Podcasts about bondholders

This Day in Legal History: Goodridge v. Department of HealthOn November 18, 2003, the Massachusetts Supreme Judicial Court issued a historic decision in Goodridge v. Department of Public Health, becoming the first court in the United States to rule that a state ban on same-sex marriage was unconstitutional. In a narrow 4–3 decision, the court held that the denial of marriage rights to same-sex couples violated the Massachusetts Constitution's guarantees of equality and liberty. Writing for the majority, Chief Justice Margaret Marshall emphasized that marriage is a civil right and that excluding same-sex couples from this institution created a second-class status inconsistent with constitutional protections.The court ordered the Massachusetts legislature to take corrective action within 180 days, either by revising existing laws or crafting a new framework that would extend marriage rights to same-sex couples. Importantly, the ruling did not permit civil unions as a substitute for marriage, affirming that anything less than full marriage rights would perpetuate discrimination. This groundbreaking decision made Massachusetts the first state in the U.S. to legalize same-sex marriage, sparking national debates over marriage equality.The Goodridge decision laid the foundation for subsequent legal battles over marriage rights and catalyzed movements for LGBTQ+ equality nationwide. While celebrated as a milestone in civil rights history, the ruling also ignited opposition, prompting efforts to pass constitutional amendments to define marriage as between one man and one woman. Despite the controversy, Massachusetts began issuing marriage licenses to same-sex couples in May 2004, cementing its role as a trailblazer in the fight for marriage equality.Former President Donald Trump's hush money criminal case is at a crossroads following his election victory. Trump was convicted in May of falsifying business records to conceal a $130,000 payment to Stormy Daniels during his 2016 campaign, but sentencing has been paused at the request of Manhattan District Attorney Alvin Bragg. Prosecutors must now propose how to proceed, balancing the political implications of prosecuting a president-elect with the need to uphold legal standards. Their recommendations are due Tuesday.Options for prosecutors include indefinitely delaying sentencing, postponing punishment until Trump exhausts appeals, or pursuing a sentence with minimal consequences, such as an unconditional discharge. Legal experts suggest Bragg is unlikely to seek aggressive penalties before the inauguration, given the potential political fallout.Trump's defense has long claimed the case is politically motivated, arguing that it should be dismissed to avoid unconstitutional interference with his presidency. They also contend that his actions are protected by presidential immunity, though the court has yet to rule on this argument. The judge, Justice Juan Merchan, will ultimately decide whether the case moves forward, with both sides expected to appeal any unfavorable decisions.What's next in Trump's hush money criminal case | ReutersFormer IRS Contractor Sentenced for Disclosing Tax Return Information to News Organizations | United States Department of JusticeKathi Vidal, outgoing director of the U.S. Patent and Trademark Office (USPTO), will rejoin her former law firm, Winston & Strawn, as a partner on December 16 after leaving the agency. Nominated by President Joe Biden in 2021, Vidal focused on policies addressing artificial intelligence (AI) in patents, international intellectual property (IP) issues, and diversity in innovation during her tenure. She emphasized transparency and patentability standards for AI-assisted inventions to promote innovation without stifling it.Deputy Director Derrick Brent will serve as acting director until President-elect Donald Trump appoints a replacement. Trump has not announced his pick, though his first-term USPTO head, Andrei Iancu, prioritized policies favoring patent owners. Vidal noted that IP policy tends to be less partisan and highlighted the agency's unique funding model, which relies on processing fees rather than taxpayer dollars.At Winston, Vidal will advise clients on tech-related legal issues, including AI, cybersecurity, and antitrust law, leveraging her USPTO experience. The firm's leadership praised her ability to guide clients through challenges posed by technological advances and geopolitical pressures. Vidal expressed her intention to continue shaping tech policy at the intersection of law and innovation.US Patent Office's Vidal returns to law firm Winston ahead of Trump term | ReutersSpirit Airlines Inc. has filed for Chapter 11 bankruptcy amid financial challenges and intense competition from rival carriers. The filing in New York lists the company's assets and liabilities as between $1 billion and $10 billion. Spirit's troubles escalated after a federal judge blocked its proposed $3.8 billion merger with JetBlue Airways Corp., citing antitrust concerns that the deal would harm budget-conscious travelers by raising ticket prices. Previous merger talks with Frontier Group Holdings Inc. also collapsed.The discount airline has faced increasing pressure from major carriers offering competitive basic economy fares, which have eroded Spirit's market share. Since the COVID-19 pandemic, the company has posted consistent losses, with its stock plummeting 93% in 2023.Spirit's bankruptcy follows an agreement with bondholders on a debt restructuring plan. Bondholders will convert $795 million of debt into equity, take control of the company, and inject $350 million in fresh equity along with $300 million in debtor-in-possession financing to sustain operations during the bankruptcy process. The airline also plans to delist as part of the restructuring.In an effort to remain competitive, Spirit recently introduced upgrades such as extra legroom and free checked baggage to attract travelers seeking more premium options. However, these efforts have been insufficient to counter the financial strain. The case is being handled in the U.S. Bankruptcy Court for the Southern District of New York.Spirit Airlines (SAVE) Files Bankruptcy Following Failed JetBlue Tie-Up - BloombergThe U.S. Supreme Court announced it will release its first opinion of the term on November 22, earlier than in recent years, where the first opinions appeared in December or January. The specific case or cases to be decided have not been disclosed, but they are likely from the nine argued in the October session. These include issues like federal court jurisdiction, attorneys' fees, and the requirement to exhaust administrative remedies before suing in federal court. Complex cases, such as challenges to Biden's ghost gun regulations and an Oklahoma death penalty case, are expected to take longer.The timing recalls the court's earlier practice of releasing initial opinions in November, a pattern often attributed to Justice Ruth Bader Ginsburg's quick writing pace. In contrast, recent terms have seen delays, with the first opinion in the 2022 term arriving as late as January 23, 2023, marking an unprecedented delay since the court's October term structure began in 1917.This term, the court has already agreed to hear 45 cases, avoiding controversial social issues and focusing on lower-profile matters. The November 22 release could include an opinion or even a dismissal of a case as “improvidently granted,” as suggested during recent arguments in an investor lawsuit against Nvidia.US Supreme Court Bucks Recent Trend, Announces Opinion ReleaseThe court ruling in Mem'l Hermann Accountable Care Org. v. Commissioner underscores the flaws in the current 501(c)(4) tax-exempt classification and the need for reform to address the issue of dark money in politics. This tax code section groups together vastly different organizations, from advocacy groups like the NRA to local sports leagues, under a single classification. The lack of clear, enforceable standards allows some organizations to exploit their tax-exempt status to fund political campaigns while avoiding donor disclosure. This lack of transparency fuels the dark money problem.501(c)(4) organizations can engage in political activity as long as it's not their primary purpose, a vague standard that has led to inconsistent enforcement by the IRS. The Fifth Circuit's decision in Mem'l Hermann challenges this leniency by applying a stricter “substantial nonexempt purpose” test, signaling a potential shift towards greater scrutiny of political spending by these organizations.One solution is creating a new tax-exempt subcategory—501(c)(4)(C)—for politically active social welfare groups. This would establish clearer rules, such as capping political expenditures at 50% of revenue and requiring donor disclosure for contributions above $10,000. It would also separate traditional social welfare organizations from politically active ones, reducing unnecessary regulatory burdens on the former.Breaking 501(c)(4) into more specific classifications would ensure that transparency requirements target politically active organizations without disrupting community-focused groups. It would also help regulatory bodies focus enforcement efforts and prevent misuse of tax exemptions for untraceable political contributions. This reform aligns with public demand for accountability in campaign finance while preserving the integrity of non-political nonprofits.In sum, the 501(c)(4) designation is problematic as currently drafted because it combines a wide variety of organizations with vastly different purposes under the same tax code section. This allows political advocacy groups to hide behind the same classification as traditional social welfare organizations, avoiding stricter scrutiny. This structural ambiguity hampers transparency efforts, suggesting the need to separate these groups into distinct categories for effective regulation.Getting Rid of Dark Money Requires a New Tax-Exempt Designation This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

By popular demand, Patrick McKenzie (patio11) is joined by Byrne Hobart for a 3rd conversation to discuss Byrne's book "Boom: Bubbles and the End of Stagnation." They explore how periods of irrational market enthusiasm often create lasting value despite their painful endings. Using examples from the 1990s fiber optic boom that enabled modern streaming to today's AI investment surge, they examine how even when investment manias end badly, they frequently pull forward crucial technological development that benefits society long-term. Byrne and Patrick weave through historical cases like Bell Labs to present day examples in crypto and energy infrastructure, revealing hidden cycles where speculative excess can drive genuine innovation.–Full transcript available here: https://www.complexsystemspodcast.com/episodes/boom-busts-and-long-term-progress-with-byrne-hobart-2/–Sponsor: CheckCheck is the leading payroll infrastructure provider and pioneer of embedded payroll. Check makes it easy for any SaaS platform to build a payroll business, and already powers 60+ popular platforms. Head to checkhq.com/complex and tell them patio11 sent you.–Links:Order Byrne Hobart's book Boom: Bubbles and the End of Stagnation on Stripe Press / Bookshop / Amazon here: https://press.stripe.com/boomThe Diff Capital Gains The Reckoning by David Halberstam: https://www.amazon.com/Reckoning-David-Halberstam/dp/0380721473Austin Vernon on Fracking, Complex Systems Podcast: https://open.spotify.com/episode/0YDV1XyjUCM2RtuTcBGYH9?si=CDrPD3nNSP-MUV60qffglg–Twitter:@byrnehobart@patio11-Timestamps:(00:00) Intro(00:25) Discussing the book: Boom, Bubbles, and the End of Stagnation(01:08) Economic growth and productivity(04:42) Technological advancements and corporate R&D(07:31) The role of government and private sector(13:42) Sponsor: Check(14:57) Economic history and industrial evolution(20:12) Japanese industrial planning and efficiency(27:16) The dot-com boom and fiber optic investment(31:21) Bondholders vs. equity investors: A comparative analysis(32:32) Google's strategic fiber investments(32:56) The evolution of online video and YouTube's rise(35:22) The dot-com bubble and its aftermath(44:06) The housing bubble(49:39) Financial manias and reflexivity(52:23) The SaaS ecosystem and startup growth(54:58) Stripe and the evolution of online payments(01:00:22) Crypto(01:04:58) The value of currency and crypto(01:06:36) Exchange tokens and financial models(01:08:55) Crypto's impact on financial systems(01:10:41) The evolution of banking technology(01:13:18) Crypto regulations and financial freedom(01:17:28) Smart contracts and financial innovation(01:26:47) The role of AI in technological advancements(01:29:18) The future of energy: Geothermal and fracking(01:41:39) The journey of writing ‘Boom'(01:42:57) Wrap

Eurobond holders are expected to forego about $4.7 billion owed them by the Government of Ghana. This is part of agreement reached with the Bondholders in restructuring a $13.1 billion debt.

