STRATEGIC HOTELS & RESORTS INC (BEE)

China’s Dajia Insurance Group convinced a Delaware judge to fast-track an August trial for its claim that Mirae Asset Global Investments Co. of South Korea used faulty legal pretexts to cancel a $5.8 billion purchase of 15 U.S. luxury hotels.

South Korea’s Mirae Asset Global Investments Co. has asked Anbang Insurance Group Co. for more time to close on its $5.8 billion purchase of a U.S. luxury hotel portfolio as the Covid-19 pandemic roils financial markets, according to people with knowledge of the matter.

Richard Faber, a former lieutenant to the U.K.’s billionaire Barclay twins, is fronting an investor group that’s competing for a luxury hotel portfolio owned by Anbang Insurance Group Co., people familiar with the matter said.

Anbang Insurance, the China-based owner of New York's Waldorf Astoria hotel, will be run by a committee of government officials as authorities in Beijing continue to crackdown on risky financial practices in the world's second-largest economy.