This paper argues that a chronic US current account deficit is an integral and sustainable feature of a successful international monetary system. The US deficit supplies international collateral to the periphery. International collateral in turn supports two-way trade in financial assets that liberates capital formation in poor countries from inefficient...
This article explains the provisions of Bankruptcy Code. On May 30, 2000, the United States Supreme Court resolved a split in the circuits regarding whether Section 506c of the Bankruptcy Code provides a holder of an administrative claim with an independent right to seek payment of its claim from the...
In this white paper author examines the role of collateral in an environment where lenders and borrowers possess identical information and similar beliefs about its future value. Using option-pricing techniques, he shows that a secured loan contract is equivalent to a regular bond and an embedded option to the borrower...
The paper builds a model of emerging markets a crisis which features two types of collateral constraints. Firms in a domestic economy have limited borrowing capacity from international investors. They also have limited borrowing capacity with respect to each other. It studies how the presence and changes in these collateral...
Investors in contracts for difference CfDs are facing steep rises in the costs of taking out the controversial derivatives as the markets swing wildly, and they could face another round of cost hikes if conditions become worse. Market participants fear more firms could follow MF Global, which...
LAS VEGAS -- Whitney Funding, a market leader in finding solutions to the financial needs of micro and small cap companies, is taking advantage of its relationships around the world to help an ever-growing list of clients obtain the most favorable structure, terms and pricing in international asset, debt, and...
DALLAS -- Earth Biofuels, Inc. (OTCBB: EBOF) today announced a restructuring of certain promissory notes which has resulted in the reduction of $4,000,000 of senior secured debt on its biodiesel production facility located in Durant, Oklahoma. This reduction is part of the Company's plan to produce biodiesel at the facility...
NEW YORK -- Fitch affirms seven classes of notes issued by Emporia Preferred Funding III, Ltd./LLC., Emporia III. The following rating actions are effective immediately: --$100,000,000 class A-1 notes affirmed at 'AAA'; --$40,000,000 class A-2 notes affirmed at 'AAA'; --$132,580,000 class A-3 notes affirmed...
PHILADELPHIA, July 15 /PRNewswire-FirstCall/ -- Alesco Financial Inc. , a specialty finance real estate investment trust, today provided an update on its trust preferred securities portfolio, including the expected impact to AFN of the seizure of IndyMac Bancorp (Pink Sheets: IDMC.PK) ("IndyMac"). As previously disclosed, beginning in...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2006-3 (Cloverie 2006-3). The following rating action is effective immediately: --$40,000,000 class D notes to 'CC' from 'B-'. Fitch originally place Cloverie 2006-3 on...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2005-81 (Cloverie 2005-81). The following rating action is effective immediately: --$15,000,000 class B notes to 'CC' from 'BB+'. Fitch originally placed Cloverie 2005-81 on...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2006-1 (Cloverie 2006-1). The following rating action is effective immediately: -- $10,000,000 class A notes downgraded to 'CCC' from 'BBB-'. Fitch originally placed Cloverie...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative the sole class of notes issued by Cloverie Plc 2005-79 (Cloverie 2005-79). The following rating action is effective immediately: --$15,000,000 class S-4 notes to 'CC' from 'BBB'. Fitch originally placed Cloverie 2005-79 on...
NEW YORK -- GSC Investment Corp. (NYSE:GNV), a business development company, today announced results for the first quarter ended May 31, 2008. First Quarter 2009 Highlights * Net investment income of $3.2 million or $0.39 per share * Declared regular dividend of $0.39 per...
New logo, brand colors, marketing collateral reflect sophisticated business model FORT MYERS, Fla., July 14 /PRNewswire/ -- Fort Myers-based Sellstate Realty Systems Network, Inc. has rolled out a new branding initiative to its associates, aimed at raising the company's profile and differentiating it from other national real...
Infinity Capital Group, Inc. today announcedthat it has closed the acquisition of approximately 87.5 percent of theissued and outstanding shares in NPI08, Inc. (PINKSHEETS: NPIA) ("theShares") after the Denver Federal Bankruptcy Court approved the sale. Theconsideration for the transaction included a combination of cash, Infinitycommon stock, and a promissory...
NEW ACCOUNT WAS WON THROUGH A COMPETITIVE BID WHICH INCLUDED MID-SIZED AND MULTI-NATIONAL AGENCIES LOS ANGELES, July 14 /PRNewswire/ -- The Pollack PR Marketing Group PPMG, a 23-year-old multi-specialty public relations and marketing agency, announced today that Display Boys, a leading full-service retail solutions specialist, has selected...
NEW YORK -- Fitch Ratings has downgraded and removed from Rating Watch Negative seven classes of notes issued by Bering CDO I, Ltd. Bering. The following rating actions are effective immediately: --$169,488,597 Class A-1S1 to 'B' from 'A'; --$93,000,000 Class A-1S2 to 'CCC' from 'BBB'; ...
Solei Systems, Inc. (PINKSHEETS: SOLI) (the"Company") announced today that it has entered into an agreement to becomethe exclusive U.S. distributor for the leading U.S. manufacturer of spraybooth tanning solutions, Aviva Labs, Inc. Under the year-long agreement the Company will be the sole distributor forall Aviva Labs' Spray Booth Solutions in...
NEW YORK -- Fitch Ratings has placed the following notes of TABERNA Preferred Funding VI, LTD./Inc. Taberna VI on Rating Watch Negative: --$97,000,000 class C 'BBB+'; --$43,689,828 class D-1 'BB-'; --$10,171,150 class D-2 'BB-'. Taberna VI is a managed collateralized debt obligation...
Articles 2008-07-14
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