Bring In The Bondholders- Inside The Argentinian Debt Crisis With Greg Makoff by Overseas Development Institute

While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true.  Instead, the well-known China-Africa scholar contends the main problems facing African borrowers today are anchored in the United States. Most of Africa's debt is priced in U.S. dollars, which is now much more expensive than it was just a few years ago due to higher interest rates set by the Federal Reserve in Washington. Professor Tang joins Eric & Cobus from Beijing to discuss the current debt situation and what preparations are being made ahead of the Forum on China-Africa Cooperation summit that will take place later this year in Beijing. JOIN THE DISCUSSION: X: @ChinaGSProject | @stadenesque | @eric_olander Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth FOLLOW CAP IN FRENCH AND ARABIC: Français: www.projetafriquechine.com | @AfrikChine Arabic: عربي: www.alsin-alsharqalawsat.com | @SinSharqAwsat JOIN US ON PATREON! Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug! www.patreon.com/chinaglobalsouth

European bond investors: your restricted payment builder baskets are under threat! But also, you're probably better protected against being J.Screwed than you were in the past.Those are just two insights from 9fin's European High Yield Bonds Covenants Report, which provides a deep dive on the state of high yield bond covenants, based on documentation from last year.In this week's episode of Cloud 9fin, our host Jennifer Munnings digs into the report's findings with our senior legal consultant Chris Osborne, who co-authored the report with Alice Holian.They also discuss our recent piece about EG Group's recent dividend blockers, which you can read here.

For the first time in years, a few African countries are venturing back into the bond market to raise funds for infrastructure and to pay down their debts. However, borrowing more from private creditors is a risky move given the difficulties that many African governments, namely Zambia, have encountered in restructuring their existing debt portfolios. And if Zambia's experience is anything to go by, it's taught us that whatever global financial safety net was in place to help countries in distress was wholly inadequate to meet the challenge. William Kring, executive director of Boston University's Global Development Policy Center, and Marina Zucker-Marques, a post-doctoral researcher at the University of London's Centre for Sustainable Finance, recently published a new article that explored the inability of the current financial system to protect the poorest, most vulnerable states. William and Marina join Eric & Cobus to discuss the situation in Africa and China's role, in particular, as one of the continent's largest and most important creditors. JOIN THE DISCUSSION: X: @ChinaGSProject| @stadenesque| @eric_olander Facebook: www.facebook.com/ChinaAfricaProject YouTube: www.youtube.com/@ChinaGlobalSouth FOLLOW CAP IN FRENCH AND ARABIC: Français: www.projetafriquechine.com | @AfrikChine Arabic: عربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfr JOIN US ON PATREON! Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug! www.patreon.com/chinaglobalsouth

Este boletim traz um resumo das principais notícias do dia na análise de Samuel Possebon, editor chefe da TELETIME.TELETIME é a publicação de referência para quem acompanha o mercado de telecomunicações, tecnologia e Internet no Brasil. Uma publicação independente dedicada ao debate aprofundado e criterioso das questões econômicas, regulatórias, tecnológicas, operacionais e estratégicas das empresas do setor. Se você ainda não acompanha a newsletter TELETIME, inscreva-se aqui (shorturl.at/juzF1) e fique ligado no dia a dia do mercado de telecom. É simples e é gratuito.Você ainda pode acompanhar TELETIME nas redes sociais:Twitter: https://twitter.com/TeletimeNewsLinkedin: shorturl.at/jGKRVInstagram: https://www.instagram.com/teletimenews/Facebook: https://www.facebook.com/Teletime/ Google News: shorturl.at/kJU35Ou entre em nosso canal no Telegram: https://t.me/teletimenews Hosted on Acast. See acast.com/privacy for more information.

Welcome to the weekend!This is Stephen Colbert from the Gazette Digital News Desk, and I'm here with your update for Saturday, January 13th and Sunday January 14th, 2024.According to the National Weather Service, we're getting more snow and more cold. Saturday will have a 50% chance of snow, mainly after 11am with widespread blowing snow before 1pm. Otherwise it'll be cloudy and cold, with a temperature falling to around 6 by 4pm. Wind chill values as low as -15. Total new accumulation should be less than an inch.Saturday night has a 30% chance of snow, mainly before 7pm. Otherwise it'll be mostly cloudy, with a low around -10. Wind chill values as low as -30. Sunday will be mostly sunny and cold, with a high near -4. Wind chill values as low as -35 and Sunday night will be mostly cloudy, with a low around -16.This week's second winter storm is upgraded as near-blizzard conditions loomCompared with the winter storm earlier this week, this round of weather is less likely to bring quite as much snow, although a lot more blustery weather is on the way as wind chills will fall as low as minus 30 by Saturday night into Sunday. Temperatures will be in the negatives for most of Eastern Iowa on Sunday, as well as Monday — when many Iowans will head out to participate in the Iowa caucuses.The national weather service has issued a wind chill warning from Sunday night through Tuesday evening.Bondholders seek 96% of Mercy Iowa City sale proceeds as closure nearsWith the $28 million sale of Mercy Iowa City to the University of Iowa just over two weeks away from closing, the 150-year-old community hospital's largest bondholders are seeking court affirmation they will get the vast majority of that money “promptly.”Computershare Trust Company, serving as master trustee for bonds issued to Mercy in 2011 and 2018, along with Mercy's largest bondholder, Preston Hollow Community Capital, asked a U.S. Bankruptcy judge to direct Mercy to give them $26.8 million of the sale proceeds “either at closing or as soon as practicable following closing,” which is expected on Jan. 31.Trump's Iowa lead huge, unchanged in Iowa State University pollThere was no surprise, and very little movement in the final Iowa State University-Civiqs poll ahead of Monday's first-in-the-nation Iowa Republican caucuses.Just like all the ISU-Civiqs polls before it, the final edition, published Thursday, showed former President Donald Trump with a commanding lead over the remainder of the Republican presidential primary field in Iowa.Trump was the top choice of 55 percent of those surveyed for the ISU-Civiqs poll, well clear of the second-place tie between Florida Gov. Ron DeSantis and former U.N. ambassador Nikki Haley at 14 percent each.Have a good weekend everyone, and stay warm.

Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms that bondholders were negotiating with Lusaka on the grounds that private creditors were getting more out of the deal.Now, three years into this process, Zambia is once again stuck in limbo as rival creditors feud over who will get paid first and how much.Rachel Savage, Africa senior markets correspondent at Reuters, has been covering the story on a near-daily basis and joins Eric & Geraud to explain why the deal collapsed and what happens next.JOIN THE DISCUSSION:X: @ChinaGSProject| @christiangeraud | @eric_olander | @rachelmsavageFacebook: www.facebook.com/ChinaAfricaProjectYouTube: www.youtube.com/@ChinaGlobalSouthFOLLOW CAP IN FRENCH AND ARABIC:Français: www.projetafriquechine.com | @AfrikChineعربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfrJOIN US ON PATREON!Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug!www.patreon.com/chinaglobalsouthSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Singapore shares advanced in early trade today, tracking overall gains in global markets. The Straits Times Index (STI) rose 0.1 per cent to 3,072.09 points then, after 26 million securities changed hands in the broader market. In terms of companies to watch today, we have Great Eastern, after the insurance arm of OCBC posted a 5 per cent increase in total weighted new sales to S$419.4 million for the third quarter ended September.  Elsewhere from WeWork reportedly filing for a Chapter 11 petition in New Jersey to more on media reports of China Evergrande's plans for offshore bondholders, more corporate headlines are in focus.  Also on the table today – more news on two automakers that both have their names start with the letter 'T' – Tesla and Toyota. On Market View, The Evening Runway's finance presenter Chua Tian Tian sat down with Matthias Chan, Head of Research at SAC Capital for more.See omnystudio.com/listener for privacy information.

David Hay, co-CIO at Evergreen Gavekal and author of the Haymaker newsletter on Substack, joins Julia La Roche on episode 111. In this episode, Hay makes a case that the odds of a recession are going up, not down, with each passing day.  The conversation dives into the bond market, exploring the shift to a secular bear market and the implications this holds for the broader financial ecosystem. Elsewhere, Hay shares where he's allocated and why he's mildly bullish on energy. He also points out we have a supply problem, and we're likely to experience an acute and lasting oil shortage. Links:  Substack: https://haymaker.substack.com/ Bubble 3.0 Audiobook: https://awesound.com/a/bubble-30-historys-biggest-financial-bubble Evergreen Gavekal: https://evergreengavekal.com/about-us/ David Hay: https://evergreengavekal.com/team/david-hay/ The Julia La Roche Show is produced by Marlinski Media: https://www.marlinskimedia.com/ Timestamps:  0:00 Welcome David Hay to the show  1:20 Macro view  2:50 Odds of a recession are going up with each passing day  4:17 Misleading data  6:30 Higher for longer's impact on bankruptcies  7:40 GDI recession  10:45 Federal Fiscal Funding Fiasco  12:29 Structural bond bear market  15:27 Supply and demand in bond market  17:44 Hedge funds buying USTs with leverage / the basis trade  19:40 T-bills  21:26 A ‘transitory' bond rally  25:30 The country is circling the drain  28:00 Bondholders are going to be the sacrificial lambs  29:20 Where do you want to be allocated  31:40 We're going to have an oil supply problem  33:00 Parting thoughts

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussions on issues and companies across the credit lifecycle. This week's podcast includes discussions on: -Dutch bicycle group Accell, and its recent issues with bicycle inventories; -German commercial real estate company Demire, recent bondholder movements and its upcoming 2024 debt maturities; -The primary market, with a roundup of action that has taken place since last week. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey For more information on our latest events and webinars: reorg.com/resources/events-and-webinars/ Sign up to our weekly newsletter Reorg on the Record: reorg.com/resources/reorg-on-the-record/ #leveragedfinance #highyield #restructuring #performingcredit #distresseddebt #debtrestructuring #leveragedloans

Welcome to the weekend!This is Stephen Colbert from the Gazette Digital News Desk, and I'm here with your update for Saturday, August 26th, and Sunday, August 27th, 2023.According to the National Weather Service, temperatures on Saturday will be partly sunny, with a high near 83, cooling to a low around 54 Saturday evening.Sunday will be sunny, with a high near 81. Sunday night will remain clear, with a low around 57.Bondholders, bankruptcy trustee seek slowdown in Mercy hospital saleAlthough Mercy Iowa City wants an expeditious sale of its assets — after the 150-year-old hospital filed for Chapter 11 bankruptcy this month — its bondholders and creditors this week asked a judge to tap the brakes to give them time for due diligence and to maximize the “value of the sale.”“(Mercy's) proposed bidding procedures are premised upon an exceptionally abridged timeline,” the hospital's primary bondholders argued in court filings Thursday, referencing Mercy's request for a Sept. 19 deadline for other bids to compete with the University of Iowa's $20 million opening offer.Chief Judge Thad Collins on Friday agreed to move a hearing on the timeline and sale process from Aug. 31 to Sept. 13 — which is just a week before the Sept. 19 bid deadline Mercy wants him to approve.Mercy didn't object to the new hearing date, but Mercy attorney Dan Simon said his client still will be pushing for an expedited process.Extreme drought develops in northeast IowaDrought conditions in Iowa have worsened amid a lack of rainfall and a heat wave that has stretched for days.A large area of extreme drought has developed in several northeast Iowa counties, according to a U.S. Drought Monitor weekly report on Thursday. That is the second-worst classification of four the agency uses to denote drought conditions.The counties included in the new severe drought classification include Black Hawk, Grundy, Butler, Bremer, Chickasaw, Floyd, and a small eastern portion of Allamakee County.The typically wettest months of the year have passed, and relatively heavy rainfall in the first half of August did little to improve the drought in Iowa. That led the federal Climate Prediction Center to reverse its rosier outlook for drought and predict that a similar dryness will persist in the state for the next two months.About 47 percent of the state's topsoil had sufficient moisture for growing crops as of Sunday, according to the U.S. Department of Agriculture.President Biden approves Iowa disaster declaration for Mississippi River flood damagePresident Joe Biden on Friday approved a disaster declaration and relief for seven Iowa counties that sustained a combined estimated $6.3 million in damages from spring flooding along the Mississippi River.Iowa Gov. Kim Reynolds requested the major disaster declaration earlier this month. Rapid snow melt caused severe flooding in the seven Iowa counties between April 24 and May 13, resulting in significant damage to public infrastructure and private property.Seven gauges measuring river height along the Iowa side of the river broke top five record crests.The declaration makes available federal funding to state, tribal, and eligible local governments and certain nonprofits on a cost-sharing basis for emergency work and the repair or replacement of facilities damaged by flooding in Allamakee, Clayton, Des Moines, Dubuque, Jackson, Lee, and Scott counties.Have a good weekend, everyone.

