Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 20th September 2019 | By contenteditor Betsson set to raise SEK1bn with oversubscribed bond placement Topics: Finance Email Address Subscribe to the iGaming newsletter Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region. Tags: Online Gambling Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region.The bonds, placed under a framework of SEK2.5bn, have a tenor of three years and will mature on 26 September, 2022. Betsson intends to apply for listing of the bonds on the corporate bond list of Nasdaq Stockholm.Confirmation of the placement comes after Betsson earlier this month set out plans to issue a new senior unsecured bond with an expected initial minimum volume of SEK500m to support its ongoing growth and expansion strategy.“There has been a strong interest from a broad range of investors in the issue, which was heavily oversubscribed,” Betsson’s chief financial officer Martin Öhman said.“We are also happy to see that the interest from large institutional investors throughout the Nordics has been much stronger than back in 2016 when issuing our first bond. It shows that we have the market’s support in our long-term strategy.”Betsson has also announced the results of a tender offer for the holders of its outstanding senior unsecured floating rate bonds due to mature on 28 November this year and outstanding amount of SEK1bn.The operator said that the holders of these bonds have accepted the tender offer, representing a total nominal amount of SEK754m. Betsson will now complete the offer, with the price for the bonds in the offer amounting to 100.7% of the nominal amount, with settlement due to occur on 26 September.Meanwhile, Betsson has said it intends to exercise its right to make a voluntary early redemption of the bonds not being tendered in the tender offer. Bonds in the early redemption will be redeemed at a price equal to 100% of the nominal amount. Early redemption is expected to occur on 17 October.
Mauritian Eagle Insurance Co. Limited (MEI.mu) listed on the Stock Exchange of Mauritius under the Insurance sector has released it’s 2010 annual report.For more information about Mauritian Eagle Insurance Co. Limited (MEI.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Mauritian Eagle Insurance Co. Limited (MEI.mu) company page on AfricanFinancials.Document: Mauritian Eagle Insurance Co. Limited (MEI.mu) 2010 annual report.Company ProfileMauritian Eagle Insurance Co. Limited is a leading insurance company headquartered in Mauritius that provides insurance products and services for private individuals, SMEs, and corporates in Mauritius, where services such as property insurance against damage to building and other structures, machinery equipment, motor insurance; liability insurance, including employers, family, product, professional indemnity, public, directors and officers liability, accident and health insurance are offered. Mauritian Eagle Insurance Co. Limited is listed on the Stock Exchange of Mauritius.
Plastic Industry Mauritius Limited (PIM.mu) listed on the Stock Exchange of Mauritius under the Paper & Packaging sector has released it’s 2015 interim results for the third quarter.For more information about Plastic Industry Mauritius Limited (PIM.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Plastic Industry Mauritius Limited (PIM.mu) company page on AfricanFinancials.Document: Plastic Industry Mauritius Limited (PIM.mu) 2015 interim results for the third quarter.Company ProfilePlastic Industry Mauritius Limited is a company headquartered in Ebene, Mauritius and engages in the manufacturing of plastic products for domestic and industrial purposes destined for local and regional markets. Plastic Industry Mauritius Limited designs products for distribution in the including industry, pharmaceuticals, cosmetics, and food processing and households sectors. Plastic Industry Mauritius Limited is listed on the Stock Exchange of Mauritius.
