Friday, August 15, 2014

10:00 AM 8/15/2014: "...Puerto Rico, known more for its beaches than its eavesdropping..."(???!!!) - Where you're most likely to be wiretapped - Washington Post | Puerto Rico keeps the lights on, but debt crisis far from over - Reuters | Escándalos Fortaleza PR: Robo,Video Porno,Drogas,Alcohol - by Luis Anthony

Jugando Pelota Dura: Relación entre el estatus de Puerto Rico y la ciudadanía americana - YouTube

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Published on Aug 14, 2014
Los analistas constitucionalistas, el profesor Carlos Ramos y el licenciado Carlos Gorrín, analizan los efectos que podría tener un cambio en el estatus político de Puerto Rico en la ciudadanía americana de los puertorriqueños.

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Where you're most likely to be wiretapped
Washington Post
Caveat: The numbers in the chart include authorization for portable devices only, such as cell phones; the data doesn't include Washington, D.C. — a city known for its wiretaps — or Puerto Rico, known more for its beaches than its eavesdropping; and ...

Trip Tips: Latin Americans infuse New York with Hispanic culture - Reuters

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Trip Tips: Latin Americans infuse New York with Hispanic culture
Reuters
NEW YORK Aug 15 (Reuters) - Newcomers from Mexico and Central and South America are streaming into New York City in greater numbers, joining the long-standing communities ofPuerto Ricans and Dominicans and enriching the chorus of Latin voices in ...

and more »

Panama Canal turns 100, and gets ready for more - CBS News

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Bloomberg



Panama Canal turns 100, and gets ready for more
CBS News
Friday marks the centennial of the opening of the Panama Canal, an engineering marvel that permanently changed world trade and still plays an essential role in global commerce and promises to keep doing so in the future. But the history surrounding the ...
Panama Weighs Another Canal Expansion at Centennial MarkBloomberg
The Panama Canal Now for the next 100 yearsThe Economist
Panama Canal: Is another expansion in the cards?News & Observer

all 112 news articles »

RPT-INSIGHT-Puerto Rico keeps the lights on, but debt crisis far from over - Reuters

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Reuters UK



RPT-INSIGHT-Puerto Rico keeps the lights on, but debt crisis far from over
Reuters
Banks, led by Citibank and Canada's Scotiabank , on Thursday agreed to a seven-and-a-half month extension of $671 million in credit lines the Puerto Rico Electric Power Authority (Prepa) needs to buy oil that is essential to keep it operating. But they ...
Insight - Puerto Rico keeps the lights on, but debt crisis far from overReuters UK
Loan payment delayed for Puerto Rico power companyHouston Chronicle

all 85 news articles »

Puerto Rico man pleads guilty to bribing judge - MSN Money

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Puerto Rico man pleads guilty to bribing judge
MSN Money
SAN JUAN, Puerto Rico (AP) - A Puerto Rico businessman has pleaded guilty to bribing a Superior Court judge to secure his acquittal in a fatal drunk-driving case. Lutgardo Acevedo Lopez was accused of using intermediaries to pay $3,200 worth of taxes ...

and more »

A Chinese Man, A $50 Billion Plan, And A Canal To Reshape Nicaragua - NPR (blog)

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NPR (blog)



A Chinese Man, A $50 Billion Plan, And A Canal To Reshape Nicaragua
NPR (blog)
One hundred years ago today, the first ship passed through the brand-new, U.S.-built PanamaCanal; a century later Panama owns the canal outright, and the country is one of the most prosperous in the region. Panama's neighbor to the north, Nicaragua, ...
The Nicaragua Canal - a disaster in waiting?The Ecologist

all 9 news articles »
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PREPA reaches deal with creditors for payments due

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Claro connects 3 more sectors to broadband network
August 15, 2014
Telecommunications provider Claro de Puerto Rico announced Thursday it has added sectors in Yauco, Utuado and Naranjito ...

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Fourteen Indicted in Identity Theft Crackdown in Puerto Rico - Latin Post

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Latin Post



Fourteen Indicted in Identity Theft Crackdown in Puerto Rico
Latin Post
The Justice Department claims that between 2008 and 2014, defendants in the U.S. and Puerto Rico sold the identities and social security cards, Puerto Rico birth certificates and other identification documents of Puerto Rican U.S. citizens to ...
14 people charged with trafficking identities of Puerto Rican US citizensGovernment Security News

all 2 news articles »

Ukraine border guards to begin inspecting Russian aid convoy

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KIEV, Ukraine — Ukrainian border guards on Friday
prepared to inspect a vast convoy of Russian humanitarian aid bound for war-torn eastern Ukraine, in a compromise deal that eased the immediate prospect of a head-to-head confrontation between Russia and Ukraine.
Read full article >>

Puerto Rico keeps the lights on, but debt crisis far from over - Reuters

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Reuters



Puerto Rico keeps the lights on, but debt crisis far from over
Reuters
Prepa said earlier this year that about 55 percent of the island's electricity comes from oil. For the United States the figure is well below 1 percent. "The only way to solve this is take away the crack, oil, from Prepa," said Luis Fortuno, who was ...