Bondholders who opt for DDEP confirm receipt of monies

Can you issue a trial subpoena under Fed. R. Civ. P. 45 (or its state equivalents) not to a named person, but instead to a 30(b)(6)-style "Corporate Representative" and attach a list of topics? In this episode, Jim Garrity outlines the leading cases on point and discusses the arguments pro and con. The Show Notes below include a list of the cases upon which this episode is based, as well as a cite to an actual subpoena issued in this manner and the Motion to Quash that the subpoena triggered. (REMINDER: If you don't see all the cases, click through to the page that hosts our podcast. Not all sites allow lengthy show notes, but you'll always find the complete Show Notes on our home page.)SHOW NOTESLegion Sys., LLC v. Valiant Glob. Def. Servs., Inc., No. 8:20-CV-2321-KKM-MRM, 2023 WL 4686245, at *2 (M.D. Fla. July 21, 2023) (containing thorough analysis of issue, concluding “These procedures in Rule 30(b)(6) are applicable to depositions and do not apply to trial-witness subpoenas. Concluding otherwise would allow Rule 30 to expand the meaning of Rule 45 without any textual support for doing so. Hill v. Homeward Residential, Inc., 799 F.3d 544, 553 (6th Cir. 2015).)Defendant's Motion To Quash Plaintiff's Subpoena To Appear And Testify At A Hearing Or Trial In A Civil Action. CM/ECF Doc. 153 (on Pacer.gov), Legion Sys., LLC v. Valiant Glob. Def. Servs., Inc., No. 8:20-CV-2321-KKM-MRM (M.D. Fla. July 21, 2023)[Example] Subpoena to Appear and Testify at A Trial or Hearing in a Civil Action (directed to “Corporate Representatives of [Defendant] with the most knowledge concerning the matters identified in the attached Exhibit “A” c/o [Counsel for Defendant],” Legion Sys., LLC v. Valiant Glob. Def. Servs., Inc., No. 8:20-CV-2321-KKM-MRM, 2023 WL 4686245, at *2 (M.D. Fla. July 21, 2023), CM/ECF Doc. 153-1 (attaching FRCP 30(b)(6)-style topic list as Exhibit A to rule 45 subpoena)Bd. of Regents Univ. of Texas Sys. v. Bos. Sci. Corp., No. CV 18-392-GBW, 2023 WL 346243, at *2 (D. Del. Jan. 20, 2023) (“Out-of-Circuit caselaw, while more on point, has been inconsistent. In 1987, the Ninth Circuit held that a district court did not abuse its discretion when the court quashed a subpoena under Rule 45 directed towards a corporation because it had “discovered no authority ... for the proposition that the Rule 30 standards [that permit subpoenas upon a corporation] should govern Rule 45 subpoenas of witnesses.” Donoghue v. Orange Cnty., 848 F.2d 926, 932 (9th Cir. 1987). In 2013, a California district court distinguished the Ninth Circuit's ruling as having “emphasized a trial court's discretion” and as coming prior to 1991 amendments to Rule 45. See HTC Corp. v. Tech. Properties Ltd., 2013 WL 12166376, at *2 & n.9 (N.D. Cal. Sept. 20, 2013). That case relied, in part, see id., on a 2013 case, Conyers, in which a district court also required a corporate party to “comply with [a Rule 45] subpoena by producing its corporate representative at trial[,]” Conyers v. Balboa Ins. Co., 2013 WL 2450108, at *2 (M.D. Fla. June 5, 2013). However, the Sixth Circuit, in 2015, appeared to reject the Conyers decision and stated that a party which seeks to have a corporate representative testify at trial has two options: “subpoena a corporate witness who either ‘resides, is employed, or regularly transacts business in person' in [the state]” or “take[ ] a deposition of a corporate officer during discovery for its use at trial.” Hill v. Homeward Residential, Inc., 799 F.3d 544, 553 (6th Cir. 2015) (quoting Fed.R.Civ.P. 45(c)(1)(B)). The Sixth Circuit, however, held that the “subpoena failed several aspects” of Rule 45, and concluded that “the district court did not abuse its discretion in enforcing [Rule 45] as written.” Id. at 552–53")Hill v. Nat'l R. R. Passenger Corp., No. CIV. A. 88-5277, 1989 WL 87621, at *1 (E.D. La. July 28, 1989) (“Rule 30(b)(6) specifically applies to the deposition of a corporation. Rule 45 of the Federal Rules of Civil Procedure provides the proper procedure by which a person may be compelled to testify at a trial. There is no provision allowing the use of the 30(b)(6)-type designation of areas of inquiry or allowing service on a corporation through an agent for service of process in order to compel a particular person, who may be a corporate employee outside the subpoena power of the court, to testify at the trial. Further, plaintiff has not pointed the Court to any specific authority allowing such a procedure nor has the Court found any authority supporting the plaintiff's position. Accordingly, for the above and foregoing reasons, IT IS ORDERED that the motion of Amtrak to quash the subpoena directed to the National Railroad Passenger Corporation be hereby GRANTED and the subpoena is hereby QUASHED.”)Hill v. Homeward Residential, Inc., 799 F.3d 544, 553 (6th Cir. 2015) (finding that rules must be enforced as written, and rejecting what it called an effort to take a 30(b)(6) deposition in the middle of trial; held“Hill tries to avoid these conclusions by urging us to “temper[ ]” the “technical” Rules by interpreting them “through the lens of common sense.” Appellant Br. 24. But these rules were not made to be “tempered”; they were made to be “technical”—from the specific amount of fees tendered, to the court issuing the subpoena, to the geographic scope of the request. It is not surprising, then, that Hill can point to only one case that supports his position, Conyers v. Balboa Ins. Co., No. 8:12–CV–30–T–33EAJ, 2013 WL 2450108, at *1 (M.D.Fla. June 5, 2013) (using Rule 30 to expand Rule 45). Even if that case persuaded us that the Rules should be modified by judicial fiat, the district court did not abuse its discretion in enforcing them as written”)Smith v. Royal Caribbean Cruises, Ltd., 302 F.R.D. 688, 694 (S.D. Fla. 2014) (“Here, the use of a Rule 30(b)(6) notice upon unnamed Defendant corporative representatives, for designated testimony at trial, is both improper and ultimately unnecessary. Defendant must have a corporate representative at trial and certainly Plaintiff can call on that representative as a witness in his case in chief. By doing so, Plaintiff can obtain the testimony he now seeks through this notice. But what he cannot do is use a discovery device—a Rule 30(b)(6) notice—under the guise of a trial subpoena. The discovery period in the case is over and has been over since December 2013.”)Conyers v. Balboa Ins. Co., No. 8:12-CV-30-T-33EAJ, 2013 WL 2450108, at *2 (M.D. Fla. June 5, 2013) (“Thus, upon due consideration of the parties' arguments and the Court's evaluation of Rule 45, the Court determines that Balboa must comply with the subpoena by producing its corporate representative at trial and should promptly identify this individual so that Plaintiffs may pay the relevant fees associated with the corporate representative's travel and attendance at trial”)Williams v. Asplundh Tree Expert Co., No. 3:05CV479J33MCR, 2006 WL 2598758, at *3 (M.D. Fla. Sept. 11, 2006) (“As such, the Court holds that the corporate representative should be considered a “party” regardless of whether he/she is an officer of the company and should be produced even if he/she resides outside the 100 mile limit.”)Aristocrat Leisure Ltd. v. Deutsche Bank Tr. Co. Americas, 262 F.R.D. 293, 303 (S.D.N.Y. 2009) (“A different outcome is necessitated, however, for the subpoenas served on the corporate parties themselves. The Bondholders' objection to these subpoenas was raised only in vague terms in their moving papers and not fully addressed until reply briefing and subsequent letters to the Court.7 Regardless of whether this argument was raised in a timely manner (see infra n. 9) there is no basis under the 100–mile rule to quash the subpoenas seeking testimony of the Bondholders' corporate representatives. The Bondholders, as parties to this action, affirmatively have taken advantage of the benefits of this forum, and the Court has the power to require these parties to produce corporate representatives to testify on their behalf at trial.”)HTC Corp. v. Tech. Properties Ltd., No. 5:08-CV-00882-PSG, 2013 WL 12166376, at *2 (N.D. Cal. Sept. 20, 2013) (noting defendant's argument that “. . . Conyers v. Balboa Ins. Co., a recent case from the Middle District of Florida [is] persuasive authority that this court should deny a motion to quash a trial subpoena directed at an unnamed corporate representative;” concluding that “Rule 45 has indeed undergone both substantive and cosmetic revision since that opinion issued in 1987.9 Having reviewed Conyers as well as other more recent decisions addressing a subpoena seeking corporate testimony on listed topics from a third party located within the state of the court, the court finds that such a subpoena may be appropriately served without running afoul of the limits of Rule 45”)

Pemex restores production after explosion, America Movil secures USD 1bn financing, Unigel's bondholders hire advisors, and Bolivia sees 20-year low in monetary reserves. Also available in Spanish and Portuguese.

Ukraine accuses Nato of disrespect, Japan and Poland discuss security and business ties, Zambia begins debt restructuring talks, North Korea fires long-range missile, Taiwan detects Chinese air force planes, and Mexican drug gang organizes violent demonstration.