Victim Support has found that its 11,000 volunteers provided help worth almost £27 million nationally last year. The figure is based on a detailed study of the work of staff and volunteers in six of the organisation’s member charities.The report was produced by chartered accountants Chantrey Vellacott DFK and used recognised ways of calculating the value of volunteer time. The work was funded by the Home Office as part of ongoing work to look at the way in which the Government helps fund Victim Support and the value of the public services the charity provides in return.The research found that Victim Support, the national charity for people affected by crime, and Witness Service volunteers together donate two million hours of working time every year. The monetary value of this work roughly equals the annual grant from the Home Office to Victim Support. Advertisement Volunteers’ work worth £27m a year to Victim Support 34 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 2 August 2005 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Research / statistics Volunteering It also found that the investment in volunteers produced a return on investment of 1 to 5. In other words, for every pound invested in volunteer training and development, the charity reaped £5 in value from the volunteer. About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
News Latin American media: under control of families, economic and political elites News April 1, 2020 Find out more PeruAmericas Media independence Judicial harassment December 4, 2019 Find out more News China’s diplomats must stop attacking media over coronavirus reporting Reporters Without Borders (RSF) calls on Peruvian defence minister Jakke Valakivi to withdraw complaints against journalists responsible for a TV broadcast about alleged corruption in the military intelligence service. They are charged with divulging classified documents, which is punishable by up to 15 years in prison. Accused under legislation regulating “national security and treason,” the journalists named in the complaint are presenter Rosana Cueva, reporter Karina Novoa and all the other members of the team that helped produce the Panorama programme broadcast on 17 April.The programme alleged that unjustified expenses were claimed by intelligence officers operating in the Valley of the Rivers Apurimac, Ene and Mantaro. Located in in south-central Peru and often referred to by the acronym VRAEM, it is the country’s biggest coca-growing region.The report showed apparently falsified receipts and interviewed people who denied having received payments claimed in some of the receipts. The Panorama journalists insist that the documents shown in the programme contained no sensitive information about army operations.“We call on the defence minister to withdraw the complaints accusing the Panorama programme’s journalists of divulging classified documents,” said Emmanuel Colombié, the head of RSF’s Latin America desk.“This prosecution has all the hallmarks of a reprisal against these journalists. Such disproportionate legal proceedings against the media have become more frequent in Peru in recent years, fostering a climate of self-censorship that is endangering freedom of expression.”On 18 April, the journalist Fernando Valencia Osorio was given a 20-month suspended jail sentence and was ordered to pay the equivalent of 27,000 euros in damages to former President Alan García. A few weeks later, TV reporter and presenter Rafo León was also given a suspended jail sentence in a defamation case.Peru is ranked 84th out of 180 countries in RSF’s 2016 World Press Freedom Index. RSF_en Receive email alerts July 7, 2016 Peru: journalists face possible jail terms for reporting military corruption Latin America’s community radio – a key service but vulnerable to go further February 10, 2017 Find out more Organisation Follow the news on Peru News PeruAmericas Media independence Judicial harassment Help by sharing this information
NCLT Initiates Insolvency Process Against Anil Ambani Over Rs 1200 Crores Personal Guarantee To SBI [Read Order]
CorporateNCLT Initiates Insolvency Process Against Anil Ambani Over Rs 1200 Crores Personal Guarantee To SBI [Read Order] LIVELAW NEWS NETWORK22 Aug 2020 3:42 AMShare This – xThe National Company Law Tribunal, Mumbai bench, has allowed an application filed by State Bank of India to initiate insolvency proceedings against Reliance Communications Chairman Anil Ambani with respect to personal guarantee to the extent of Rs 1,200 crore.The NCLT ordered the appointment of a resolution professional and asked SBI to take the necessary follow-up action.The State Bank of…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe National Company Law Tribunal, Mumbai bench, has allowed an application filed by State Bank of India to initiate insolvency proceedings against Reliance Communications Chairman Anil Ambani with respect to personal guarantee to the extent of Rs 1,200 crore.The NCLT ordered the appointment of a resolution professional and asked SBI to take the necessary follow-up action.The State Bank of India (SBI) filed an application under section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate personal insolvency proceedings against Anil Ambani in his capacity as a personal guarantor for certain facilities granted to Reliance Communications Limited (RCOM) and Reliance Infratel Limited (RITL) by SBI aggregating to INR 1200 Crore. As per section 97 (3) of the IBC, the Adjudicating Authority is required to direct the Insolvency and Bankruptcy Board of India (IBBI) to nominate a resolution professional for the insolvency resolution process of a personal guarantor within 7 days from the filing of an application under section 95 of the IBC. However due to the reduced functioning of courts owing to the pandemic, the Adjudicating Authority could not issue these directions as required under law. Meanwhile, Ambani suffered a decree in certain proceedings before the High Court of England and Wales wherein he was directed to repay approximately INR 5450 Crore to certain Chinese Banks. In this backdrop, SBI filed an Interlocutory Application seeking urgent directions