Hints and tips:
...The settlement does not specify from whose cut the 4 bps decrease in interchange fees will come....
...If Nakabuye had been in charge, three demands would have figured more prominently: phasing out fossil fuel production, asking western creditors to cancel debts and calling on rich countries to follow through...
...Swipe fees — otherwise known as interchange fees — have long been a point of contention between merchants and credit card companies....
...Interchange fees are levied by Visa and Mastercard on behalf of lenders for debit or credit card payments carried out through their network....
...Middleton and Wong can try to persuade Evergrande’s mainland entities to strike a deal with offshore creditors....
...CBOE’s BZX equities exchange features in the second chart because of just one stock, CBOE Global Markets Inc. None of this constitutes a scoop, we’ll be honest, but it’s a Friday....
...“It seems to me that the interests of the creditors will be better protected if the Company is wound up by the court.”...
...Fraser is also trying to release Citi from a 2020 consent order with banking regulators that required it to upgrade processes and technology after it mistakenly wired $900mn to creditors of one of its clients...
...But overexpansion and a post-pandemic contraction in its market have left it desperate for cash to pay off creditors....
...But for creditors and customers, the history of leveraged retailer buyouts has been . . . mixed at best....
...Such loans take priority over other creditors and typically command high interest rates....
...with dealmakers What else Elon has lost Xavier Niel’s latest Italy deal rejected Dealmakers hit the links amid a mega golf deal Apollo Global has built a reputation on Wall Street for teeing off on creditors...
...As they point out, bankruptcy law strictly governs how intra-class creditors get treated (equally) and how inter-class allocations are made (senior creditors get paid in full before junior creditors)....
...Under the restructuring agreement announced on Wednesday, Bird will essentially be taken over by its creditors....
...Most of Evergrande’s assets are in mainland China, and offshore creditors are structurally subordinated to creditors onshore, where most of Evergrande’s $300bn in liabilities are owed....
...Smart reads Bankruptcy in Texas Houston has been a favoured city for cash-strapped companies and corporations with large legal liabilities to find shelter from creditors....
...EU regulation introduced in 2015 capped interchange fees at 0.2 per cent of the transaction value for debit cards and 0.3 per cent for credit card....
...Senior creditors will probably take losses....
...These interchange — or swipe — fees average 1.8 per cent per transaction in the US, according to payments consultancy firm CMSPI....
...Corporate creditors are also clients. Recent situations PJT has been involved with include WeWork, Carvana and Revlon....
...Digital Currency Group, Gemini and Genesis over alleged $1.1bn crypto fraud (FT) I Squared buys red London bus operator Arriva (FT) Chinese developer Country Garden misses payment on dollar bond, say creditors...
...One option is a restructuring that hands over some or all ownership to creditors. The alternative is to infuse more equity....
...A third space company, Launcher Inc, recently acquired by Vast, a private space station company, has bought Virgin Orbit’s launch site and lease in the Mojave desert for $2.7mn....
...IAG and Tokio Marine are among those being pursued by Greensill creditors, including Credit Suisse, in Australia’s federal court in a test case that will decide whether insurance policies that the collapsed...
...One rule of thumb is that creditors come before equity holders. (Please do read Sujeet’s book about distressed investing! It’s very good!) And really, it’s that way by design....
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