On this day, June 27th, in legal history, the Federal Housing Administration came into being. The Federal Housing Administration (FHA) was established in 1934 as part of President Franklin D. Roosevelt's New Deal program during the Great Depression. On June 27, 1934, the National Housing Act was passed which functionally created the FHA. The primary goal of the FHA was to stabilize the housing market and increase homeownership opportunities for Americans. It did so by providing mortgage insurance to lenders, enabling them to offer loans with lower down payments and longer repayment terms if those loans complied with certain underwriting conditions.The FHA played a significant role in expanding homeownership, particularly for low-income and first-time homebuyers who were previously unable to secure traditional mortgages. It introduced standardized underwriting guidelines, making it easier for lenders to assess borrower creditworthiness. Additionally, the FHA established regulations for home construction and safety standards to improve housing conditions.During its early years, the FHA primarily facilitated the construction of single-family homes. However, after World War II, it expanded its programs to include multi-family housing, aiding the construction of rental properties and helping address housing shortages.Over time, the FHA's role evolved, and it became a vital institution in the mortgage market, ensuring the availability of affordable home loans. However, it faced criticism for some of its practices, including redlining, a discriminatory practice that disproportionately affected minority communities by denying them access to mortgage loans.Despite its shortcomings, the FHA continues to operate today as part of the U.S. Department of Housing and Urban Development (HUD), supporting affordable housing initiatives and promoting access to mortgage financing for a wide range of borrowers.KPMG LLP, one of the Big Four accounting firms, is planning to lay off nearly 5% of its US workforce, amounting to approximately 2,000 positions, citing challenging economic conditions and low turnover rates. This marks the second round of layoffs for the firm in 2023 and deviates from its earlier strategy of offering incentives to retain employees during the "Great Resignation" trend. The job cuts are expected to be completed by late summer, and affected employees will receive severance packages and access to career services and healthcare benefits. KPMG's decision aligns with similar actions taken by competitors like Deloitte, Ernst & Young, and Grant Thornton, who have also reduced their consulting businesses due to declining demand. Despite the layoffs, KPMG reported a 14% increase in revenue for its US affiliate in the previous year and expressed optimism about future growth opportunities. The firm's leaders noted a significant disparity between workforce size and the resources required to deliver services, citing economic headwinds and low attrition rates as contributing factors. While staff in tax and audit practices received immediate notifications, professionals in the advisory business and other areas were told they would have to wait until later in the summer to learn their fate. Unlike its counterparts, PwC has not announced any layoffs driven by market conditions but instead informed its staff to expect bonus pay and merit raises, with increased in-office presence.KPMG Cutting US Workforce 5% in Second Round of 2023 Layoffs (1)The County of Los Angeles has severed ties with law firm Lewis Brisbois Bisgaard & Smith following the release of racist, sexist, and antisemitic emails by two former senior partners. The county will no longer assign new matters to the firm and will review existing cases to determine if they should be transferred to other outside lawyers on a case-by-case basis. County counsel Dawyn Harrison emphasized the importance of promoting inclusion, diversity, equity, and anti-racism in law firms contracted by the county. The LA County counsel's office assigns cases to contract law firms for various government departments and has an apportioned budget of around $186 million for the current fiscal year. Lewis Brisbois has represented clients such as the LA County's Metropolitan Transportation Authority, Sheriff's Department, and Board of Supervisors. The firm is currently in discussions with the county but declined to provide further comment. This development follows the departure of leaders from Lewis Brisbois' labor and employment group, who left to launch a competing firm and subsequently prompted the release of offensive emails. Lewis Brisbois, known for its work in insurance defense, has undergone leadership changes and is now led by managing partner Gregory Katz.LA County Cuts Ties With Lewis Brisbois After Racist Emails (1)Rite Aid, the drugstore chain burdened by a $2.9 billion debt, has ended its relationships with two law firms, Bradley Arant Boult Cummings and Littler Mendelson, due to personal connections between their partners and Rite Aid's former and current senior executives. The decision was made to ensure that "related persons" do not have a significant interest in the company's legal matters. Rite Aid cited the presence of the sister of its former chief legal officer at Bradley, which represented the company in opioid-related litigation, and a Littler partner who is the brother of Rite Aid's chief financial officer. The company did not disclose the names of the lawyers involved. Rite Aid recently appointed Christin Bassett as its acting legal chief following the departure of its former chief legal officer, Paul Gilbert. Thomas Sabatino Jr., previously the top lawyer at Tenneco Inc., will succeed Gilbert as the legal group leader. Rite Aid is currently dealing with various legal issues, including opioid litigation and a growing debt load. Bondholders have engaged Paul, Weiss, Rifkind, Wharton & Garrison as they prepare for discussions on restructuring the company's debt.Rite Aid Cuts Loose Law Firms With Personal Ties to ExecutivesThe U.S. Supreme Court has dismissed a Republican appeal to defend a Louisiana electoral map that was challenged as discriminatory. The map, drawn by the Republican-led state legislature, was accused of unlawfully discriminating based on race. A federal judge had ordered the creation of two congressional districts where Black voters would be the majority, potentially benefiting Democratic chances in the upcoming elections. The Supreme Court's dismissal allows the case to proceed before the 5th U.S. Circuit Court of Appeals in New Orleans for review before the 2024 congressional elections in Louisiana. Black voters and civil rights groups had sued, claiming that the map disenfranchised and discriminated against Black Louisianans by packing them into one district and diluting their voting power in others. The ruling follows a similar decision in an Alabama case, where the Supreme Court found that the Republican-drawn map violated the Voting Rights Act by diminishing the voting power of Black Alabamians.US Supreme Court tosses race-based dispute over Louisiana electoral map | ReutersThe U.S. Supreme Court has rejected an inventor's bid to challenge a patent ruling based on the grounds that one of the judges involved is facing a competency probe. Inventor Franz Wakefield argued that the investigation into Judge Pauline Newman of the U.S. Court of Appeals for the Federal Circuit raised concerns about due process and warranted a new hearing. However, the Supreme Court denied the petition without providing a written opinion. Wakefield had sued several tech companies for patent infringement, but the patent was invalidated in 2021 by a Delaware federal court and affirmed by a three-judge panel at the Federal Circuit that included Judge Newman. Wakefield claimed that the presence of a judge with a mental disability on the panel undermined the principle of a fair and impartial hearing. Judge Newman, who is 96 years old, has denied the claims and filed a lawsuit to halt the competency probe.US Supreme Court won't reconsider ruling by judge facing competency probe | ReutersIn this week's column, I lay out and compare some tax rates in the United States and Norway, pointing out that the top federal tax bracket in the US for 2023 is 37%, while in Norway, it reaches 55.8% – but the top US rate in 1944 was a staggering 94%, applied to income over $200,000 (equivalent to $3.45 million today). I acknowledge that advocating for such a high rate would be difficult. Instead, I propose a compromise: maintaining the current rate structure but adding a 100% tax rate for individuals earning over $1 billion.The proposed tax would apply to both income and capital gains, without any loopholes or exceptions. At the outset I acknowledge the complexity of implementing such a tax, given the intricacies of the US tax code, but I'd argue that the lack of proper regulation ensuring billionaires pay their fair share is a result of political unwillingness rather than administrative obstacles.There are a limited number of billionaires who earn over $1 billion per year in income, it is an elite group, and taxing just this elite group would generate relatively modest revenue (that is, approximately $6 billion per year). However, there are massive unrealized gains held by billionaires, which amount to around $2.7 trillion in the US. I thus suggest implementing a mark-to-market tax, requiring billionaires to recognize gains and losses on their investments at the end of each tax year.By applying a mark-to-market tax rate of 100% on gains and income above $1 billion, I argue that it would prevent the further growth of billionaires' wealth and could generate significant revenue. For example, if the year ended today, it could raise around $335 billion from the top billionaires alone. I conclude by highlighting the ease of administering such a targeted tax due to the relatively small number of billionaires in the US (724). That said, the main obstacle to implementing a 100% tax rate is not administrative feasibility but rather the political challenges and resistance from a nation that aspires to wealth. It's Time to Slap America's Billionaires With a 100% Tax Bracket Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

Samarco reaches restructuring agreement, Claro-VTR owners discuss short-term funding, Grupo Mexico gets concession extension and Digicel has more time to cure bonds default, among other topics.

Ben Harris, former Assistant Secretary for Economic Policy at the US Treasury, summarizes the latest proposal for raising the debt ceiling. An acceptable deal seems to be within reach but remains politically uncertain even as the x-date draws near.  What are the alternatives if no deal is reached?  And what could be the consequences for bondholders, Social Security recipients, and other stakeholders?  Ben joins Mark and Cris in a round of the Inside Economics Statistics Game and provides his views on the future of retirement financing.For more on Ben Harris, click hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

In Ghana, members of the Pensioner Bondholders Forum have returned to the premises of the Finance Ministry to demand payment of outstanding coupons on matured bonds.

Regional banks across the US have largely stopped the massive outflow of deposits after the collapse of Silicon Valley Bank, investors representing $4.5bn of wiped-out Credit Suisse bonds have filed a lawsuit against Switzerland's banking regulator, and the FT's Brooke Masters argues the US court battle over regulator approval of an abortion pill could have a chilling effect on the country's pharmaceutical industry. Mentioned in this podcast:Stability after SVB's collapse comes at a price for US regional banks Credit Suisse investors sue Swiss regulator over bond wipeoutThe abortion pill case is a disaster for innovation everywhereThe FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show's editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT's executive producer. The FT's global head of audio is Cheryl Brumley. The show's theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The triggering of a complete write-down of the nominal value of all Credit Suisse AT1 debt has come as a shock to some investors. Regulators took what some saw as an irregular move to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero, during UBS's rescue of Credit Suisse on the weekend of March 18/19.In this episode of Compliance Clarified, Alexander Robson, managing editor of Regulatory Intelligence in London, is joined by Helen Parry, senior regulatory intelligence expert in London to discuss contingent convertibles, otherwise known as CoCo bonds, and the reasons why regulators acted the way that they did.Under the deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in terms of who gets paid when a bank or company collapses, will receive $3.23 billion. The news hurt AT1 bonds issued by other European banks and they came under fresh selling pressure.If AT1s are converted into equity, this supports a bank's balance sheet. They also pave the way for a "bail-in", or a way for banks to transfer risks to investors and away from taxpayers if they get into trouble, according to rules that policymakers passed after the 2008 financial crisis.In Switzerland, the terms of the bonds stipulate that in a restructuring, the regulator is not obliged to stick to the traditional capital structure, which has spelt bad news for Credit Suisse bondholders. It has also raised eyebrows among other regulators elsewhere. PROGRAMME NOTESFINMA approves merger of UBS and Credit Suisse: www.finma.ch/en/news/2023/03/20230319-mm-cs-ubs/Factbox: Credit Suisse's troubles - spies, money laundering and takeover: www.reuters.com/business/finance/credit-suisses-troubles-spies-money-laundering-central-bank-cash-2023-03-16/How Credit Suisse has evolved over 167 years: www.reuters.com/business/finance/how-credit-suisse-has-evolved-over-167-years-2023-03-18/ (From behind the Regulatory Intelligence paywall)UBS faces huge cultural challenge in integrating Credit Suisse, say consultants: http://go-ri.tr.com/YI8NM3OPINION: Scale of U.S. banks' unrealized losses, distressed borrowing and central bank actions point to wider problems: http://go-ri.tr.com/oyHrxD Compliance Clarified is a podcast from Thomson Reuters Regulatory Intelligence.Listen to wide-ranging, insightful discussions on all things compliance for financial services firms. We delve into the hot topics of the day, the challenges faced and offer up practical ideas for emerging good practice. We de-mystify regulation and explore the art, as well as the science, of the ever-expanding role of the compliance officer.  Enforcements, digital transformation, regulatory change, governance, culture, conduct risk – anything and everything impacting the compliance function is up for discussion.

Big news this morning! The US Fed's raised interest rates by a quarter-point even despite the current bank turmoil. But it seems like something else is rattling market movements overnight.. Also, what are 10 bank stocks that look cheap today? Find out with Michelle Martin and Ryan Huang. See omnystudio.com/listener for privacy information.

Some Credit Suisse bond investors' stakes were wiped out as Swiss authorities facilitated the mega merger. Today's Stocks & Topics: Housing Sales, Interest Rates, Treasury Secretary Janet Yellen on Small Banks, Retirement, SWBI - Smith & Wesson Brands Inc., RIO - Rio Tinto PLC ADR, AVUV - Avantis U.S. Small-Cap Value ETF, VVR - Invesco Senior Income Trust, MSFT - Microsoft Corp., PAC - Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR, META - Meta Platforms Inc., TD Ameritrade, and Charles Schwab Merge. TRIVIA QUESTION: "What was the worst-paying job for a college degree holder-- five years after graduation?"Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

 We've held a second live webinar to discuss ongoing pressure on banks worldwide, underscored by the takeover of Credit Suisse* by UBS, which raises questions about the health of the sector, the treatment of bondholders and the global economic outlook.  This episode is a recording of that webinar with our clients, which took place on 17 March and was hosted by Sonja Laud, LGIM's Chief Investment Officer.  Sonja was joined by Colin Reedie, Head of Active Strategies; Christopher Jeffery, Head of Rates & Inflation Strategy; Dan Lustig, Senior Credit Analyst; and Tim Drayson, Head of Economics.  The webinar was moderated by Max Julius, Head of Content.  Follow us on LinkedIn and Twitter for our latest updates and discover the LGIM Blog for more insights from our investment team. Never miss another episode of LGIM Talks: hit subscribe in your Apple Podcasts, Spotify app or wherever you listen to podcasts.  For professional investors only. Capital at risk.  *For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an LGIM portfolio. The above information does not constitute a recommendation to buy or sell any security.

