North America

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Argentina, Bondholder Talks With Mediator Rescheduled For Thursday

Settlement talks set for Wednesday between Argentina and bondholders who did not participate in the country's past debt restructuring have been rescheduled for Thursday, the court-appointed mediator said. Daniel Pollack, a New York lawyer appointed ...

Daily Headline - global.abi.org - 07/23/2014 - 21:27 - 0 comments

U.S. Judge Orders Argentina, Creditors To Meet Until Deal Reached

A U.S. judge ordered Argentina and investors who did not participate in the country's past debt restructurings to meet "continuously" with a court-appointed mediator until a settlement is reached, warning of the threat of a new default, Re ...

Daily Headline - global.abi.org - 07/22/2014 - 21:44 - 0 comments

Global Crackdown On Offshore Secret Tax Accounts Yields €37 Billion

Governments across the world have collected more than €37bn of tax from secret offshore accounts since 2009, it emerged on Monday as new details were unveiled of the next phase of the global crackdown on tax evasion, the Financial Times reported. The ...

Daily Headline - global.abi.org - 07/21/2014 - 18:47 - 0 comments

Judge Approves Chapter 15 Protection For Brazilian Bank

for Chapter 15 bankruptcy, which was filed on June 5, saying that the bank's foreign ...

Daily Headline - global.abi.org - 07/16/2014 - 22:05 - 0 comments

Ponderosa In Financial Trouble

Ponderosa Golf and Country Club in Peachland has money woes, again. The original Ponderosa fell into receivership years ago and was revived by Ponderosa Peachland Development, The Daily Courier reported. The new Ponderosa calls for a $1 billion maste ...

Daily Headline - global.abi.org - 07/13/2014 - 23:14 - 0 comments

Puerto Rico Restructuring Law to Face Constitutional Challenges

Puerto Rico is facing an impending fiscal crisis, brought on by the island’s US$73 billion in municipal debt. While the government is actively implementing reforms and engaging in tax hikes to address its overwhelming debt, such efforts are not likely ...

Resource Article - abi_admin - 07/10/2014 - 15:40 - 0 comments - 1 attachment

Creditors Offer Argentina Breathing Room In Debt Restructuring Dispute

Holdout investors who rejected Argentina’s debt restructurings in the wake of its $95bn default have said they are prepared to give Buenos Aires extra time to settle, but only if the country negotiates in good faith, the Financial Times reported. Arg ...

Daily Headline - global.abi.org - 07/07/2014 - 23:07 - 0 comments

Argentina Will Not Make Holdouts Offer On Monday

Argentina will not make a formal offer to settle its dispute with holdout investors in its sovereign debt at its meeting on Monday with a court-appointed mediator, an Argentine daily wrote on Saturday, citing Economy Ministry sources. After a string of a ...

Daily Headline - global.abi.org - 07/06/2014 - 21:58 - 0 comments

CRA FATCA Guidance Clarifies IGA Reporting Obligations

Canadian entities that could be subject to the U.S. Foreign Account Tax Compliance Act (FATCA), which takes effect July 1, 2014, will be interested in the CRA’s new guidance on Canada’s intergovernmental agreement (IGA) with the United States. This much- ...

Resource Article - twallace@abiwor... - 07/02/2014 - 10:23 - 0 comments - 0 attachments

Octaviar Revisited – Litigation Claim is Sufficient Basis to Obtain Chapter 15 Recognition of Australian Proceeding

On June 19, 2014, the U.S. Bankruptcy Court for the Southern District of New York in In re Octaviar Admin. Pty Ltd, Case No. 14-10438 (SCC) (Bankr. S.D.N.Y. June 19, 2014), ECF No. 18, granted the Foreign Representatives’ petition for recognition of the ...

Resource Article - twallace@abiwor... - 07/02/2014 - 10:06 - 0 comments - 0 attachments

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