Cristina Fernández reafirma que Argentina pagará su deuda

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La presidenta de Argentina, Cristina Fernández, reiteró el compromiso de su gobierno de pagar el cien por ciento de su deuda soberana a sus acreedores. teleSUR http://multimedia.telesurtv.net/web...
From: teleSUR tv
Views: 0
    
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Time: 00:45More in News & Politic

Published on Aug 14, 2014
Gary Rodríguez le canta las Verdades en la cara al Gobierno Chatarra PPD.
Robo Del Siglo del PPD - 2001 A 2008 - $14 Billones - 257,000 Mil Contratos, Sin Obras Ni Progreso para ti ni para Puerto Rico, Cerraron El Gobierno. #ELAChatarraPPD

Agosto 14, 2014
Por Pégate al Medio Día

El Guitarreño: ¿Dónde están las Obras del PPD? 

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Gary Rodríguez le canta las Verdades en la cara al Gobierno Chatarra PPD. Robo Del Siglo del PPD - 2001 A 2008 - $14 Billones - 257000 Mil Contratos, Sin Obras Ni Progreso para ti ni para...
From: Luis Anthony
Views: 4
    
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Time: 06:13More in News & Politics


Published on Aug 14, 2014
Puerto Rico Agosto 14, 2014 - Contra Darwin Conde Camacho Un exchofer de La Fortaleza enfrenta seis cargos criminales por apropiación ilegal agravada por retener ilegalmente una tarjeta destinada para el expendió de gasolina para vehículos oficiales y utilizarla para abastecer su carro personal y el de terceros. Los hechos, que fueron admitidos por Conde Camacho en declaración jurada, conllevaron una pérdida de fondos públicos de $16,864.43.

Escándalos Fortaleza PR: Robo,Video Porno,Drogas,Alcohol

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Puerto Rico Agosto 14, 2014 - Contra Darwin Conde Camacho Un exchofer de La Fortaleza enfrenta seis cargos criminales por apropiación ilegal agravada por retener ilegalmente una tarjeta destinada...
From: Luis Anthony
Views: 0
    
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Time: 07:14More in News & Politics

Loan Payment Delayed for Puerto Rico Power Company - ABC News

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Loan Payment Delayed for Puerto Rico Power Company
ABC News
Puerto Rico's financially struggling public power company won a big reprieve Thursday, announcing that creditors agreed to postpone payment of $671 million worth of bank loans until next year. It was the third time this year that creditors allowed the ...

and more »

Puerto Rico customs seize counterfeit merchandise

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SAN JUAN, Puerto Rico -- US Customs and Border Protection San Juan field operations officers and import specialists this past weekend seized various courier consignments that contained counterfeit speakers, car beepers, iPhone parts, cell phone front screens, USB cables and wrist-watches.

Puerto Rico Power Supplier Saved From Cash Squeeze

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Lenders to the Puerto Rico Electric Power
Authority gave it a breather instead of enforcing a looming deadline.

UPDATE 2-Puerto Rico's power authority to work on restructuring plan - Reuters

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UPDATE 2-Puerto Rico's power authority to work on restructuring plan
Reuters
It pledged to appoint a chief restructuring officer by Sept. 8. Thursday's deal includes bondholders currently suing Puerto Rico over a new law that provides a legal framework for some public corporations to enter a bankruptcy-type process, PREPA said ...

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Russia Will Do All It Can to End Ukraine’s Conflict, Putin Says

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Russian President Vladimir Putin said on Thursday his country will do everything possible to end the conflict in eastern Ukraine, during a meeting with parliament members in the autonomous peninsula of Crimea that Russia annexed from Ukraine in March.

Calm Prevails in Gaza after Brief Outbreak of Fighting

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Calm prevailed on Thursday in Gaza as a new five-day truce agreed between Israel and Palestinian militias took effect after a brief outbreak of hostilities overnight in which no casualties were reported.

Puerto Rico's power authority to work on restructuring plan - Reuters

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Puerto Rico's power authority to work on restructuring plan
Reuters
NEW YORK (Reuters) - Puerto Rico's electric power authority PREPA struck a deal with bondholders on Thursday to develop a restructuring plan to revive the debt-stricken utility as it won an extension of vital lines of credit it uses to buy oil. PREPA ...

Prepa gets lifelines from banks and bondholders in exchange for

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Old City’s iconic Mallorquina reopening
Old San Juan’s iconic La Mallorquina is set to reopen under new ownership in October nearly three years after the historic restaurant was sh ...
Rob Manfred elected next MLB commissioner
BALTIMORE — Rob Manfred was elected baseball's 10th commissioner Thursday, winning a three-man race to succeed Bud Selig and given a man ...
Argentina seeks charges in US firm's plant closing
Issued: August 14, 2014
BUENOS AIRES, Argentina — The government of Argentina will seek criminal charges against representatives of a U.S.-based global printing com ...

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Jugando Pelota Dura: Relación entre el estatus de Puerto Rico y la ciudadanía americana 

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Los analistas constitucionalistas, el profesor Carlos Ramos y el licenciado Carlos Gorrín, analizan los efectos que podría tener un cambio en el estatus político de Puerto Rico en la ciudadanía...
Views: 1
    
ratings
Time: 13:53More in News & Politics

“A Clockwork Orange” in America’s penal system:

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The 1962 classic dystopian novel that high school students across the country still begrudgingly read, A Clockwork Orange, is the thrilling tale of juvenile delinquency featuring violent exploits and objectionable language. However, besides Anthony...

Radican cargos por apropiación ilegal a exchofer de Fortaleza

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“Para el mes de febrero de 2014 el imputado Darwin Conde Camacho se apropió ilegalmente de una tarjeta del Gobierno para abastecer de combustible a la flota de vehículos oficiales asignada a La Fortaleza."