Yeap Junrong, Market Strategist, IG discusses the implications of the precedent set by regulators who chose to allow Credit Suisse Additional Tier 1 Bondholders to have their investments written off, while paying out shareholders.See omnystudio.com/listener for privacy information.

Singapore shares opened higher today, after US and Europe equities rose overnight. The Straits Times Index rose 0.8 per cent in early trade to 3,163.43 points after 73.6 million securities changed hands.  Further abroad, lawyers from Switzerland, the US and UK are talking to a number of Credit Suisse Additional Tier 1 (AT1) bondholders about possible legal action after the takeover by UBS wiped out AT1 bonds. But what can we expect on this front? On Market View, the Drive Time team posed these questions to Ken Shih, Head of Wealth Management, Greater China, SAXO Markets.  They also spoke about the impact of the banking crisis in the US and Europe on Asia, as well as whether Asia can be seen as a safe haven amid the ongoing volatilities.See omnystudio.com/listener for privacy information.

Each episode of Reorg's weekly EMEA Core Credit podcast series features detailed discussion on issues and companies across the #credit lifecycle. This week's podcast includes discussion of: - Primary highlights for the week; - The European fallout from the Silicon Valley Bank collapse; - Ukrainian metals and mining group Metinvest is scheduled to pay down one of its five eurobonds next month and a group of creditors sought an injunction against the company last week; and - The lenders of Luxembourg-based printing and packaging ink Flint Group are set to take control after rejecting shareholders' restructuring proposal. We're looking for feedback to improve the podcast experience! Please share your thoughts here: www.research.net/r/Reorg_podcast_survey #leveragedfinance #highyieldbonds #restructuring #debtrestructuring #distresseddebt #performingcredit #leveragedloans #highyield

Top 5 Most Read RNS's on Vox Markets for Friday 24th February 2023 5. Contango Holdings - Interim Results £7.5 million raised in October 2022 at 6p to support the Lubu Coal Project to first coking coal production from Q1 2023. MOU signed with a leading Multi-National Company for collaboration across coking coal and manufacture of coke at Lubu. Operating loss for the period was £1,786,947m. 4. IOG PLC #IOG - Board Changes IOG announces that Fiona MacAulay, who has been Chair of IOG since December 2018 has chosen not to stand for re-election as a director of the Company at the 2023 Annual General Meeting, which is expected in May. She will therefore be retiring as Chair and resigning as a Director following the AGM. It is the Board's intention that, following the AGM, Esa Ikaheimonen will become Chair of IOG initially on an interim basis. 3. Alien Metals #UFO - Exploration and Corporate Update Alien Metals announce that it has today published an updated presentation which is available on the Company's website, www.alienmetals.uk. Included in the presentation is a timeline for the development of the Hancock Project in 2023 which includes the objective of concluding a deal with Anglo America in Q3, along with a Native Title Agreement also targeted to conclude in Q3 with operations commencing thereafter. Furthermore an updated MRE on the Sirius Extension is expected in Q2 2023. 2. Canadian OverSeas Petroleum #COPL - Conversion of Bond Payments Canadian Overseas Petroleum has issued 20,390,014 common shares pursuant to the share settlement option exercised by certain Bondholders for settlement of approximately $1.7 million of Conversion Payment amounts due in respect of two converted 2024 Bonds and 11 converted 2025 Bonds. 1. Cineworld Group #CINE - Update on Chapter 11 cases Cineworld has been in discussions with its key stakeholders with a view to developing a plan of reorganisation that maximises value for the benefit of moviegoers, the Group and all other stakeholders, taken as a whole, in the long term. The Company does not believe that there will be sufficient creditor support for a Plan that contemplates any recovery for equity interests, and it is therefore not expected at this time that any Plan will provide any recovery for holders of Cineworld's existing equity interests.

Top 5 Most Read RNS's on Vox Markets for Friday 17th February 2023 5. Tekcapital #TEK - Guident Portfolio Company Update Tekcapital announce that Guident Ltd. has executed a letter of intent with Auve Tech to provide remote monitoring and control services for Auve Tech's autonomous vehicles. 4. Rambler Metals & Mining #RMM - Update on Financing and Operations While Rambler continues with discussions around its financial restructuring, it has made the decision to pause operations pending the delivery of key supplies to the mine. All operations will stop at 6.00am on 17 February 2023 and are planned to recommence on or before 24 February 2023. The mine will be fully maintained through this period. Rambler will provide updates to its operating status as appropriate. 3. Canadian Overseas Petroleum #COPL - Conversion of Bonds Canadian Overseas Petroleum has issued 6,317,119 common shares on February 9, 2023 pursuant to a conversion of $1,000,000 principal of 2024 Bonds by one Bondholder of the July 2022 Bond Issue. Following this conversion, a total of thirteen 2024 Bonds have had their principal amount converted into Shares. 2024 Convertible Bonds principal amount outstanding: $10.0 million (50 bonds) 2024 Bondholders: 5 2. Atlantic Lithium #ALL - Expression of Interest - Investment by MIIF Atlantic Lithium notes the announcement made by the Minerals Income Investment Fund of Ghana ("MIIF"), dated 16 February 2023, regarding its expression of interest to invest up to US$30m in the Company. The Company confirms that discussions are ongoing. 1. Harland & Wolff #HARL - Methil Update Harland & Wolff announces that, further to the announcement made on 30 December 2022 in relation to the termination of the Saipem project, negotiations have now successfully concluded with Saipem. The contract value has been finalised at £16m, representing approximately 70% of the contract value as per the deed of variation signed in September 2022 as part of descoping from eight jackets to four. The entire amount has now been paid in full and final settlement of the contract.

Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry.    Show highlights: the current state of the Bitcoin mining industry why miners have the lowest margin environment ever why there are so many mining rigs sitting latent how to calculate the profitability of mining cryptocurrency why miners are not moving to other countries for lower energy prices what the impact of a Core Scientific bankruptcy would be whether finance pools to aid struggling miners are helpful why some miners are succeeding in this environment whether Bitcoin miners can adopt renewable resources and help with the transition to green energy  how the mining industry is going to change in the following years Take the Unchained Podcast survey for 2022! Unchained is doing its annual survey. Tell us how you think we're doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts!    Thank you to our sponsors!Crypto.com Ava Labs DeFi Saver   Nick Twitter Luxor Technologies   Episode links   Troubled miners: Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes Bitcoin Miner Iris Energy Says Some Machines Aren't Covering Financing Costs Bitcoin Miner Argo Blockchain Fears Negative Cash Flow as $27M Raise Fails Bitcoin mining hosting company Compute North filed for Chapter 11 bankruptcy protection   Miners currently weathering the storm: Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions Bitcoin Miner Stronghold Digital Completes Debt Restructuring Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash-Flow Positive Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October  Green energy:Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market   Finance Pools: DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool Binance Pool To Support BTC Mining Industry With a $500M Miner Lending Project  

Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry.    Show highlights: the current state of the Bitcoin mining industry why miners have the lowest margin environment ever why there are so many mining rigs sitting latent how to calculate the profitability of mining cryptocurrency why miners are not moving to other countries for lower energy prices what the impact of a Core Scientific bankruptcy would be whether finance pools to aid struggling miners are helpful why some miners are succeeding in this environment whether Bitcoin miners can adopt renewable resources and help with the transition to green energy  how the mining industry is going to change in the following years Take the Unchained Podcast survey for 2022! Unchained is doing its annual survey. Tell us how you think we're doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts!    Thank you to our sponsors!Crypto.com Ava Labs DeFi Saver   Nick Twitter Luxor Technologies   Episode links   Troubled miners: Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes Bitcoin Miner Iris Energy Says Some Machines Aren't Covering Financing Costs Bitcoin Miner Argo Blockchain Fears Negative Cash Flow as $27M Raise Fails Bitcoin mining hosting company Compute North filed for Chapter 11 bankruptcy protection   Miners currently weathering the storm: Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions Bitcoin Miner Stronghold Digital Completes Debt Restructuring Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash-Flow Positive Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October  Green energy:Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market   Finance Pools: DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool Binance Pool To Support BTC Mining Industry With a $500M Miner Lending Project   Learn more about your ad choices. Visit megaphone.fm/adchoices

Ben Watkins, Director of the State of Florida's Bond Division, talks with Chip Barnett about the latest news coming out of the Sunshine State and takes a look at what's happening in Reedy Creek. He discusses Florida's bonding and debt, infrastructure plans and dives into the state's ESG priorities. (30 minutes)

Russia has rejected claims that it has defaulted on its external debt for the first time in more than a century, telling investors to go to Western financial agents for the cash that Moscow claims were sent but bondholders did not receive. The White House says that Russia had defaulted on its international bonds for the first time since the Bolshevik revolution, as sweeping sanctions amid Moscow's war on Ukraine have effectively cut the country off from the global financial system. Kremlin spokesperson Dmitry Peskov says the fact that Euroclear withheld this money and did not bring it to the recipients is not their problem.

In this episode of the PRI podcast, Jasper Cox, Investment Practices Analyst at the PRI, speaks with Camilla Ogunbiyi, Senior Sovereign ESG Analyst at Nordea Asset Management, and James Lockhart Smith, Vice President for Markets at Verisk Maplecroft. Sovereign nations are the ultimate guarantors of human rights, making the bonds they issue a logical focus for responsible investors. However, investors face unique challenges considering this topic in government debt. This podcast discusses the link between human rights and borrowing costs, how to find and use data on human rights, and engaging with countries on the subject. Find the podcast transcript here: https://bit.ly/3EL5J5Z

