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In business real estate foreclosures starting to pile up again in nevada By Eli Segall���staff writer Nevada���s foreclosure rate remained one of the worst in the country last month as banks started the foreclosure process on a rising number of homes. One in every 320 housing units in Nevada had a foreclosure-related fil- ing in February, according to a new report from Irvine, Calif., research firm RealtyTrac. Filings include notices of default, scheduled auctions and bank repossessions. Nevada���s rate was down 14 percent from a year earlier but still more than double the national average. It also was the second-highest foreclosure rate nationwide last month for the fifth month in a row. According to RealtyTrac, Nevada���s ���foreclosure starts��� ��� filings that start the auction process ��� jumped more than 330 percent year-over-year to 1,995 in February, a 17-month high. Florida retained the dubious No. 1 spot for the sixth consecutive month in February, with one in every 282 housing units carrying a foreclosure filing. Nationally, one in every 849 housing units had a foreclosure filing last month, down 25 percent from a year earlier. courts state refuses to settle $30M lawsuit By Cy Ryan���staff writer CARSON CITY ��� The state Board of Finance refused this month to settle a $30 million lawsuit filed by Lehman Brothers Commercial Bank, which lost the state���s business when the company���s financial status was downgraded. Lehman contends the state of Nevada broke its contract when it stopped its business and investments with the bank. The board met for 25 minutes behind closed doors to discuss a suggestion by a settlement judge with the Nevada Supreme Court. ���We didn���t settle,��� said Gov. Brian Sandoval, the chairman of the board. ���There was no vote.��� Details of the proposed settlement were kept confidential, and the meeting was closed to the public on grounds that it was a discussion between an attorney and client. State Treasurer Kate Marshall said settlement discussions will continue, and the board will consider the issue again. District Court Judge James Wilson granted a summary judgement in favor of the state in the case, but his ruling is on appeal by Lehman. Wilson said Moody���s Investors Service downgraded Lehman to B3 in 2008. Marshall said Lehman filed for bankruptcy, and the state collected 33 cents on each dollar of $50 million invested. Marshall said Lehman���s rating was a junk bond status, and the state stopped giving the bank access to its business. Lehman maintains the state broke a contract and wants $30 million. Wilson said the Board of Finance and the State Treasurer���s Office ���lawfully terminated the agreement��� with Lehman and were ���entitled to cease all future deliveries of debt services monies.��� | 25 MARCH 2013 20130325_VI15_F.indd 15 | Re: Reinvent Recipe For Success From: Culinary Artist To: Culinary Empire With 20 restaurants in 8 states, it���s fair to say that award-winning celebrity chef Michael Mina has discovered the recipe for success. But while this culinary virtuoso perfects his world-famous lobster pot pie, Michael���s team at the Mina Group relies on the powerhouse legal counsel of Lewis and Roca to protect the company���s intellectual property rights. After all, it���s easier to open several new restaurants each year when you have some of the best lawyers looking out for you. LAS VEGAS RENO PHOENIX TUCSON ALBUQUERQUE SILICON VALLEy LRLAW.COM 15 3/21/13 2:22:26 PM