Inside the ISIS militant operation 

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VICE News provides an unprecedented look inside the operations of ISIS. See the full documentary here: https://news.vice.com/video/the-islamic-state-full-length.
Views: 13
    
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Time: 01:46More in News & Politics

Presidente de Colombia ve con buenos ojos uso terapéutico de marihuana 

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El mandatario colombiano, Juan Manuel Santos, aseguró que su país ha "gastado billones de dólares en una guerra que en cierta forma ha resultado inefectiva. Que nadamás en Méxicvo ha dejado...
From: teleSUR tv
Views: 8
    
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Time: 02:31More in News & Politics

Se duplican casos de Chikungunya

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Estos números se basan en las estadísticas del propio Departamento de Salud.
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Puerto Rico businessman acquitted in drunk-driving case pleads guilty to ... - Fox News

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Puerto Rico businessman acquitted in drunk-driving case pleads guilty to ...
Fox News
SAN JUAN, Puerto Rico – A Puerto Rico businessman has pleaded guilty to bribing a Superior Court judge to secure his acquittal in a fatal drunk-driving case. Lutgardo Acevedo Lopez wasaccused of using intermediaries to pay $3,200 worth of taxes owed ...

and more »

Puerto Rico PREPA Utility Announces Creditor Agreement, Extension - Barron's (blog)

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Puerto Rico PREPA Utility Announces Creditor Agreement, Extension
Barron's (blog)
Puerto Rico's PREPA electric utility just released a statement saying it's reached an agreement with creditors, on the day of a deadline to extend its credit, that further extends its credit and will lead to the appointing of a chief restructuring ...

Puerto Rico's power authority gets credit lifeline - Reuters

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Puerto Rico's power authority gets credit lifeline
Reuters
PREPA, with around $9 billion of debt, is widely viewed to be in the weakest condition of Puerto Rico's highway, water and electricity agencies. A restructuring of its debt, moving to cheaper fuel and cutting jobs are seen as vital to its longer-term ...

Loan Payment Delayed for Puerto Rico Power Company - ABC News

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CNBC


Loan Payment Delayed for Puerto Rico Power Company
ABC News
Puerto Rico's financially struggling power company has won a big reprieve, announcing that creditors have allowed it to postpone payment of $671 million worth of loans until next year. The state-owned Electric Power Authority said Thursday that ...
Puerto Rico's power authority gets credit lifelineMSN Money
Fitch: Shifting Investor Mix Bifurcates Puerto Rican Bond MarketBusiness Wire (press release)
Ring the Alarm Bells Over Puerto Rico | CommentaryRoll Call
Barron's (blog)
all 40 news articles »

Puerto Rico's power authority gets credit lifeline - MSN Money

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Puerto Rico's power authority gets credit lifeline
MSN Money
Aug 14 (Reuters) - Puerto Rico's electric power authority PREPA on Thursday received an extension of vital lines of credit which it uses to buy oil and agreed with bondholders to develop a restructuring plan to revive the debt-stricken utility. PREPA ...

Puerto Rico man pleads guilty to bribing judge - Modesto Bee

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Puerto Rico man pleads guilty to bribing judge
Modesto Bee
SAN JUAN, Puerto Rico — A Puerto Rico businessman has pleaded guilty to bribing a Superior Court judge to secure his acquittal in a fatal drunk-driving case. Lutgardo Acevedo Lopez wasaccused of using intermediaries to pay $3,200 worth of taxes owed ...

and more »
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Puerto Rico Electric Authority Gets Bank Loans Extended to March - Bloomberg

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Puerto Rico Electric Authority Gets Bank Loans Extended to March
Bloomberg
The Puerto Rico Electric Power Authority, the main supplier of electricity in the struggling U.S. territory, has agreed with creditors to delay repayment of bank loans until March, the utility said. The agency, known as Prepa, uses the lines of credit ...

Puerto Rico electric utility to pay ABR plus 4 pct on credit lines -filing - Reuters

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Puerto Rico electric utility to pay ABR plus 4 pct on credit lines -filing
Reuters
NEW YORK Aug 14 (Reuters) - Puerto Rico's electric power authority, known as PREPA, will pay an interest rate of alternate base rate (ABR) plus 4 percent under credit agreements with Scotiabank and Citibank, the utility said in a filing on Thursday.

Loan payment delayed for Puerto Rico power company - Washington Post

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Loan payment delayed for Puerto Rico power company
Washington Post
SAN JUAN, Puerto Rico — Puerto Rico's financially struggling public power company won a big reprieve Thursday, announcing that creditors agreed to postpone payment of $671 million worth of bank loans until next year. It was the third time this year ...

and more »

Puerto Rico Power Buys Time From Creditors - Wall Street Journal

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Puerto Rico Power Buys Time From Creditors
Wall Street Journal
The Puerto Rico Electric Power Authority reached a deal with creditors that the cash-strapped utility said gives it time to restructure its business. The authority, known as Prepa, said that as part of the agreement, it has committed to appoint a chief ...