***NOTE: There are 12 zeros in a trillion, 9 in a billion and 6 in a million. I incorrectly stated 18 per trillion in the recording. Apologies.***What Is A Yield Curve?The Treasury yield curve is a graph that charts the interest rate on Treasury bonds, notes, and bills versus their maturity (time until they pay back principal).Normally it slopes upward, from left to right. When you think about it, it makes sense. Bondholders demand a higher rate of interest to lend money (i.e., hold bonds) for a longer period of time. What Is An Inverted Yield Curve?What Is An Inverted Yield Curve?When the curve is "inverted," it is downward sloping from left to right, which means you will be paid less to hold bonds for a longer time. This scenario makes no sense for the individual investor. Why would you invest to earn less interest on a 30-year bond than on a 2-year bond? In most cases, you wouldn't.Why Does An Inversion Matter?An inverted, 3month to 10year USTreasury yield curve has had strong predictive power that a recession is coming. Typically, the recession is roughly 2 years out.A normal, upward-sloping curve suggests that the economic outlook is positive. Better times are anticipated, and as one would expect, it costs more to borrow money for the long term, and one receives a higher rate of interest to invest long term.An inverted, downward-sloping curve suggests that the outlook is negative or the economy is slowing. Is This Time Different?In September of 2018, I wrote a post entitled "Is This Time Different?" which asked, "Does A Flattening Yield Curve Predict A Recession?"Rick Santelli of CNBC interviewed Arturo Estrella of the Federal Reserve Bank of New York. Estrella stated that an inverted yield curve between 3 month Treasury Bills and 10 Year Treasury Bonds had predicted all 7 U.S. recessions that have occurred since 1968.Currently, the 3mos/10yr remains positively sloped; the 2yr/10yr and 5yr/10yr are negatively sloped or inverted and the curve all the way from 10 years to 30 years is almost flat. The 2yr/10yr inversion has been less accurate at predicting a recession than the 3mos/10yr spread.What Are The Bond Gurus Saying?Mohamed El-Erian - AllianzStagflation is the baseline. This is the time to take some chips off the table.Jeff Gundlach - DoubleLine - “The New Bond King”Right on cue, the "It Doesn't Matter This Time" white papers are coming out, the DoubleLine Capital CEO tweeted. "Don't believe them."Bill Gross - PIMCO retired - “The Bond King”Bonds are definitely something to avoid.They (the Fed) are way behind the curve.If the ten year goes to 3, 3 1/2, or 4%, it will break the economy.50-100bps more from the Fed and we will see a recession.Inflation will be 4-5%.Bill Gross referring to Jeff Gudlach:To be a bond king, you have to have a kingdom. PIMCO was $1-2 trillion, Gundlach has $134 billion and is not growing.Central banks and governments are the new bond kings and queens. The term is somewhat passe.Bill Gross referring to Cathy Wood(Cathy Wood Is Taking Fire):She doesn’t have an excellent sense of value and when to buy and what to pay. She seems to think that down the road her theory will be validated.For a more technical discussion of the yield curve inversion please watch the following video:***NOTE: There are 12 zeros in a trillion, 9 in a billion and 6 in a million. I incorrectly stated 18 per trillion in the recording. Apologies.***The Author And Podcast Host, Tom LevineFollowing a 25 year career in capital markets, Tom Levine founded Zero Hour Group in 2014.The Los Angeles, California-based firm provides consulting, strategic analysis, and real estate services. Services are offered nationwide and across a variety of sectors. The firm's clients range from family offices and high net worth individuals to institutions and professional investors. Real Estate related transactions are brokered through our subsidary firms, Native Angelino Real Estate and WEHO Realtor.Tom Levine is a Native Angelino and graduate of USC Marshall School of Business, Claremont Colleges, and spent a term at the London School of Economics. Additionally, he is a certified Short Sale Specialist under the National Association of Realtors.PodcastThe Native Angelino Podcast is underwritten and produced in conjunction with the Zero Hour Group, a consulting and strategy firm, parent to 1929, Native Angelino Real Estate, and associated real estate assets.Native Angelino description found on iTunes:“From a vantage point within sight of the Hollywood Sign, seated beneath a palm tree, Tom Levine takes you on a twisted, exploratory tour of popular thought, the upside-down theories of classical economics, politics, and other strange things.Tom talks all things Los Angeles, bright new ideas, and complex topics of interest to creative thinkers and discerning skeptics.L.A. locals state with pride, "You can surf in the morning and ski in the afternoon." Well, if you get a really early start, it's true. Sometimes.Los Angeles is the City of the Angels, and Tom Levine is a Native Angelino. This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.1929.live/subscribe

$300 billion in debt 300 million poor still exist in China 30% of China economy is real-estate 70% of Chinese savings is in real-estate Gini coefficient U.S. 41.1 China 38 Property 1.4 million properties in suspended construction and or not started Ponzi scheme 90 million empty properties. Prices should fall People who bought properties are not in the same cities as where the properties were built 300 million poor not able to pay the rent How to protect investors and homeowners. Political dimension Stay in power by improving economics Can't print money without consequences- not world currencies Public not OK with house prices falling 20% drop already Protests in China want help from the government Turn into a national company? Forced restructuring Bondholders overseas Hong Kong 30 days before in default Foreign exposure Indicative of general China growth slowdown Power cuts around china No immigration Limited minority involvement in the economy Slow down from demographics Vietnam picking up China manufacturing South China sea tolerated because they are the growth engine --- Send in a voice message: https://anchor.fm/whiteguy/message Support this podcast: https://anchor.fm/whiteguy/support

As a second property giant fails to pay debt interest investors fear a property collapse in China's real estate bubble. On Monday, a Chinese developer of luxury apartments Fantasia missed a $315 million payments to lenders, sparking fears that financial strains in the country's overheated property sector are spreading beyond the troubled Evergrande's troubles. The FT reports that Beijing's crackdown on borrowing by property developers threatens to end China's love affair with London property. The latest Chinese debt-ridden property company is Fantasia Holdings, a Shenzhen-based developer which missed repaying $206 million worth of bonds that matured Monday. In a statement to the HK stock exchange, the company said it is assessing "the potential impact on the financial condition and cash position of the group,". Trading in shares, down by 80% this year, were suspended. The property management unit of Country Garden, China's second largest developer by sales after Evergrande, reported that Fantasia had failed to repay a company loan of about 700 million yuan ($109 million). Fantasia had informed the company that it would probably "default on [its] external debts," to Country Garden Services, according to CNN. Other Business News Johnson Promises Wage Boost. In a speech to the Conservative Party Conference in Manchester, Prime Minister Boris Johnson wants to end the UK's “low wage economy” fuelled by “uncontrolled immigration”.  Gas Prices Fall After Putin Boosts Production. UK wholesale gas prices dropped after hitting a record high after Russia announced a boost in supplies to Europe. Russia President Vladimir Putin calmed the market after gas prices had risen by 37% in 24 hours to trade at 400p per therm on Wednesday. The price fall will be welcome news to millions of British consumers facing record energy prices this winter. Consumer Price Rise Highest In 25 Years. Inflation fears as prices rise across the world, sparking fears of hyper-inflation caused by unprecedented money printing. Markets are predicting 6% inflation leading to ‘stagflation'. Facebook Restores Service After This Week's Outage. How did the social media downtime affect you? How much time do you spend on social media? Some people admit to more than 10 hours a day screentime, which you can check on most smartphones. If you are just using social media for entertainment, could you use your time more effectively? Can you make money on social media? YES! We can all learn to not only how to use social media,  but also how to make money on social media… "Stop Wasting Time On Social Media And Start Making Money Instead" You can learn how to make money on social media from my mentor Paul O'Mahony, founder of the ReThink Academy, who has made millions online starting from nothing. In this FREE webclass you're going to see: How to​ use the time you're already spending on the internet to build a digital business in your spare time. How to​ get a product to sell if you don't have one already and... how to get it for nothing. The exact strategy​ "he used to make my first million and quit my job permanently without a big budget, or any experience with social media." You'll discover all this and more when you watch the webclass below. I'M READY TO WATCH THE FREE TRAINING NOW! WATCH THIS TRAINING IF: You own a business. You want to own a business without quitting your job yet. You are serious about building a profitable online business. You're tired of wasting time on social media and want to make money instead. "Stop Wasting Time On Social Media And Start Making Money Instead" (even if you lack time, resources, experience, or expertise). I'M READY TO WATCH THE FREE TRAINING NOW! CLICK HERE TO WATCH https://bit.ly/38rzLvZ Spots Fill Up Fast - Limited Seats Available! #socialmediamarketing #makemoneyonline #WhatsApp #Facebook #gasprices #chinaproperty #stockmarket #propertybubble #evergrande #fantasia #stagflation See omnystudio.com/listener for privacy information.

As a second property giant fails to pay debt interest investors fear a property collapse in China's real estate bubble. On Monday, a Chinese developer of luxury apartments Fantasia missed a $315 million payments to lenders, sparking fears that financial strains in the country's overheated property sector are spreading beyond the troubled Evergrande's troubles. Other Business News Johnson Promises Wage Boost. In a speech to the Conservative Party Conference in Manchester, Prime Minister Boris Johnson wants to end the UK's “low wage economy” fuelled by “uncontrolled immigration”. Gas Prices Fall After Putin Boosts Production. UK wholesale gas prices dropped after hitting a record high after Russia announced a boost in supplies to Europe. Russia President Vladimir Putin calmed the market after gas prices had risen by 37% in 24 hours to trade at 400p per therm on Wednesday. The price fall will be welcome news to millions of British consumers facing record energy prices this winter. Consumer Price Rise Highest In 25 Years. Inflation fears as prices rise across the world, sparking fears of hyper-inflation caused by unprecedented money printing. Markets are predicting 6% inflation leading to ‘stagflation'. Facebook Restores Service After This Week's Outage. How did the social media downtime affect you? How much time do you spend on social media? Some people admit to more than 10 hours a day screentime, which you can check on most smartphones. If you are just using social media for entertainment, could you use your time more effectively? Can you make money on social media? YES! We can all learn to not only how to use social media, but also how to make money on social media… "Stop Wasting Time On Social Media And Start Making Money Instead" You can learn how to make money on social media from my mentor Paul O'Mahony, founder of the ReThink Academy, who has made millions online starting from nothing. In this FREE webclass you're going to see: · How to​ use the time you're already spending on the internet to build a digital business in your spare time. · How to​ get a product to sell if you don't have one already and... how to get it for nothing. · The exact strategy​ "he used to make my first million and quit my job permanently without a big budget, or any experience with social media." You'll discover all this and more when you watch the webclass below. I'M READY TO WATCH THE FREE TRAINING NOW! WATCH THIS TRAINING IF: · You own a business. · You want to own a business without quitting your job yet. · You are serious about building a profitable online business. · You're tired of wasting time on social media and want to make money instead. · "Stop Wasting Time On Social Media And Start Making Money Instead" (even if you lack time, resources, experience, or expertise). I'M READY TO WATCH THE FREE TRAINING NOW! CLICK HERE TO WATCH https://bit.ly/38rzLvZ Spots Fill Up Fast - Limited Seats Available!

The Aussie market has enjoyed a slight resurgence approaching lunch on news that Chinese property group Evergrande has negotiated a plan to repay bondholders. This has helped push commodity stocks higher with major mining and oil & gas providers among the most improved names so far today. This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.

