Hints and tips:
...His co-founders, Marc Rowan and Josh Harris, each stand to receive more than $100mn, the lawsuit adds, with the remainder split between other executives....
...It has $32bn of net receivables and generates $3.3bn of income a year....
...Apollo told him: “Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management...
...The point is to highlight some of the issues arising in the under-appreciated art of receivables management. So here’s an idea....
...Och, a former star trader at Goldman Sachs, co-founded what was then known as Och-Ziff Capital Management in 1994 as a hedge fund investing across debt, equity and global macro....
...And Och picks Levin to be the firm’s co-chief investment officer. Ortenca tells me that these are pretty clear signals....
...In those transactions, a pool of assets — such as mortgages, credit card receivables or auto loans — are packaged together, with the interest payments funding new slices of debt that are sold on to investors...
...De Giorgi was most recently co-chief of Pegasus Europe, the blank-cheque company backed by Bernard Arnault and former UniCredit chief Jean Pierre Mustier....
...trading, traditional lending and credit-card receivables....
...GFG has denied wrongdoing and pledged to co-operate fully with the SFO probe....
...Whichever way, revenue is booked as receivables and squared off against payables, but no money ever has to change hands....
...Supply-chain finance obligations are typically booked through the “accounts payable” line of a company’s balance sheet, where they are co-mingled with all the other bills owed to suppliers....
...The Bahamas liquidators don’t seem especially eager to co-operate with Delaware lawyers....
...GFG has denied wrongdoing said it would “co-operate fully” with the probe....
...He joined Bitfinex soon after its founding that year, running its trading and risk management operations....
...Regulator BaFin said the Bremen-based lender “was unable to provide evidence of the existence of receivables in its balance sheet that it had purchased from the GFG Alliance Group”....
...What worried Joey Zwillinger, the co-founder, was the idea that as a C Corp a future management team could use the business judgment rule to dilute or even abandon Allbirds’ climate strategy....
...Vinay Mendonca, interim global co-head of trade and receivables finance at HSBC, says supply chain disruptions have contributed to longer payment-terms periods, lengthening them by about five to eight days...
...Auditors then uncovered an overstatement of THG’s profits that involved non-existent stock, unrecorded liabilities and disappearing receivables....
...In fact, as Vinay Mendonca, interim global co-head of trade and receivables finance at HSBC, pointed out, volatility within and between countries argues for doing more internationalisation, not less, to...
...Greensill fell into administration in March after its main coverage, provided by Tokio Marine unit The Bond & Credit Co, expired....
...receivables was.”...
...“This is a problem not only for the investors in receivables or receivable-backed assets linked to GFG entities, but also for [Greensill Capital] itself,” he said....
...“We will immediately contact the authorities to offer our co-operation in clarifying the facts within the scope of our legal possibilities,” said Holger Jenzen, partner at Ebner Stolz....
...But it added that its senior management was engaged in efforts to improve governance and control processes after problems were encountered at its Sydney-based subsidiary, the Bond & Credit Co, which provided...
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