Why military equipment is in the hands of local police

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Violent clashes between local police and protesters in Ferguson, Missouri, has highlighted the distribution of military equipment to police departments around the country from the U.S. Defense...
From: PBS NewsHour
Views: 0
    
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Time: 05:21

Mike Nova's Shared NewsLinks Review

From The Major News Sources

» Se duplican casos de Chikungunya
15/08/14 11:21 from Mike Nova's Shared Newslinks
mikenova shared this story from Telemundo Puerto Rico - Telenoticias - Puerto Rico. Estos números se basan en las estadísticas del propio Departamento de Salud.
» Puerto Rico businessman acquitted in drunk-driving case pleads guilty to ... - Fox News
15/08/14 11:21 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. Puerto Rico businessman acquitted in drunk-driving case pleads guilty to ... Fox News SAN JUAN, Puerto Rico – A Puerto Rico businessman has pleaded guilty to bribi...
» Puerto Rico PREPA Utility Announces Creditor Agreement, Extension - Barron's (blog)
15/08/14 11:20 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rico - Google News. Puerto Rico PREPA Utility Announces Creditor Agreement, Extension Barron's (blog) Puerto Rico's PREPA electric utility just released a statement saying it's reached an agreement ...
» Puerto Rico's power authority gets credit lifeline - Reuters
15/08/14 11:20 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in usa - Google News. Puerto Rico's power authority gets credit lifeline Reuters PREPA, with around $9 billion of debt, is widely viewed to be in the weakest condition of Puerto Rico...
» Loan Payment Delayed for Puerto Rico Power Company - ABC News
15/08/14 11:20 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Economy and Business News Review. CNBC Loan Payment Delayed for Puerto Rico Power Company ABC News Puerto Rico's financially struggling power company has won a big reprieve, announcing that creditors ha...
» Puerto Rico's power authority gets credit lifeline - MSN Money
15/08/14 11:20 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Economy and Business News Review. Puerto Rico's power authority gets credit lifeline MSN Money Aug 14 (Reuters) - Puerto Rico's electric power authority PREPA on Thursday received an extension of vital ...
» Puerto Rico man pleads guilty to bribing judge - Modesto Bee
15/08/14 11:20 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. Puerto Rico man pleads guilty to bribing judge Modesto Bee SAN JUAN, Puerto Rico — A Puerto Rico businessman has pleaded guilty to bribing a Superior Court judge t...
» Puerto Rico Electric Authority Gets Bank Loans Extended to March - Bloomberg
15/08/14 11:19 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rico - Google News. Puerto Rico Electric Authority Gets Bank Loans Extended to March Bloomberg The Puerto Rico Electric Power Authority, the main supplier of electricity in the struggling U.S. terri...
» Puerto Rico electric utility to pay ABR plus 4 pct on credit lines -filing - Reuters
15/08/14 11:19 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in usa - Google News. Puerto Rico electric utility to pay ABR plus 4 pct on credit lines -filing Reuters NEW YORK Aug 14 (Reuters) - Puerto Rico's electric power authority, known as ...
» Loan payment delayed for Puerto Rico power company - Washington Post
15/08/14 11:18 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Economy and Business News Review. Loan payment delayed for Puerto Rico power company Washington Post SAN JUAN, Puerto Rico — Puerto Rico's financially struggling public power company won a big reprieve ...
» Puerto Rico Power Buys Time From Creditors - Wall Street Journal
15/08/14 11:18 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rico - Google News. Puerto Rico Power Buys Time From Creditors Wall Street Journal The Puerto Rico Electric Power Authority reached a deal with creditors that the cash-strapped utility said gives it...
» Why military equipment is in the hands of local police
15/08/14 11:17 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Videos - Review. Why military equipment is in the hands of local police Violent clashes between local police and protesters in Ferguson, Missouri, has highlighted the distribution of military equipment ...
» Escándalos Fortaleza PR: Robo,Video Porno,Drogas,Alcohol - YouTube
15/08/14 11:12 from Mike Nova's Shared Newslinks
mikenova shared this story . Published on Aug 14, 2014 Puerto Rico Agosto 14, 2014 - Contra Darwin Conde Camacho Un exchofer de La Fortaleza enfrenta seis cargos criminales por apropiación ilegal agravada por retener ilegalmente una...
» Escándalos Fortaleza PR: Robo,Video Porno,Drogas,Alcohol
15/08/14 11:11 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Videos - Review. Escándalos Fortaleza PR: Robo,Video Porno,Drogas,Alcohol Puerto Rico Agosto 14, 2014 - Contra Darwin Conde Camacho Un exchofer de La Fortaleza enfrenta seis cargos criminales por...
» Puerto Rico customs seize counterfeit merchandise
15/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from Puerto Rico Newswire. SAN JUAN, Puerto Rico -- US Customs and Border Protection San Juan field operations officers and import specialists this past weekend seized various courier consignments that containe...
» Puerto Rico Power Supplier Saved From Cash Squeeze
15/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from NYT > Puerto Rico. Lenders to the The Puerto Rico Electric Power Authority gave it a breather instead of enforcing a looming deadline. Authority, which uses credit to buy fuel for its plants, received a...
» UPDATE 2-Puerto Rico's power authority to work on restructuring plan - Reuters
15/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in usa - Google News. CNBC UPDATE 2- Puerto Rico's power authority to work on restructuring plan Reuters It pledged to appoint a chief restructuring officer by Sept. 8. Thursday's de...
» Russia Will Do All It Can to End Ukraine’s Conflict, Putin Says
15/08/14 11:09 from Mike Nova's Shared Newslinks
mikenova shared this story from Latin American Herald Tribune. Russian President Vladimir Putin said on Thursday his country will do everything possible to end the conflict in eastern Ukraine, during a meeting with parliament members in ...
» Calm Prevails in Gaza after Brief Outbreak of Fighting