The most astute investors in the world understand that there is no such thing as a risk-free investment. Every investment carries at least some risk; stocks, bonds, venture capital, real estate... even something as simple as keeping money in a bank.… they all carry some degree of risk. Sharp investors take steps to identify and hedge their risks, so if the worst happens, they'll still be protected. Stock market investors, for example, might purchase ‘put options' which increase in value in the event that their stocks fall. That way, if there's a crash, the investor is protected from any major losses. Bondholders often purchase credit default swaps, which is like an insurance policy in case the bond issuer defaults. And real estate investors routinely buy insurance to mitigate the risk of property damage caused by fire, flood, and hail. These are all sensible precautions that can dramatically reduce an investors' risk. And this is ultimately what a Plan B is all about-- taking sensible steps to reduce obvious, often substantial risks. Inflation is an easy example; we've long argued that misguided government and central bank policies (like paying people to stay home and NOT work, or conjuring trillions of dollars out of thin air) would eventually create painful levels of inflation. This was a significant risk, but one that could be mitigated with certain investments (like gold, which is up 16% since the start of the pandemic, or silver which is up nearly 60%.) But there are plenty of risks that don't have anything to do with money or finance. Over the past year, for example, we've seen an aggressive erosion of our freedom, angry mobs hijacking our children's education, increased tensions with China, etc. These are all obvious risks. And one type of ‘insurance policy' to protect against these sorts of non-financial risks is looking abroad and making sure that you and your family always have another place to go. That means having either a second passport, or at a minimum, legal residency in another country. Like any other insurance policy, you might never need to use it. No one goes to bed at night complaining that they haven't been able to ‘cash in' on their home's fire insurance policy. But if you ever really need it, you'll be extremely happy that you took the steps to set up residency in another country. Besides, there's very limited downside in having another option to travel and live somewhere, especially if it's a place that you and your family really enjoy spending time. This is the topic of our podcast today; Viktorija is actually in Panama at the moment applying for residency there, and she recently obtained legal residency in Mexico too. We talk about both of those, and much more. You can watch it here (on YouTube) or here (on SovereignMan.tv). Or can access the podcast here:

The most astute investors in the world understand that there is no such thing as a risk-free investment. Every investment carries at least some risk; stocks, bonds, venture capital, real estate... even something as simple as keeping money in a bank.… they all carry some degree of risk. Sharp investors take steps to identify and hedge their risks, so if the worst happens, they'll still be protected. Stock market investors, for example, might purchase ‘put options' which increase in value in the event that their stocks fall. That way, if there's a crash, the investor is protected from any major losses. Bondholders often purchase credit default swaps, which is like an insurance policy in case the bond issuer defaults. And real estate investors routinely buy insurance to mitigate the risk of property damage caused by fire, flood, and hail. These are all sensible precautions that can dramatically reduce an investors' risk. And this is ultimately what a Plan B is all about-- taking sensible steps to reduce obvious, often substantial risks. Inflation is an easy example; we've long argued that misguided government and central bank policies (like paying people to stay home and NOT work, or conjuring trillions of dollars out of thin air) would eventually create painful levels of inflation. This was a significant risk, but one that could be mitigated with certain investments (like gold, which is up 16% since the start of the pandemic, or silver which is up nearly 60%.) But there are plenty of risks that don't have anything to do with money or finance. Over the past year, for example, we've seen an aggressive erosion of our freedom, angry mobs hijacking our children's education, increased tensions with China, etc. These are all obvious risks. And one type of ‘insurance policy' to protect against these sorts of non-financial risks is looking abroad and making sure that you and your family always have another place to go. That means having either a second passport, or at a minimum, legal residency in another country. Like any other insurance policy, you might never need to use it. No one goes to bed at night complaining that they haven't been able to ‘cash in' on their home's fire insurance policy. But if you ever really need it, you'll be extremely happy that you took the steps to set up residency in another country. Besides, there's very limited downside in having another option to travel and live somewhere, especially if it's a place that you and your family really enjoy spending time. This is the topic of our podcast today; Viktorija is actually in Panama at the moment applying for residency there, and she recently obtained legal residency in Mexico too. We talk about both of those, and much more. You can watch it here (on YouTube) or here (on SovereignMan.tv). Or can access the podcast here:

The most astute investors in the world understand that there is no such thing as a risk-free investment. Every investment carries at least some risk; stocks, bonds, venture capital, real estate... even something as simple as keeping money in a bank.… they all carry some degree of risk. Sharp investors take steps to identify and hedge their risks, so if the worst happens, they'll still be protected. Stock market investors, for example, might purchase ‘put options' which increase in value in the event that their stocks fall. That way, if there's a crash, the investor is protected from any major losses. Bondholders often purchase credit default swaps, which is like an insurance policy in case the bond issuer defaults. And real estate investors routinely buy insurance to mitigate the risk of property damage caused by fire, flood, and hail. These are all sensible precautions that can dramatically reduce an investors' risk. And this is ultimately what a Plan B is all about-- taking sensible steps to reduce obvious, often substantial risks. Inflation is an easy example; we've long argued that misguided government and central bank policies (like paying people to stay home and NOT work, or conjuring trillions of dollars out of thin air) would eventually create painful levels of inflation. This was a significant risk, but one that could be mitigated with certain investments (like gold, which is up 16% since the start of the pandemic, or silver which is up nearly 60%.) But there are plenty of risks that don't have anything to do with money or finance. Over the past year, for example, we've seen an aggressive erosion of our freedom, angry mobs hijacking our children's education, increased tensions with China, etc. These are all obvious risks. And one type of ‘insurance policy' to protect against these sorts of non-financial risks is looking abroad and making sure that you and your family always have another place to go. That means having either a second passport, or at a minimum, legal residency in another country. Like any other insurance policy, you might never need to use it. No one goes to bed at night complaining that they haven't been able to ‘cash in' on their home's fire insurance policy. But if you ever really need it, you'll be extremely happy that you took the steps to set up residency in another country. Besides, there's very limited downside in having another option to travel and live somewhere, especially if it's a place that you and your family really enjoy spending time. This is the topic of our podcast today; Viktorija is actually in Panama at the moment applying for residency there, and she recently obtained legal residency in Mexico too. We talk about both of those, and much more. You can watch it here (on YouTube) or here (on SovereignMan.tv). Or can access the podcast here:

Until recent months bonds have been a positive investment, but that is changing. Is the Bond market ready to crash? Steve Forbes on the signs of trouble to come and why individual investors should stay out of bonds.Steve Forbes shares his What’s Ahead Spotlights each Tuesday, Thursday and Friday.

In this podcast, the PRI’s Carmen Nuzzo speaks with Farah Imrana Hussain who is Senior Financial Officer and works on Financial Products & Client Solutions at the World Bank Treasury. They discuss how sovereign bondholder engagement with debt management offices (DMOs) is evolving as a result of fixed income investor increasing focus on ESG topics.

The Middle East and North Africa (MENA) Region is vitally important to China, particularly as a source of oil but also increasingly as a staging ground for China's forays into global politics. Lucille Greer (@Lucille_Greer_), an expert on China-MENA relations, sheds light on a range of topics from the role of Xinjiang in China's Islamic world relations to the 'strategic alliance' between China and Iran. Lucille has written extensively on the topic, see for example, - "Last Among Equals: The China-Iran Partnership in a Regional Context,"- "Solidarity and Strain: China and the Middle East During COVID-19," - "The Chinese Islamic Association in the Arab World: the Use of Islamic Soft Power in Promoting Silence on Xinjiang," - "The Chinese Piece in Iran's War Games," and - "China's Bet on Assad: The Lucrative and Risky Business of Postwar Reconstruction."And check out our recommendations!Erik1) China Africa Project Podcast, Mark Bohlund "China, Bondholders, and the Worsening African Debt Crisis"2) The Joys of Cordless VaccuumsLucille1) Experts in related fields: Mohammed Turki Al-Sudairi (@MohammedSudairi), Wu BingBing (Peking U. Institute of Arab-Islamic Culture), Wang Suolao (Peking U. Center for Middle East Studies), Ariane Tabatabai (@ArianeTabatabai), Jonathan Fulton (@jonathanfulton), John Calabrese (American U. Middle East-Asia Project)2) All About China - Middle East Institute3) Bourse & Bazaar - an online hub for news, insights, research, and events on Iran4) CGTN Arabic music video on COVID-19 referenced during our interview Juliet 1) Bear Talk: Mandarin language podcast on a weird mix of technology insights, book reviews, and personal improvement tips - a good way for intermediate and advanced Mandarin speakers to get some listening practice in (and tune out of current events and politics)2) Sold Out: Rethinking Housing in America, a new podcast by KQED on California's housing crisis.

Zambia’s eurobonds slumped for a second day as the country as the country heads for a default amid a showdown with bondholders over its request for an interest payment holiday. Bank of Uganda said foreign banks lending to local companies do not fall under its jurisdiction, exonerating itself from blame after a high court ruled that a loan arranged by a Kenyan bank was illegal. De beers sold the most diamonds since the coronavirus crisis brought the industry to a halt, after price cuts and recovering demand lured buyers back. --- Support this podcast: https://anchor.fm/thekiso-anthony-lefifi/support

The debt crisis in Zambia got a lot worse this week after bondholders refused the government's request for a 6-month repayment delay. Those private creditors said they're frustrated by the government's lack of transparency about the total amount of debt and how much is truly owed to China.In Angola, investors are equally worried about the government's ability to service its debts given, $20.5 billion to China, given that the state-owned oil company Sonangol revealed that last year it generated no profits since all of the money went to pay for debt servicing costs. If Sonangol can't earn enough money to repay the country's loans, then it's effectively impossible for the country to get out of the financial hole it's in.Analysts predict that Zambia and Angola are just the first of a number of African countries that are facing either an outright default or an extended period of uncertainty that risks crippling their economies. Mark Bohlund is closely following the unfolding debt crisis as a senior credit research analyst for REDD Intelligence, a risk assessment service for asset managers. He joins Eric & Cobus from London to talk about the pivotal role that private creditors, specifically bondholders, now occupy in this increasingly grave situation.JOIN THE DISCUSSION:Facebook: www.facebook.com/ChinaAfricaProject Twitter: @ChinaAfrProject Mark Bohlund: LinkedIn | TwitterSUBSCRIBE TO THE CAP'S DAILY EMAIL NEWSLETTER FOR JUST $3 FOR 3 MONTHS.Your subscription supports independent journalism. Subscribers get the following:1. A daily email newsletter of the top China-Africa news.2. Access to the China-Africa Experts Network3. Unlimited access to the CAP's exclusive analysis content on chinaafricaproject.comTry it out for just $3 for 3 months: www.chinaafricaproject.com/subscribe

This week we hear a recent interview Money Metals president Stefan Gleason gave with Mountain West IRA on the ins and outs of how you can own physical precious metals inside a retirement account. | Do you own precious metals you would rather not sell, but need access to cash? Get Started Here: https://www.moneymetals.com/gold-loan

Après la course de Nascar et le travail commun de Ford et Fiat nous revoilà dans les monde de l'automobile. Bien moins joyeux cependant puisqu'on y découvre les difficultés de General Motors. La série Avec J'Améliore mon Anglais, prenez quelques minutes pour écouter un article de WikiNews accompagné de quelques mots de vocabulaire. Je termine le podcast en vous posant une question en anglais qui fait suite à l'histoire. Pour accéder à tous les épisodes, c'est par ici. Écouter le podcast Prêtez attention au vocabulaire et essayez d'anticiper l'histoire grâce au titre et au vocabulaire, ça vous aidera à comprendre le texte. Pour écouter le podcast, plusieurs options selon vos préférences. Vous aurez reconnu tout au début de cet article le lecteur du podcast en mp3 (audio). Vous êtes libre de l'écouter directement sur cette page-ci. Cliquez sur le bouton Play à gauche de la barre noire. Le télécharger pour l'écouter plus tard, ou l'écouter plusieurs fois. Cliquez sur Download sous la barre noire. Le vocabulaire de cet article Pour progresser en anglais si votre niveau le permet, écoutez le podcast, écrivez les mots et expressions que j'explique, puis vérifiez leur orthographe. Voici la liste des mots et expressions dont je vous parle dans le podcast. Si vous avez une mémoire visuelle, vous voudrez peut-être les lire avant d'écouter le podcast (ou pendant). Bondholders: les détenteurs d'obligations d'une société – qui ont prêté de l'argent Almost: presque A billion: un milliard A share: une action, une part de société Financial straits: difficultés financières A deadline: une date limite A plant: une usine A amount: une quantité To tender: donner, remettre A requirement: une exigence L'article WikiNews Bien sûr, rien de tel que de lire l'article en complément de l'écoute. Ainsi vous aurez la possibilité de vous pencher un peu plus sur la structure des phrases. Mais je vous recommande de pratiquer l'écoute un maximum, voire de rejouer le podcast plusieurs fois avant de lire l'article. Vous trouverez l'article ici. De quoi ça parle? (Spoiler alert!!) Selon votre niveau en anglais, vous aurez saisi plus ou moins de détails. Le plus important est de comprendre le sens de l'histoire. Et très souvent, après avoir compris le sens global, une deuxième écoute vous permettra de noter plus de détails. Résumé: General motors est en difficulté financière. Très grosse difficulté. Les prêteurs ne de bousculent pas au portillon, et le gouvernement a imposé des contraintes avant d'accepter de venir en aide à ce groupe automobile mythique. La banqueroute semble inévitable. Ma question: What do you think of big, historical companies failing after so much success?   Avez-vous compris l'histoire sans vous aider du résumé? Avez-vous su répondre à ma question?     L'article J'Améliore Mon Anglais – Episode 60 est apparu en premier sur Langonaute.

