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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Real EstateProperty

A Woman Who Prevented Katy Perry From Buying a Convent Must Pay $5 Million

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Jamie Ducharme
Jamie Ducharme
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Jamie Ducharme
Jamie Ducharme
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November 18, 2017, 11:16 AM ET
Katy Perry "Witness: The Tour" - New York
NEW YORK, NY - OCTOBER 06: Katy Perry performs onstage during her "Witness: The Tour" at Madison Square Garden on October 6, 2017 in New York City. (Photo by Kevin Mazur/Getty Images for Rogers and Cowan)Kevin Mazur Getty Images for Rogers and Cowan
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Katy Perry will walk away from a years-long real estate squabble $1.57 million richer, after a jury decided a California businesswoman intentionally interfered with the pop star’s plans to buy a Los Angeles property that was once a convent.

Perry’s $14.5 million bid for the 8-acre site of a former Sisters of the Most Holy and Immaculate Heart of the Blessed Virgin Mary convent in Los Angeles’ Los Feliz neighborhood had been approved by Los Angeles’ archbishop, the Associated Press reports.

Perry planned to move into the main building and relocate a house of prayer on the property still used by priests, but her plans were complicated when Silver Lake businesswoman Dana Hollister met with two of the five nuns still living on the property — who did not want to sell the land to Perry — in an attempt to purchase the property herself, according to the report.

The sale was voided earlier this year by a judge who said the archdiocese, not the nuns, had the right to sell the plot. And on Friday, AP reports, a jury decided Hollister should pay Perry $1.57 million and the archdiocese $3.47 million to make up for legal fees and other costs incurred as a result of her purchase attempt.

In court, Hollister’s lawyer said she thought she had the proper authorization and was not trying to cause harm, according to AP.

Hollister could potentially also have to pay out punitive damages in December, when the trial moves into its next phase. The property sale will not be finalized until the Los Angeles archdiocese is granted approval from the Vatican, according to the report.

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