from the Adjudicating Authority to the IBBI to nominate a resolution professional under section 97 (3) of the IBC on the apprehension that Chinese Banks may initiate execution proceedings against Mr. Anil Ambani in India. Ambani resisted such a direction on the grounds that RCOM and RITL were already undergoing corporate insolvency resolution process and resolution plans with respect to both companies are pending approval of the Adjudicating Authority, thereby extinguishing the debt of SBI and other lenders. He argued that by virtue of the approval of the resolution plan, the principal borrowers viz. RCOM and RITL stood discharged and therefore the personal guarantor also stood discharged from his obligations under the personal guarantee. He further argued that the application filed by SBI under section 95 of the IBC cannot be proceeded with until the RCOM and RITL resolution plans were approved by the Adjudicating Authority and all payments under the resolution plan completed. On the other hand, SBI, argued that section 60 (2) of the IBC itself permits simultaneous proceedings against the Corporate Debtor and personal guarantor and therefore there is no impediment for the Adjudicating Authority to proceed with the hearing of SBI’s application. It argued that the approval of the resolution plans of RCOM and RITL at best discharged the liability of the companies from repaying SBI but not the debt itself. Further, it argued that the resolution plans specifically excluded enforcement of guarantees, personal or corporate, from extinguishment. In view of the specific exception and carve out, SBI was well within its rights to invoke and enforce its rights under the personal guarantee. It was further argued that if Mr. Anil Ambani’s arguments were to be accepted, huge amounts of public money being written off, despite there being existence of guarantees but lack of recourse for enforcement. We also argued that a discharge of the principal debtor by operation of law in bankruptcy or liquidation proceedings does not absolve the surety from his/her liability. After hearing the parties, the NCLT allowed SBI’s application and appointed an insolvency resolution professional to examine the application under section 95 of the IBC and submit a report recommending the admission or rejection of the said application.”It is not in dispute that the Respondent furnished his personal guarantee for the credit facilities availed by RCOM and RITL. When an Application under section 95 of the Code is file by the Creditor, as in this case, the Adjudicating Authority shall within seven days of filing of the Application direct the Board to nominate a resolution professional for the insolvency resolution process. Section 97(3) of the Code doesn‟t provide for any alternative or any option to the Adjudicating Authority to be tardy in making the direction to the Board. The use of the word „shall‟ itself indicates the urgency with which the Application needs to be dealt with. The Authority accordingly has no other option than to issue the direction”, observed a bench of Janab Mohammed Ajmal (Judicial Member) and Ravikumar Duraisamy(Technical Member).The NCLT said both RCom and RITL committed default in repayment in and around January 2017. The accounts were retrospectively declared as non-performing account (NPA) with effect from August 26, 2016, even before loan agreements had been entered into. “Such retrospective declaration seems rather incongruous, akin to the adage ‘putting the cart before the horse’. While debt and default have remained undisputed, the incongruity of the declaration of NPA, has not been raised and contested by the Respondent. Besides, reappraisal of the declaration of the NPA by this Authority would not fall within the ambit of the provisions of the Code, under which the instant Applications have been made,” the order said.SBI was represented by the DSK Legal team comprising Mr. Nirav Shah (Partner) and Mr. Ryan D’souza (Associate), led by Senior Counsel Mr. Venkatesh Dhond. Mr. Anil Ambani was represented by Senior Counsel Mr. Harish Salve and Senior Counsel Mr. J. J. Bhat, who were instructed by M/s. Mulla & Mulla & Cragie Blunt & Caroe. Click here to download the orderRead Order Next Story
Richmond Police Dept. (RICHMOND, Ky.) — The remains of missing Kentucky mom of four Savannah Spurlock have been recovered, authorities announced Thursday, as a man was arrested in connection with the case.The remains were found behind a home in Garrard County, about 30 miles south of Lexington, on Wednesday night, and were positively identified on Thursday, according to the Kentucky State Police.That property had been searched several months ago, but no body was found then, Kentucky State Police spokesman Trooper Robert Purdy said.Spurlock’s cause of death has not yet been determined, Purdy said.Spurlock, 23, went missing in January after leaving a bar in Lexington with three men, according to authorities.David Sparks, 23, one of those three men last seen with Spurlock, was arrested on Thursday and charged with abuse of a corpse and tampering with physical evidence, authorities said.Sparks’ family owns the property where her body was found, Purdy said.An official told ABC News in February that they knew the three men took Spurlock to a home in the rural county, but not “when, how she left, or what happened to her after that.”All three men were interviewed, but not charged at the time.Authorities on Thursday did not discuss the possibility of additional charges.“Over the coming days detectives will continue their investigation into what led to the death and disappearance of Savannah Spurlock,” Purdy said at a news conference on Thursday.Spurlock’s mother, Ellen Spurlock, called her daughter’s disappearance her “worst nightmare” in an interview earlier this year. She told ABC News she spoke to her daughter at about 3 a.m. on Jan. 4, while she was with the three men, and nothing seemed unusual.“When I asked her where she was, she said she was in Lexington,” Ellen Spurlock told ABC News. “She promised she would be home later that morning. She did not seem out of the ordinary.”Copyright © 2019, ABC Radio. All rights reserved.
