Law firms seek help to pay negligence claims September 22, 2010 THE number of law firms looking for financial assistance to help cover professional indemnity (PI) premiums has risen dramatically, after a staggering rise in negligence claims in the High Court and the loss of a leading insurer. Independent financial provider Syscap said it has already received requests from 427 law firms seeking financial cover to [...]
Reds expect legal win to end Lim hope October 11, 2010 LIVERPOOL will stride into today’s potentially seismic High Court hearing confident their £300m deal with New England Sports Ventures is watertight, despite talk of a rival bid from Asian billionaire Peter Lim. Singapore-based Lim, whose initial bid was snubbed in favour of NESV’s offer, made it known yesterday that he has not given up on [...]
Credit Agricole accused of fraud by sub-prime product investors October 24, 2010 CREDIT Agricole has been accused of fraud in the United States by investors in the bank’s sub-prime mortgage-backed securities. Several firms under the Jersey-based Loreley name brought a case in a New York state court last week over three collateralised debt obligations (CDOs) named Orion 2006-1, Pyxis 2006-1, and Millstone IV, which they claim were [...]
Dresdner bankers set for bonus case March 8, 2011 COMMERZBANK faces a high-profile lawsuit from 104 of its investment bankers over a bonus dispute, after the Court of Appeal yesterday rejected the bank’s request to dismiss the case. Current and former bankers, who worked for Dresdner Kleinwort before Commerzbank took it over in 2009, are suing to recover €52m (£44.7m) in bonus payments from [...]
Dresdner bankers set for bonus case March 8, 2011 COMMERZBANK faces a high-profile lawsuit from 104 of its investment bankers over a bonus dispute, after the Court of Appeal yesterday rejected the bank’s request to dismiss the case. Current and former bankers, who worked for Dresdner Kleinwort before Commerzbank took it over in 2009, are suing to recover €52m (£44.7m) in bonus payments from [...]
NEW FUNDS PLAN FOR CRISIS-HIT IRELAND November 29, 2010 IRELAND may have accepted an €85bn handout to keep it afloat, but why stop there? The ever-popular Powers That Be in Ireland seem to have come up with a novel solution to the country’s solvency issues. An advert has appeared on Ireland’s biggest property website, the appropriately named daft.ie, offering the Republic of Ireland for [...]
Rajaratnam’s lawyer says information was public March 16, 2011 ACCUSED hedge fund manager Raj Rajaratnam did not get secrets about Advanced Micro Devices and eBay from a former high-placed friend because the information was already public, his lawyer argued at his trial yesterday. In heated exchanges that came close to shouting in the biggest Wall Street insider trading trial in decades, lawyer John Dowd [...]
Fresh twist as billionaire Lim attempts to gazump NESV with £320m offer October 12, 2010 ASIAN billionaire Peter Lim relaunched his bid to buy Liverpool yesterday by making a second, improved offer of £320m for the Premier League club. The bid is bigger than that of New England Sports Ventures, who have signed a deal with Liverpool’s board, pending legal challenges. Lim’s proposal also comes with an extra £40m transfer [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 26, 2011 FINANCIAL TIMES EUROPE TELECOM GROUPS TARGET GOOGLE Leading European telecoms companies want to levy significant charges on Google and other online content providers through an overhaul of the regime governing how data travel over the internet. Operators in Europe complain that they are contending with an explosion of data on their networks, much of which [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 2, 2010 FINANCIAL TIMES BANKS’ ASSET SELLING HINTS AT BETTER CONDITIONS Banks are selling some of the companies they took over from their private equity owners during the financial crisis, such as Swedish fridge-maker Dometic and German construction group DSI, indicating that the economic cycle is turning. Bargain-hunting private equity executives have been frustrated at the dearth [...]