BofA investors plot challenge over pay out July 5, 2011 A GROUP of bondholders in Bank of America plan to challenge the lender’s $8.5bn (£5.2bn) settlement with holders in soured mortgage-backed securities. Eleven companies, known together as Walnut Place, filed papers in the New York Supreme Court in a bid to overturn the payment. They say they have “serious concerns about the secret, non-adversarial, and [...]
Strauss-Kahn pleads not guilty June 6, 2011 Former IMF chief Dominique Strauss-Kahn yesterday pleaded not guilty to charges he sexually assaulted a New York hotel maid. He was met at the courthouse by hotel workers chanting “shame on you”. Strauss-Kahn, 62, faces up to 25 years in prison if convicted on charges of attempted rape, sex abuse, a criminal sex act, unlawful [...]
Twins concede in Facebook legal action June 23, 2011 FACEBOOK yesterday tied up another loose end ahead of its expected $100bn initial public offering, with the Winklevoss twins ending their long-running legal dispute. The Olympic rowers – known as the “Winklevii” – have decided not to appeal to the Supreme Court a ruling upholding their $65m (£40m) settlement. The cash-and-stock agreement was intended to end [...]
BAT challenges plain pack cigarette laws December 1, 2011 British American Tobacco has become the second tobacco giant to launch legal action against Australian laws forcing tobacco products to be sold in plain packaging from next year, following the lead of Philip Morris. The laws, cleared by parliament, are being watched closely by governments considering similar moves in Europe, Canada and New Zealand. They [...]
Strauss-Kahn case begins June 5, 2011 FORMER IMF chief Dominique Strauss-Kahn will today plead not guilty to charges he tried to rape a New York hotel maid, an accusation that has wrecked his chance of becoming France’s next president. Strauss-Kahn, 62, is facing up to 25 years in prison if convicted on charges of a criminal sexual act, attempted rape, sex [...]
Talking horses… March 11, 2012 BE selective has always been my motto when it comes to choosing which of the various Cheltenham preview evenings to attend and I always give a wide berth to those panellists who continually sit on the fence. So, when I got a call telling me that four of the best informed judges in the game [...]
Crisis shows risk can’t be abolished July 27, 2011 IT is going to be a hot summer – and I’m not even talking about the weather. After a brief and irrational lull after last week’s pseudo-deal in the Eurozone, the global sovereign debt crisis is accelerating again, with the row over extending America’s debt ceiling becoming ever more farcical. Gold hit close to $1,630, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
Legal action dogs Tate & Lyle May 25, 2011 TATE & Lyle (T&L) will announce its annual results tomorrow against the backdrop of a £100m legal dispute. The conglomerate is embroiled in a complex court case with London-based firm Whitefox Technologies. The two firms are suing each other in a spat that could cost the giant in excess of £100m if it loses. There [...]