To get judgments against the borrowers, the judge said, a single Mel Harris employee named Todd Fabacher signed 40, 000 affidavits attesting to the accuracy of debt claims.
FORBES: Judge Allows RICO Suit Over Debt-Collection Tactics To Proceed
The customer for these services was Leucadia, a financial-services firm that bought hundreds of thousands of defaulted debt claims for pennies on the dollar and hired Mel Harris to recover what it could.
FORBES: Judge Allows RICO Suit Over Debt-Collection Tactics To Proceed
In fact, long-term debtholders who have debt claims against the bad bank and equity claims against the good bank will be better off under this plan than if the bank were liquidated or continued to operate as one bank.
One way to encourage them along the road to the financial guillotine would be through debt exchanges whereby their devalued bonds would be swapped for claims on debt guaranteed by the EFSF.
Under the reorganization plan, secured bank debt incurred before the bankruptcy as well as unsecured bond debt and certain general unsecured claims will be cancelled with those creditors receiving equity in the reorganized company.
The judge dismissed RICO claims against individual employees of the debt collection firms but allowed them to proceed against the companies.
FORBES: Judge Allows RICO Suit Over Debt-Collection Tactics To Proceed
The account is accumulating money that will be used to pay off the negotiated claims as well as cover the debt-relief company's charges.
In government-bond markets, China's support for wobblier states may well dwindle as 2013 gets nearer: then a new euro-zone sovereign-debt fund will be able to promote the claims of European governments on some countries above those of other creditors.
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The problem is this: even partial recognition of such a debt would create a precedent that could bring untold claims in its wake.
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One of the claims is that the state could exceed its debt limit by providing the liquor funds to JobsOhio.
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He also claims the US and Britain had a historic debt to pay as Pakistan had helped "win the Cold War" for the West.
Opponents question both the legality of the British and Dutch claims and the wisdom of taking on so much debt to meet them.
The foreigners have been chasing their claims since Argentina's government stopped servicing its debt more than three years ago, on December 23rd 2001.
The April downgrade by Moody's of Crown debt from B2 to Caa3 was in part because of future asbestos claims.
The case, which centered on Francis' claims that Wynn threatened to kill him over the gambling debt, is being appealed.
The company caters to fund managers and institutional investors trading in illiquid assets like private company stock, bankruptcy claims, loans, mortgage-backed securities and collateralized debt obligations.
Berlusconi left office in November 2011, facing claims of economic mismanagement as the eurozone struggled to contain Italy's debt crisis.
Mr Berlusconi, 76, left office in November 2011, facing claims of economic mismanagement as the eurozone struggled to contain Italy's debt crisis.
Icahn claims that as a result of Delphi's bankruptcy reorganization, the bank debt was converted into the right to receive 11 cents on the dollar plus additional but unspecified distributions based on future events.
These headwinds include a stubbornly high unemployment rate, a disturbing trend of increasing jobless claims, elevated commodity prices, a lackluster residential real estate and increasing sovereign debt problems overseas and, as previously discussed, on our homeland.
FORBES: Forget About The Debt Ceiling Debate, Where's The Economic Growth?
It claims to rank among the top four globally in mergers and acquisitions, and equity and debt underwriting, the classic investment-banking disciplines.
"The most material reasons are the level of household debt, the high level of public spending, and the inefficiency of the public sector, " he claims.
BBC: Budget 2013: Should the government plough ahead with cuts?
The ex-CFO claims to have acted with Skilling's tacit OK, using the instruments to hide vast Enron debt.
The next four largest claims are all held by Deutsche Bank Trust Company Americas, and represent another billion dollars in bond debt.
FORBES: MF Global Files For Bankruptcy, Owes $2.2 Billion To JP Morgan, Deutsche Bank
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