*Bond investors are concerned about California’s heat wave, rolling blackouts, and wildfires as the state struggles with its worst power crisis in nearly two decades.* *Today's Stocks & Topics: House Sales, IHS Markit Report, Russian Politics,* *PYPL - PayPal Holdings Inc., ENPH - Enphase Energy Inc., SCCO - Southern Copper Corp., Pullbacks, AMD - Advanced Micro Devices Inc.,* *ONEM - 1Life Healthcare Inc., The Dollar, KOS - Kosmos Energy Ltd., Stop-losses.* *TRIVIA QUESTION: "Can you specify the time period and name of the first American BUBBLE of the 20th century? And, historically, when did the earliest stock market bubble and market crash appear?* *Plus: Key Benchmark Numbers and Market Comments for: Oil, Gasoline, Gold, Silver and Treasury Yields.* Support this podcast at — https://redcircle.com/investtalk-investment-in-stock-market-financial-planning/donations Advertising Inquiries: https://redcircle.com/brands

The latest development in the Virgin Australia saga has unhappy bondholders confirming they will put their offer to creditors next month, despite Bain having already pumped millions into the airline to keep it afloat over the last few months. Join hosts Phil Tarrant, Christian "Boo" Boucousis and Adam Thorn as they recap this week's headlines on the Australian Aviation Podcast, including Brisbane's brand new billion-dollar runway, saying goodbye to the Qantas 747, and a changing of the guard at CASA. In this episode they'll also touch on a new Microsoft flight simulator program, the cause of the recent R44 rash in WA, and NSW's investment into an electric flying car testing facility.

Ten of Zambia’s international bondholders on Tuesday said they have formed a creditor group ahead of what is expected to be a complex restructuring of its debts. One of the world’s largest copper producers, Zambia owes money to four main types of creditor. It has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the IMF and World Bank and a further $3 billion to China. The new bondholder committee did not name any of its 10 members but said they were all based in the United States or Europe and in aggregate hold approximately 35% of the total amount of Zambia’s outstanding Eurodollar bonds. World Bank data estimates it added up to 45% of Zambia’s gross domestic product (GDP) last year, while its total debt stock was the equivalent to 89% of GDP. Learn more about your ad choices. Visit megaphone.fm/adchoices

The likes of Breadtalk and Perennial have either delisted or are looking to privatise, joining the ranks of NOL, CWT and Global Logistics Properties. But when shares are delisted, what happens to the bonds? In this podcast, credit research analyst Wong Hong Wei answers the following questions: Why do companies privatise? What are the repercussions for bondholders? Which area should you pay attention to if you are a bondholder?

The economic contraction caused by the COVID-19 pandemic is having a significant impact on US state and local government finances. Mayer Brown partners Joe Seliga, John Schmidt, David Narefsky, Sean Scott, Stephanie Wagner and Mitch Holzrichter discuss the fiscal realities now facing US state and local governments.

In one of the first episodes of Willis Talks, we get straight down to the serious issues. I'm joined by Dr Diana Taylor, Managing Director of Marketing Humber, otherwise known in the Humber region as Bondholders, and my colleague from Edenic Group, Rob Lewis. Diana talks to us about 'The Waterline', a campaign set up by Marketing Humber and the University of Hull to address the urgent need for decarbonisation in the Humber region. As the highest emitters of carbon in the UK, the Humber Region is at great risk of the effects of climate change and as a low lying estuary, the area is in serious danger of major flooding if we do not tackle this challenge head-on. Based on Bill Gates' 'Five Grand Challenges' The Waterline has been set up to explore innovation, ideas and bring the region together to find solutions for decarbonisation of the area. The Waterline Summit, an exhibition and seminar event has been set up to kick off the decarbonisation journey. Diana explains how we all need to unify and come together to address an issue that affects us all and help the Humber region be the catalyst for global change, as well as leverage the commercial opportunities that can come from meeting the climate change challenge, head-on.

Bondholders of a troubled student housing facility on the University of Oklahoma’s main campus have gone restricted to advance workout negotiations with management in a story penned by Debtwire's Maria Amante. Debtwire reporter Caitlin Devitt discusses how California’s charter schools may face a tougher time winning renewals and expanding under a pair of new regulations signed into law on 3 October by Governor Gavin Newsom (D). The National Law Enforcement Museum joins the ranks of municipal market projects - Bronx Parking and the National Sports Museum also come to mind – that failed soon after bonds to finance them were sold. Head of Municipal Research Greg Clark gives us his analyst snapshot.

The Reorg Europe team of analysts and editors discuss the Rallye legal proceedings and new developments for Galapagos bondholders. If you are not a Reorg subscriber, request access here: go.reorg-research.com/Podcast-Trial

Gema and Kenny join us again as we discuss recent events in Venezuela and Iran. What’s Left? Website: Podcasts: iTunes: stitcher: Googleplaymusic: Recommended Links: On Venezuela, Lavrov again warned the U.S. against any attempts to overthrow President Nicolás Maduro. Joanna Hausmann is lying about Venezuela The truth behind Maduro’s critic Joanna Hausmann NYT Helping Guaidó-Connected "Comedian" Shill For Regime Change In Venezuela Ricardo Hausmann’s 'Morning After' for Venezuela: The Neoliberal Brain Behind Juan Guaido’s Economic Agenda While online audiences know YouTube comedian Joanna Hausmann from her videos making the case for regime change, her economist father has flown below the radar. His record holds the key to understanding what the U.S. wants in Venezuela. Harvard Adviser to Venezuela’s Guaido Has Harsh Message for Bondholders Elliott Abrams, prominent D.C. neocon, named special envoy for Venezuela Who is Elliott Abrams, US special envoy for Venezuela?Abrams has a history of supporting interventionist policies in Latin America, including a role in the Iran-Contra affair Elliott Abrams, Trump’s Pick to Bring “Democracy” to Venezuela, Has Spent His Life Crushing Democracy Allan Nairn: Trump’s Venezuela Envoy Elliott Abrams Is a War Criminal Who Has Abetted Genocide

I recently read an article about a woman bemoaning the fact that she had been “cheated,” as her investment in General Motors bonds was about to become worthless. The system had failed her, she cried!

Cenveo Folds Chapter 11 Plan Around Deal With First Lien Bondholders by Debtwire Radio

Darrell Castle talks about Puerto Rico's desire to become the 51st state and what if anything it brings to the table.   Transcript PUERTO RICO WANTS TO BE THE 51st STATE Hello this is Darrell Castle with today's podcast. Today is Friday July 7, 2017 and on today's pod cast we will be talking about the territorial island of Puerto Rico, its debt and its desire to become the 51st state. On June 11th of this year a non-binding referendum was held in Puerto Rico concerning whether the Island should seek statehood in the United States or not. The ballot had three possible choices: become a state of the United States, become an independent nation, or remain in current status. 97% voted to become a state of the United States but only 23% of eligible voters actually voted. Four previous referendums have been held on the Island, the last in 2012 but this is the first time the vote for statehood was so overwhelming and part of our discussion will concern why. Puerto Rico currently has roughly 79 billion in debt in the form of bonds plus about 49 billion in unfunded liabilities primarily in the form of pension funds for government employees. These debts are unpayable have reached default status and earlier this year the Island requested bankruptcy protection but according to US law that protection is not available to Puerto Rico as a territory and not a state. Every Politician that I can account for in Puerto Rico wants statehood as does every Democrat politician on the mainland. Why, because it would provide access to U.S. Bankruptcy courts as it did for the city of Detroit a couple of years ago and it would provide a few million dependent Democrat votes as well as two more Democrat senators and a few more Democrat members of Congress. The current Puerto Rican debt is four times that of Detroit when that city went into bankruptcy. The newly elected governor of Puerto Rico is Ricardo Antonio Rossello . He was educated at the University of Michigan and M.I.T. where some of the smartest people in the country end up. He focused on research into stem cell technology and worked in that research at Duke University. He served as a delegate to the Democratic National Convention in 2008 and 2012 and founded an organization dedicated to statehood and that organization propelled him to the governor's office. The governor understands statehood to be the avenue of economic improvement for Puerto Rico and makes no secret of his desire for it. After the referendum, he was quoted as saying the United States Congress must listen to the unfettered will of the majority. He went on to talk about how the United States tries to spread democracy around the world so it simply must agree to the democratic will so close to home. However, it is not the governor of Puerto Rico who will decide this question, nor is it the majority of the people of Puerto Rico, but it is the U.S. Congress.  Yes, Congress makes the decision after consideration of all the factors including what the Puerto Rican people themselves want, what the bondholders want, what the Democrats want and what the Republicans want. I hope that Congress takes time to ask and to explore exactly what this island territory could add to the United States that we don't already have. The island is more than 100 billion in debt and the bondholders want to be paid or they want to execute on Puerto Rican assets and they know that with statehood and a legitimate bankruptcy filing they could not do that. They are all in on statehood but not until they have been paid. George Pataki, the former governor of New York, represents many of the bondholders and he supports statehood but not until his clients have been paid. So both sides claim statehood as the prize to be gained. Bondholders and their lobbyists say that statehood can come but not until they are paid. Governor Rosello says the bonds can be paid but not until statehood arrives. He says that Puerto Rico's territorial status limits opportunities for economi...

Patrick Jenkins and guests discuss two unsolicited bids for Worldpay, and the legal fight by Banco Popular bondholders against the so-called bail-in, while US banking editor Ben McLannahan talks to Chris Kotowski of Oppenheimer about the results of US stress tests. See acast.com/privacy for privacy and opt-out information.

Ricardo Hausmann, the director of the Center for International Development at Harvard's Kennedy School and Venezuela's former planning minister, discusses Venezuela's debt outlook and political climate. Ariel Cohen, a senior fellow at the Atlantic Council, grades Donald Trump's NATO visit and foreign tour. Bloomberg Intelligence's Vincent Piazza talks about his oil outlook following the OPEC meeting and ahead of the summer driving season. Finally, Ravi Saligram, CEO of Ritchie Bros. Auctioneers, discusses the recent acquisition of IronPlanet.

Fixed income investors have been watching developments from President Trump's new executive order that could pare down the Dodd-Frank Act and impact banks.

Patrick Jenkins and guests look at the big themes of the coming year, from the latest EU plan to bail in banks' bondholders, to how banks are tackling competition from the technology sector and how the regulatory climate is easing in the UK See acast.com/privacy for privacy and opt-out information.

The Kuwait Investment Authority is planning a $5bn investment in infrastructure assets, mostly in the UK, strategically changing the way they invest. Bank equities, particularly in the West, have become less attractive for this sovereign wealth fund, so is this a blow for George Osborne’s quest to reprivatise Lloyds and RBS? Sharlene Goff is joined by Patrick Jenkins, banking editor and Anne-Sylvaine Chassany, private equity correspondent, to discuss this, the Co-operative group’s debt restructuring plans, and Barclays’ latest spat with the regulator. See acast.com/privacy for privacy and opt-out information.