Toxic Assets, What Toxic Assets? London Readies For Suits
The investor lawsuits, I believe, will largely center around investors claiming that these financial products where much more risky than represented by the investment banks that sold them.
Category: debt
UK Government and the “new deal” with credit card companies
By: Carsten Lexa In 2009 there were about 30 million credit card holders in the UK, holding about 58 million credit cards, down from 66 million credit cards in 2008. Beyond that, total household debt in the UK has reached a level of 1400 billion pounds sterling, of which 55 billion pounds sterling is on credit cards. When loooking at
Community banks taking major hit as U.S. Commercial Real Estate value drops
By: Eran D. Grossman, Esq. More problems are on the horizon between government regulators and local U.S. banks (smaller, regional and/or community banks) over how to handle falling commercial property values. Currently, banks are holding roughly $1.9 billion in commercial real estate loans, which equals about a quarter of all outstanding loans, according to Moody’s. The values of such loans
The US credit card business – Credit CARD Act 2009
By: Carsten Lexa On August 13th, 2009, I wrote an article here on Commercial Law International about the “secrets” of the US credit card business and about how the existing rules make it hard for customers to pay off their credit card debt. On November 3rd, 2009, I wrote in a the second article about a Goverment proposal regarding new legislation for
UK Office Of Fair Trading Reviewing The High Cost Of Business Insolvency
By: Ainsley Brown The Office of Fair Trading (OFT), the agency charged with policing trade practices – read unfair trade practices – has launched a study into the high cost associated with business insolvency. The study will focus on the way insolvency practitioners, namely accountants and lawyers are appointed and how they set their fees. The importance of the study
UK New Supreme Court Hands Down Its First Business Case Ruling: The Sigma SIV
By: Ainsley Brown The UK’s highest court, its new Supreme Court – new in name only, it still has the same functions as the old House of Lords – has handed down its first business case ruling. And it is a significant one, not just for those directly affected by the ruling but also within the wider UK and international
The US credit card business – reloaded
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. On August 13th, 2009, I wrote an article here on Commercial Law International about the “secrets” of the US credit card business and about how the existing rules make it hard for customers to pay off their credit card dept. Now, a new Goverment proposal tries to help customers to reduce their credit card
Lehman Brothers’ Europe Administrator Has A “Plan B” For Creditors
By: Ainsley Brown PricewaterhouseCoopers (PwC), the administrator for the European outfit of Lehman Brothers, has come up with a ‘Plan B’ to give out $17 billion to creditors. This after the High Court in England rejected a plan by PwC in August that would have freed up over $13 billion worth of assets. The court rejected the earlier plan because
Leicester Tigers To Float Debt
By: Ainsley Brown Yes that right, I am referring to the English Rugby team – the Leicester Tigers. Sorry but I just had to do this, being a rugby fan and all, I will make any excuse to write on the subject. The Leicester Tigers, the current Guinness Premiership – the English Rugby Union’s top competition – it would seem are planning to