BREAKING NEWS GEORGE LUMLEYS REQUESTS FOR PAST BROWNFIELDS CORP. AUDITS DENIEDWe just received to e-mail exchange from George Lumley concerning his requests for copies of past Evansville Brownfield Corp audits. Mr. Lumley’s correspondence between him and Brownfield Corp. attorney Nick Cirignano speaks for itself.We post the attached e-mail exchange between Mr. Lumley and Attorney Nick Cirignano for your review and comments.Starting next week the City County Observer shall be contacting the Division of the Office of the Special Inspector General For The Troubled Asset Relief Program are and ask that they begin a special investigations on Evansville Brownfield Corp soon as possible.Enough is enough. Evansville Brownfield financial operations solely depends on taxpayers money (Federal-State and local). The taxpayers of this community deserves to know how their hard earned tax dollars are being spent.We are extremely disappointed in the main stream media for not getting involved in this issue of “transparency and “public access”.Below is the correspondence between Lumley and Evansville Brownfield Corp AttorneyGeorge Lumley Add to contacts 8:03 AM Keep this message at the top of your inbox To: ‘Nick Cirignano’ Cc: ‘Coures, Kelley’, ‘Rusk, Carolyn’[email protected] CirignanoI will try to summarize here the information that I would like to provide directly to your auditors. Although your organization claims to be public (when they speak to the public) it operates like a private club and claims to be a private club when addressing individuals like me. From looking at the information that I have found to exist in the public domain it appears that your organization has spent Federal Funds Inappropriately. I do not know how long you have been involved with EBC. You current Board Members may not be aware of past activities or obligations.When I search the public domain I find only one audit filed and made public in the history of the EBC. This audit was for the year 2009 and I find no more even though it appears there would be an audit requirement.When I look at the transactions that I find in the public domain I question the handling of the federal funds entrusted to the EBC. It appears that purchases, dispositions and program income may not follow federal guidelines.For instance: It appears a financial institution had 3 houses they acquired through foreclosure. One house had a negative value. The financial institution packaged the Negatively valued property with two others and sold the package for $13,500. A few months later the Buyer sells the negative value house to the EBC for about $40,000. Then the negative valued property is demolished and cleaned up at the publics expense. Something is wrong with this picture. If your private EBC club was doing this with their money I would not be concerned. It appears they used federal dollars for this purpose. This questionable purchase is not an isolated instance.Questions also exist on disposition of property purchased with federal funds. For example a house purchased for $20,000 was transferred for $-0- to someone to repair. How does the fair market value of a property change from $20,000 to $-0- in a matter of month. It would appear that EBC paid $20,000 over fair market value or sold the property for $20,000 under fair market value. Another house purchased for $80,000 sold for $5,000. Not only homes were purchased. A business was purchased for $190,000 and sold for $15,000.I suspect the EBC had obligations for dispensing program income that may not have been followed. For example: The EBC/DMD purchased a property for $350,000. They made an estimated $60,000 in improvements and then sold the property for $15,000. Along with the sale there was also a gift of $100,000 to be applied toward development cost. This represents a total cash outlay of $495,000. From the information I find in the public domain EBC get all its funding from governmental grants or program income for those grants.I suspect I have information pertinent to the audit of the EBC.Sincerely,George Lumley From: Nick Cirignano [mailto:[email protected]] Sent: Thursday, February 11, 2016 11:22 AMTo: George Lumley
Keller Williams has been on a roll with his newest creation, KWahtro. After years performing primarily as a solo artist, Williams has built up a reputation as one of the most versatile musicians in the business. By teaming with Gibb Droll, Rodney Holmes and Danton Boller, Keller’s new four-piece has been taking the country by storm.Last week, on November 3rd, Keller brought the KWahtro to Saint Rocke in Hermosa Beach, CA, performing a hits-filled show with classics, covers and more. Thanks to Brandon Weil, we have photos and a video from this great night of music!Watch a clip of Grateful Dead’s “Eyes Of The World” streaming below.Keller continues to tour with KWahtro and more throughout the fall, and just announced an exciting winter tour with the great Leo Kottke. Read more about that here, and see the full gallery from Hermosa Beach below. Load remaining images