15/08/14 11:09 from Mike Nova's Shared Newslinks
mikenova shared this story from Latin American Herald Tribune. Calm prevailed on Thursday in Gaza as a new five-day truce agreed between Israel and Palestinian militias took effect after a brief outbreak of hostilities overnight in which...
» Puerto Rico's power authority to work on restructuring plan - Reuters
15/08/14 11:09 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rico - Google News. Puerto Rico's power authority to work on restructuring plan Reuters NEW YORK (Reuters) - Puerto Rico's electric power authority PREPA struck a deal with bondholders on Thursday t...
» Prepa gets lifelines from banks and bondholders in exchange for
15/08/14 11:08 from Mike Nova's Shared Newslinks
mikenova shared this story from Caribbean Business. Prepa gets lifelines from banks and bondholders in exchange for reforms Old City’s iconic Mallorquina reopening Old San Juan’s iconic La Mallorquina is set to reopen under new ownership...
» El Guitarreño: ¿Dónde están las Obras del PPD? - YouTube
15/08/14 11:05 from Mike Nova's Shared Newslinks
mikenova shared this story . Published on Aug 14, 2014 Gary Rodríguez le canta las Verdades en la cara al Gobierno Chatarra PPD. Robo Del Siglo del PPD - 2001 A 2008 - $14 Billones - 257,000 Mil Contratos, Sin Obras Ni Progreso para...
» El Guitarreño: ¿Dónde están las Obras del PPD?
15/08/14 11:04 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Videos - Review. El Guitarreño: ¿Dónde están las Obras del PPD? Gary Rodríguez le canta las Verdades en la cara al Gobierno Chatarra PPD. Robo Del Siglo del PPD - 2001...
» Puerto Rico keeps the lights on, but debt crisis far from over - Reuters
15/08/14 11:00 from Mike Nova's Shared Newslinks
mikenova shared this story from Gov. Louis Fortuño - Google News. Reuters Puerto Rico keeps the lights on, but debt crisis far from over Reuters Prepa said earlier this year that about 55 percent of the island's electricity comes from oi...
» Cristina Fernández reafirma que Argentina pagará su deuda
15/08/14 11:00 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Videos - Review. Cristina Fernández reafirma que Argentina pagará su deuda La presidenta de Argentina, Cristina Fernández, reiteró el compromiso de su gobierno de pagar el ci...
» Where you're most likely to be wiretapped - Washington Post
15/08/14 10:52 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. Where you're most likely to be wiretapped Washington Post Caveat: The numbers in the chart include authorization for portable devices only, such as cell phones; th...
» Trip Tips: Latin Americans infuse New York with Hispanic culture - Reuters
15/08/14 10:52 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in new york - Google News. Trip Tips: Latin Americans infuse New York with Hispanic culture Reuters NEW YORK Aug 15 (Reuters) - Newcomers from Mexico and Central and South America ar...
» Panama Canal turns 100, and gets ready for more - CBS News
15/08/14 10:51 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. Bloomberg Panama Canal turns 100, and gets ready for more CBS News Friday marks the centennial of the opening of the Panama Canal , an engineering marvel that perm...
» RPT-INSIGHT-Puerto Rico keeps the lights on, but debt crisis far from over - Reuters
15/08/14 10:48 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in usa - Google News. Reuters UK RPT-INSIGHT- Puerto Rico keeps the lights on, but debt crisis far from over Reuters Banks, led by Citibank and Canada's Scotiabank , on Thursday agre...
» Puerto Rico man pleads guilty to bribing judge - MSN Money
15/08/14 10:48 from Mike Nova's Shared Newslinks
mikenova shared this story from PR Economy and Business News Review. Puerto Rico man pleads guilty to bribing judge MSN Money SAN JUAN, Puerto Rico (AP) - A Puerto Rico businessman has pleaded guilty to bribing a Superior Court judge to ...
» A Chinese Man, A $50 Billion Plan, And A Canal To Reshape Nicaragua - NPR (blog)
15/08/14 10:48 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. NPR (blog) A Chinese Man, A $50 Billion Plan, And A Canal To Reshape Nicaragua NPR (blog) One hundred years ago today, the first ship passed through the brand-new,...
» PREPA reaches deal with creditors for payments due
15/08/14 10:48 from Mike Nova's Shared Newslinks
mikenova shared this story from News is my Business. PREPA reaches deal with creditors for payments due August 15, 2014  //  No Comments 8 groups submit credentials to develop Roosy Roads August 15, 2014  //  No Comments Claro connects 3...
» Fourteen Indicted in Identity Theft Crackdown in Puerto Rico - Latin Post
15/08/14 10:47 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. Latin Post Fourteen Indicted in Identity Theft Crackdown in Puerto Rico Latin Post The Justice Department claims that between 2008 and 2014, defendants in the U.S....
» Ukraine border guards to begin inspecting Russian aid convoy
15/08/14 10:02 from Mike Nova's Shared Newslinks
mikenova shared this story from World: World News, International News, Foreign Reporting - The Washington Post. KIEV, Ukraine — Ukrainian border guards on Friday prepared to inspect began inspecting a vast convoy of Russian humanitarian ...
» These photos put you face-to-face with sharks
15/08/14 10:00 from Mike Nova's Shared Newslinks
mikenova shared this story from CNN.com Recently Published/Updated. Part of complete coverage on By Doug Bierend , WIRED August 15, 2014 -- Updated 0939 GMT (1739 HKT) Cage-free shark photographer Michael Muller is taking over Discovery ...
» Face-to-face with sharks
15/08/14 10:00 from Mike Nova's Shared Newslinks
mikenova shared this story from CNN.com - World. Photographer Michael Muller is a man without fear. He swims among sharks without the protection of a cage to make studio-quality, intimate photos of these beautiful creatures. As scary as ...
» Boko Haram Islamists Kidnap Boys From Village
15/08/14 10:00 from Mike Nova's Shared Newslinks
mikenova shared this story . Suspected Islamist Boko Haram fighters have abducted dozens of boys and men from a village in northeast Nigeria, say witnesses. Nearly 100 people are missing after militants raided the Doron Baga village, loa...
» Neon Trees' Tyler Glenn: Since coming out as a gay Mormon I'm truly happy
15/08/14 09:43 from Mike Nova's Shared Newslinks
