1 min read
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My lawyer doesn’t respond right away to my messages — do I really need her?
- Written by GCBI Team | Posted on July 17, 2020 | 1 min read
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With India now ‘current’ what can be done for China and Vietnam?
- Written by GCBI Team | Posted on July 17, 2020 | 1 min read
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USCIS extends response timelines for certain requests & notices
- Written by | Posted on July 9, 2020 | 1 min read
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H-1B visa ban drives renewed Indian interest in EB-5
- Written by GCBI Team | Posted on July 9, 2020 | 1 min read
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$1.8 billion LA project, backed by $450 million of EB-5 money, faces huge questions due to pandemic
- Written by GCBI Team | Posted on July 9, 2020 | 2 min read
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FY2019 Q1 & Q3 EB-5 I-526 filings: India takes top spot from China, new markets emerge
- Written by GCBI Team | Posted on July 9, 2020 | 3 min read
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Legal takeaways from recent Supreme Court disgorgement decision
- Written by | Posted on July 9, 2020 | 1 min read
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Jay Peak’s receivership expenses now exceed $8 million; pandemic is delaying the sale of the ski resort
- Written by | Posted on July 9, 2020 | 1 min read
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USCIS publishes EB-5 modernization Q&A with new TEA guidance
- Written by | Posted on March 18, 2020 | 5 min read
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U.S. Hispanic Chamber of Commerce joins fight for EB-5 reform & long-term reauthorization
- Written by GCBI Team | Posted on July 1, 2020 | 1 min read
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Chinese investor claims conflict of interest and sues attorney who represented him as well as investment company
- Written by GCBI Team | Posted on July 1, 2020 | 1 min read
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Supreme Court: South Dakota owes nothing to EB-5 investors who sank money into now bankrupt meat plant
- Written by GCBI Team | Posted on July 1, 2020 | 1 min read
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USCIS delivers on promise of improved EB-5 processing: Q2 FY2020 I-526 output doubles Q1 numbers
- Written by GCBI Team | Posted on June 25, 2020 | 4 min read
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India’s ‘Current’ Visa Bulletin status will benefit EB-5 I-526 petitioners living in the U.S.
- Written by GCBI Team | Posted on June 25, 2020 | 1 min read
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Supreme Court rules to allow disgorgement awards for securities fraud
- Written by GCBI Team | Posted on June 25, 2020 | 1 min read
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Woman accused of $21.6 million Coachella EB-5 scam — she sent investors fake photos of construction that never happened
- Written by GCBI Team | Posted on June 25, 2020 | 1 min read
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Florida bank & EB-5 hotel developer deny role in $21-million investor fraud
- Written by GCBI Team | Posted on June 25, 2020 | 1 min read
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Judge deny’s motion by Quiros to dismiss EB-5 fraud charges because of email confidentiality
- Written by | Posted on June 25, 2020 | 1 min read
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Oppenheim speech: EB-5 could lose then gain visas; India is ‘current’ and may not face retrogression ‘in the foreseeable future’
- Written by GCBI Team | Posted on June 18, 2020 | 3 min read
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Hudson Yards, largest private U.S. development ever, stops distributions to investors because of pandemic
- Written by GCBI Team | Posted on June 18, 2020 | 1 min read
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IIUSA president wants Congress to award all 10,000 EB-5 visas to investors — to generate $9 billion or more each year
- Written by GCBI Team | Posted on June 18, 2020 | 1 min read
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House Representatives say EB-5 is “laudable” but want investigation of Chinese “abuse”
- Written by GCBI Team | Posted on June 18, 2020 | 1 min read
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Judge reprimands attorneys on both sides of slow-moving EB-5 lawsuit
- Written by GCBI Team | Posted on June 10, 2020 | 1 min read
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Judge fines developer of failed EB-5 project in Chicago $18,000 — and counting — for missing deadline to explain missing investor capital
- Written by GCBI Team | Posted on June 10, 2020 | 1 min read
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How to read the Visa Bulletin: lessons on an EB-5 process that is not always sequential
- Written by GCBI Team | Posted on June 10, 2020 | 1 min read
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Re-elected IIUSA president Kraft has high hopes: long-term EB-5 reauthorization & the elimination of derivatives towards 10,000 quota
- Written by GCBI Team | Posted on June 4, 2020 | 3 min read
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Past EB-5 visa recipient, a fugitive for 5 years, is extradited to Los Angeles
- Written by | Posted on June 4, 2020 | 5 min read
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Canadians who invested in EB-5, and later received Green Cards by other means, file lawsuit
- Written by | Posted on June 4, 2020 | 5 min read
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Jay Peak sale delayed indefinitely due to pandemic
- Written by | Posted on June 4, 2020 | 5 min read
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USCIS to reopen to the public as of June 4
- Written by | Posted on June 4, 2020 | 5 min read
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Chicago lawyer who sold EB-5 investments denied in bid to dismiss SEC fraud lawsuit
- Written by | Posted on May 27, 2020 | 3 min read
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EB-5 has been ‘integral to jump-starting’ one of the biggest development projects in New Orleans history
- Written by | Posted on May 27, 2020 | 2 min read
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Former EB-5 investor alleges regional center paid secret kickbacks to Chinese firm that sold ‘due diligence’ to investors
- Written by | Posted on May 27, 2020 | 1 min read
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June Visa Bulletin: India advances 2 months, continues major push forward since October 2019
- Written by | Posted on May 27, 2020 | 1 min read
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Indians looking for their best university options often look to EB-5
- Written by | Posted on May 27, 2020 | 1 min read
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Industry leaders comment on senators’ letter to Trump: it’s both an ‘opportunity’ and ‘illogical’
- Posted on May 13, 2020 | 5 min read
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4 senators write letter to Trump asking to suspend new guest worker visas — and, with no rationale, EB-5
- Written by GCBI Team | Posted on May 13, 2020 | 2 min read
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EB-5 needs to improve its PR — and USCIS needs to remember the program isn’t just about immigration but job creation
- Posted on May 13, 2020 | 5 min read
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