Monthly Archives: August 2014
Co-operative Group members back board reforms
The group has compromised with activists already by retaining three member-nominated directors, against the advice of Lord Myners, the former City minister, who reviewed the group's governance. His report warned … Lord Myners also said the board had …
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Towns where borrowers are most likely to go bust
Jobs in seaside towns are often low-paid, part time and seasonal, according to David Rodger at the Debt Advice Foundation. Mr Rodger said: … However, there has been an overall decrease in people going bust across the UK, even among poorer borrowers.
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Plymouth advisers receive pay-out for energy debt advice
DEBT advisors in Plymouth are to receive a grant of more than £300,000 after energy giant EDF was fined £3million for failing to deal with complaints properly. The city's Citizen's Advice Bureau will upgrade the national phone line it runs for the …
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Tackling Rutland's 'debt timebomb'
The overall number of enquiries for debt advice was down on last year's 18 per cent, but Mr trotter said that was because residents had been “lulled into a false sense of security” by the record low interest rates. A potential rise in interest rates …
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Bankruptcy and commercial transactions with foreign entities: what law governs?
As most astute manufacturers know, there is a statutory right under Bankruptcy Code section 503(b)(9) to assert an administrative priority claim (one with the highest priority in payment after secured creditors) for goods delivered to a debtor within …
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Carlyle-Owned Zodiac Pool Seeks US Bankruptcy Protection
Under Chapter 15, which was added to U.S. bankruptcy law in 2005, a company may seek a U.S. Bankruptcy Court's recognition of its foreign bankruptcy case as the main proceeding. If recognized by a U.S. judge, the bankruptcy filing effectively puts the …
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McArdle: Adding injury to an already flawed bankruptcy law
We should never have carved the special exemption for student loans out of bankruptcy protection; it makes the law more complex, and as I've written many times before, the proliferating complexity of the regulatory state has huge costs and should be …
Read more on Salt Lake Tribune
One Key To Finding The Size “Sweet Spot” For MLPs
By virtue of smaller economies of scale and more risk, smaller firms may not have access to cheap debt and may have to rely on revolving credit which is more expensive. These firms are extremely susceptible to rising rates and problems in the debt market.
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Deals of the day- Mergers and acquisitions
Norway's second-biggest cable operator Get expects to receive binding offers from Denmark's TDC and two private equity funds in a sale that could value Get at around 1.4 billion euros ($ 1.84 billion) including debt, sources familiar with the situation …
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Ramsay Health Care: The Dominating Force In The Health Industry (RMSYF)
The acquisition came in effect after both Ramsay Health Care limited and Credit Agricole Assurances signed a contract to acquire 83.43% of Generale de Sante. Ramsay will pay $ 627m for a 57% stake in the company, which will boost the company's total …
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Special Report: The billion-dollar fall of the house of Espirito Santo
Within a month, the holding company, Espirito Santo International, filed for bankruptcy, crumbling under 6.4 billion euros ($ 8.4 billion) in debt. In August, Banco Espirito … The bank's collapse, the source said, could have been avoided. The …
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Morning Agenda: Playing the Tax Game
BUSINESSES WINNING THE TAX GAME | Across corporate America, companies large and small are finding new ways to avoid paying taxes, making it harder than ever for the federal government to replenish its already depleted coffers, DealBook's David Gelles …
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NYC – Bowling Green: Alexander Hamilton Custom House
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The Alexander Hamilton Custom House is one of New York’s finest examples of Beaux Arts architecture, incorporating City Beautiful Movement planning principles with architecture, engineering, and fine arts. The seven story structure with 450,000 square feet sits on three city block in Bowling Green.
It is here, at the southern terminus of the old Algonquin trade route, Wiechquaekeck Trail, that Peter Minuet purchased the island of Manhattes for trinkets valued at 60 guilders, or about , from the Lenape Indians in 1626. Soon thereafter the Dutch West India Company built Fort Amsterdam on this site, which came to be the nucleus for the New Amsterdam settlement. After the American Revolution the fort was replaced by the brick Government House, which was intended to be but never used as a residence for the President. Instead it became the residence of New York Governors DeWitt Clinton and John Jay. The building served briefly as the Custom House from 1799 and 1815 before being torn down and replaced with rowhouses.
Before a federal income tax was imposed in 1916, a primary source of revenue for the federal government was custom duty. New York City, as the country’s most active port, has had a Custom House since the country’s founding in in 1781. In 1899, the United States Department of the Treasury acquired the Bowling Green property and sponsored a competition to build a new U.S. Custom House. Minnesotan Cass Gilbert, who later designed the Woolworth Building, won the competition by designing a building that was not just a functional building for commerce, but exuded a palatial grandeur. Construction began in 1900 and completed in 1907.
The interior of the building is dominated by the huge rotunda, which survives as one of the largest public spaces in New York. Commissioned In 1936 as part of the Treasury Relief Art Project, Reginald Marsh was commissioned to paint the elliptical space around the 140-ton skylight with sixteen frescoes. The larger sections portray eight successive stages of the arrival of an ocean liner in the harbor. Eight smaller panels, painted in grisaille to simulate statuary, depict famous explorers like Amerigo Vespucci, Christopher Columbus, Giovanni da Verrazano and Henry Hudson.
Above the main cornice on the sixth story are standing sculptures representing the great commercial sea-faring nations, from the Phoenicians to the Americans.
Central to Gilbert’s design of the Custom House were four separate sculptures to be placed at the front entrance of the Custom House, representing four continents (from left to right) – Asia, America, Europe and Africa. Gilbert asked both Daniel Chester French and August Saint-Gaudens both to submit designs for the sculptures. Saint-Gaudens declined the invitation, citing other work he was occupied with, so French received the commission. French began designing the sculptures of "Continents" in 1903 and they were completed and installed in 1907. Art scholars consider French’s "Continents" to be perhaps the best examples of architecture sculpture in the United States. Each of the four "Continents" represent a view of the continents through French’s early 20th century lens: Asia and Africa are still cloaked in mystery, Europe is in the waning years of its colonial conquests, and America is emerging as a new, vibrant society.
The building was subsequently abandoned in the 1970’s and was scheduled for demolition before being saved and restored in the early 1980’s. In 1987, the United States Bankruptcy Court for the Southern District of New York occupied the building and in 1994, the Smithsonian Institution’s National Museum of the American Indian took over two floors of the Old Custom House.
The United States Custom House was designated a landmark by the New York Landmarks Preservation Commission in 1965. Its interior was designated separately in 1979.
National Historic Register #72000889
Bankruptcy court lacks subject matter jurisdiction to determine tax refund …
A bankruptcy court lacks subject matter jurisdiction to determine a tax refund claim under Section 505(a)(2)(B) of the Bankruptcy Code where the refund was requested by a liquidating trustee appointed pursuant to a plan, as opposed to a pre …
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Bankruptcy court seeks jury trial for Community Foundation leaders
That didn't happen and Attorney Steven B. Sacks, representing Michael G. Kasolas, Chapter 7 trustee, who filed the claim in Bankruptcy Court, contends that David Rice, the longtime president of TVCF and its board members, failed in their management and …
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Momentive faces critics as bankruptcy-exit plan goes before court
Judge Robert Drain heard hours of argument from the bondholders and the company at the first day of a week-long hearing in U.S. bankruptcy court in White Plains, New York on Monday. Drain said he will offer his ruling when the sides return to court on …
Read more on MSN Money
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