mikenova shared this story from Network Front | The Guardian. A lot of people ask how I can be both Mormon and gay. I dont have all the answers, but since coming out I finally feel like I can be myself How Tyler Glenn chose to reveal his...
» U.S. continues airstrikes against ISIS
15/08/14 09:42 from Mike Nova's Shared Newslinks
mikenova shared this story from CNN.com - World. A U.S. Intelligence official says that ISIS views conflict with the U.S as inevitable. CNN's Barbara Starr reports.
» Ukrainian border guards inspecting convoy
15/08/14 09:40 from Mike Nova's Shared Newslinks
mikenova shared this story from CNN.com - World. Ukrainian border guards are in Russia and have started to examine the contents of a huge convoy of trucks that Moscow says is carrying relief goods for civilians in war-torn eastern Ukrain...
» Who is Haider al-Abadi, the man who will lead Iraq?
15/08/14 09:39 from Mike Nova's Shared Newslinks
mikenova shared this story from CNN.com - World. The country is in your hands.
» Putin Argues Against Confrontation in Front of Bellicose Elites in Crimea
15/08/14 09:38 from Mike Nova's Shared Newslinks
mikenova shared this story from The Moscow Times Top Stories. Against the statements made by leaders of State Duma factions, President Vladimir Putin delivered a reconciliatory speech Thursday in Yalta, arguing against excessive confront...
» Finland will impose no new sanctions on Russia – Finnish PM - RT
15/08/14 09:37 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. RT Finland will impose no new sanctions on Russia – Finnish PM RT Finland will impose no additional sanctions on Russia in response to Moscow's ban of food imports from some EU countr...
» Septuagenarian Heiress Evicted From Iconic Moscow Home
15/08/14 09:37 from Mike Nova's Shared Newslinks
mikenova shared this story from The Moscow Times Top Stories. Moscow's iconic Melnikov House has found itself embroiled in yet another property scandal following the forced eviction of the architect's 75-year-old granddaughter.
» Швейцария отменила «неуместный» визит Нарышкина - РБК
15/08/14 09:36 from Mike Nova's Shared Newslinks
mikenova shared this story from В мире – Новости Google. РБК Швейцария отменила «неуместный» визит Нарышкина РБК Швейцарские парламентарии аннулировали приглашение посетить страну, ранее направленное спикеру Госдумы Сергею Нарышкину. Как...
» The Vanguard of Russia’s New Foreign Policy
15/08/14 09:35 from Mike Nova's Shared Newslinks
mikenova shared this story from The InterpreterThe Interpreter. When Tsar Nicholas II abdicated his throne in 1917, he addressed neither the Russian people nor the Provisional Government, but rather the Chief of Staff of the Russian Army...
» Obama Says 'Siege' Of Sinjar Mountain Broken
15/08/14 09:33 from Mike Nova's Shared Newslinks
mikenova shared this story from Radio Free Europe / Radio Liberty. U.S. President Barack Obama said the situation for Yazidis on Sinjar Mountain in northern Iraq has greatly improved since last week when he ordered air strikes airstrikes...
» A Bunch Of Russian Military Vehicles Have Just Crossed Into Ukraine - Business Insider
15/08/14 09:32 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. A Bunch Of Russian Military Vehicles Have Just Crossed Into Ukraine Business Insider A column of Russian armored personnel carriers (APCs) has reportedly crossed Russia's border with ...
» Crimea Proves Difficult to Digest
15/08/14 09:32 from Mike Nova's Shared Newslinks
mikenova shared this story from Home. Russia’s annexation of the Crimean peninsula in February sparked a conflict between the Ukrainian government and pro-Russian separatists that has drawn in the international community. However, while ...
» Ukraine Rebel Leaders Quit; Russian Convoy Stops - Voice of America
15/08/14 09:30 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. Voice of America Ukraine Rebel Leaders Quit; Russian Convoy Stops Voice of America Two of the most senior pro- Russian separatists battling Ukraine forces near the Russian border quit...
» Ukraine crisis: Impasse over Russian aid convoy - BBC News
15/08/14 09:29 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. BBC News Ukraine crisis: Impasse over Russian aid convoy BBC News A controversial Russian convoy remains parked near Ukraine's border, still awaiting permission for the aid it is carr...
» АПУ рассматривает возможность поездки Порошенко на переговоры с Путиным в Минск - РБК Украина
15/08/14 09:29 from Mike Nova's Shared Newslinks
mikenova shared this story from В мире – Новости Google. РБК АПУ рассматривает возможность поездки Порошенко на переговоры с Путиным в Минск РБК Украина Администрация Президента Украины рассматривает возможность поездки Президента Украин...
» Russian Military Vehicles Loom Over Ukraine Aid Convoy Border Spat
15/08/14 09:28 from Mike Nova's Shared Newslinks
mikenova shared this story from The Moscow Times Top Stories. Dozens of heavy Russian military vehicles massed on Friday near the border with Ukraine.
» Украину отгородят от Крыма колючей проволокой - Утро.Ru
15/08/14 09:28 from Mike Nova's Shared Newslinks
mikenova shared this story from В мире – Новости Google. Утро.Ru Украину отгородят от Крыма колючей проволокой Утро.Ru В документе опубликованном в четверг на правительственном сайте Federal Business Opportunities [LINK URL="https:/...
» Ukrainian Lawmaker Punches Colleague In Parliament
15/08/14 09:20 from Mike Nova's Shared Newslinks
mikenova shared this story from Radio Free Europe / Radio Liberty. A Ukrainian parliament member who cultivates the image of a fighter against separatists didn't fare well against one of his legislative colleagues, taking a punch in the ...
» Georgia Puts Saakashvili On Wanted List
15/08/14 09:19 from Mike Nova's Shared Newslinks
mikenova shared this story from Radio Free Europe / Radio Liberty. Georgian authorities have put former President Mikheil Saakashvili on a wanted list and will detain him if he returns to the country he led for nearly a decade.
» Russian Convoy Near Ukraine as Tanks Stream Toward Border - Bloomberg
15/08/14 09:18 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. Russian Convoy Near Ukraine as Tanks Stream Toward Border Bloomberg Russia proposed a cease-fire for humanitarian aid deliveries to war-torn parts of southeastern Ukraine as a convoy ...
» Ukraine's Rebel Leader Igor Strelkov Steps Down
15/08/14 09:17 from Mike Nova's Shared Newslinks
mikenova shared this story from The Moscow Times Top Stories. Ukrainian separatists have confirmed that Igor Girkin, better known as Strelkov, has stepped down from his position as a military chief, making him the third rebel leader to q...
» Crimea's rocky path to Russia - Deutsche Welle
15/08/14 09:17 from Mike Nova's Shared Newslinks
mikenova shared this story from Russia - Google News. CNBC Crimea's rocky path to Russia Deutsche Welle Problems like these hamper people's daily lives in the "new" Crimea, where five months after Russia annexed the peninsula, ...
» Convoy Stays on Russian Side of Border With Ukraine
15/08/14 09:16 from Mike Nova's Shared Newslinks
mikenova shared this story from NYT > Europe. A Russian official said that the trucks were ready to go at any time, but talks on when and how the aid would be delivered to Ukraine were still inconclusive.
» Ukraine Inspects Convoy Amid Reports Russian APCs Cross Border
15/08/14 09:15 from Mike Nova's Shared Newslinks
mikenova shared this story from Radio Free Europe / Radio Liberty. Ukrainian authorities have begun inspecting a Russian convoy carrying what Moscow says is humanitarian aid destined for eastern Ukraine, amid a continuing government offe...
» Maliki and the Futility of Regime Change
15/08/14 09:13 from Mike Nova's Shared Newslinks
mikenova shared this story from NYT > Editorials. When America has pushed for new leaders in global hot spots, it has often turned out badly. But that isn’t an argument for withdrawing from involvement abroad.
» Putin's Ukraine gamble hastens exodus of Russian money and talent - Reuters
15/08/14 08:55 from Mike Nova's Shared Newslinks
mikenova shared this story from Putin - Google News. Reuters Putin's Ukraine gamble hastens exodus of Russian money and talent Reuters Vladimir Putin's annexation of Crimea and support for rebels accused of shooting down a passenger plan...
» Владимир Путин: мы еще обрадуем наших партнеров самым современным вооружением - Коммерсантъ
15/08/14 08:51 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. Владимир Путин : мы еще обрадуем наших партнеров самым современным вооружением Коммерсантъ Сегодня Владимир Путин выступает перед российскими парламентариями в Крыму, где находится ...
» Путин пообещал российской армии уникальное оружие - Slon.ru - Редакция деловых новостей
15/08/14 08:50 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. Slon.ru - Редакция деловых новостей Путин пообещал российской армии уникальное оружие Slon.ru - Редакция деловых новостей «Мы должны сделать все, чтобы все, в чем нуждается ОПК обор...
» Вектор выступления Путина в Ялте: Россия может поступать так же, как США - Московский комсомолец
15/08/14 08:47 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. Московский комсомолец Вектор выступления Путина в Ялте: Россия может поступать так же, как США Московский комсомолец Живой разговор Владимира Путина с политактивом в ялтинском санат...
» Речь Путина в Ялте: мода на консервативную стабильность - BBC Russian
15/08/14 08:44 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. Речь Путина в Ялте: мода на консервативную стабильность BBC Russian Эффектной пиар-акции из встречи Владимира Путина с российскими депутатами и сенаторами в Крыму не получилось. В з...
» Putin sounds conciliatory note on visit to annexed Ukraine - CNBC
15/08/14 08:44 from Mike Nova's Shared Newslinks
mikenova shared this story from Putin - Google News. CNBC Putin sounds conciliatory note on visit to annexed Ukraine CNBC We must calmly, with dignity and effectively, build up our country, not fence it off from the outside world," ...
» European shares inch up after Putin comments - Reuters
15/08/14 08:43 from Mike Nova's Shared Newslinks
mikenova shared this story from Putin - Google News. Reuters India European shares inch up after Putin comments Reuters Speaking to Russian ministers and members of parliament in Crimea, Putin said Russia would stand up for itself but no...
» Finland Sees World on Brink of Cold War Before Putin Meeting - Businessweek
15/08/14 08:43 from Mike Nova's Shared Newslinks
mikenova shared this story from Putin - Google News. Finland Sees World on Brink of Cold War Before Putin Meeting Businessweek As the Finnish head of state prepares to meet President Vladimir Putin in the southern Russian town of Sochi t...
» Путин осадил «ястребов» в руководстве страны - РБК
15/08/14 08:38 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. РБК Путин осадил «ястребов» в руководстве страны РБК Накануне встречи с Владимиром Путиным депутаты, опрошенные РБК, ожидали сенсационных заявлений и не исключали, что речь может в ...
» Госдеп США: Люди не едут в Крым, единственный турист на полуострове — Путин - Московский комсомолец
15/08/14 08:37 from Mike Nova's Shared Newslinks
mikenova shared this story from путин – Новости Google. Московский комсомолец Госдеп США: Люди не едут в Крым, единственный турист на полуострове — Путин Московский комсомолец Накануне Владимир Путин провел в Ялте встречу с депутатами Го...
» US company may face terrorism charges in Argentina
15/08/14 08:21 from Mike Nova's Shared Newslinks
mikenova shared this story from The European Union Times - World News, Breaking News. The government of Argentina is ready to use an anti-terrorism law to seek criminal charges against a US-based international printing company, which une...
» Contributing Op-Ed Writer: Does the U.S. Still Have the Will to Lead?
15/08/14 08:20 from Mike Nova's Shared Newslinks
mikenova shared this story from NYT > World. Despite their resentment of American power, most Europeans still look to Washington to act in a crisis.
» Contributing Op-Ed Writer: Anti-Semitism Stirs in Latin America
15/08/14 08:20 from Mike Nova's Shared Newslinks
mikenova shared this story from NYT > World. The region isn't particularly anti-Semitic, but there are signs it may become so.
» Reports: Russian Military Convoy Enters Ukraine
14/08/14 19:41 from Mike Nova's Shared Newslinks
mikenova shared this story from Radio Free Europe / Radio Liberty. Two British newspapers are reporting that a column of Russian military vehicles has crossed into Ukraine separately from a convoy of some 250 Russian trucks that Moscow s...
» Robin Williams Suffered from Early Parkinson's at Death
14/08/14 19:38 from Mike Nova's Shared Newslinks
mikenova shared this story from Voice of America. Robin Williams was sober and suffering from early stages of Parkinson's disease as well as anxiety and depression at the time of his apparent suicide, the actor's widow said in a statemen...

Thursday, August 14, 2014

8:43 AM 8/14/2014: Puerto Rico Debt Law Briefing Dates Set: Bankruptcy - Businessweek

» Puerto Rico Debt Law Briefing Dates Set: Bankruptcy - Businessweek
14/08/14 01:18 from puerto rico business - Google News
Puerto Rico Debt Law Briefing Dates Set: Bankruptcy Businessweek The judge asked to consider the constitutionality of a new Puerto Rico law that allows government-owned entities to restructure debt outside of federal bankruptcy court wan...
» Puerto Rico Debt Law Briefing Dates Set: Bankruptcy - Bloomberg
14/08/14 01:17 from puerto rico - Google News
Puerto Rico Debt Law Briefing Dates Set: Bankruptcy Bloomberg The judge asked to consider the constitutionality of a new Puerto Rico law that allows government-owned entities to restructure debt outside of federal bankruptcy court wants ...
» Talks aimed at extending Prepa credit lines through end of the
13/08/14 19:34 from Caribbean Business
Talks aimed at extending Prepa credit lines through end of the year Puerto Rico Electric Power Authority (Prepa) and Government Development Bank (GD ... Fitch: Shifting investor mix divides PR bond market The number of hedge funds tradin...

» Alternative funds hold over $16 bln in Puerto Rico debt -Fitch - MSN Money
13/08/14 19:25 from puerto rico business - Google News
Alternative funds hold over $16 bln in Puerto Rico debt -Fitch MSN Money NEW YORK, Aug 13 (Reuters) - More than 60 alternative fund managers hold more than $16 billion of Puerto Rico debt as hedge funds and distressed debt investors disl...

» NYC council speaker to officiate over gay wedding in Puerto Rico - Page Six
14/08/14 00:37 from puerto rico - Google News
NYC council speaker to officiate over gay wedding in Puerto Rico Page Six City Council Speaker Melissa Mark- Viverito will officiate a wedding ceremony in Puerto Rico this weekend for her staffer Karina Claudio and wife Natalia Guerrero....

» It's Perfectly Legal To Film The Cops
13/08/14 23:16 from Latino Voices on HuffingtonPost.com
Snapping photos of police in Ferguson, Missouri, may have gotten Huffington Post reporter Ryan J. Reilly arrested Wednesday night while he was covering protests prompted by the death of Michael Brown , an unarmed black teenager who was s...

» Fourteen individuals charged with trafficking identities of Puerto Rican US citizens
13/08/14 23:03 from Puerto Rico News
Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here .

Puerto Rico Debt Law Briefing Dates Set: Bankruptcy

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The judge asked to consider the constitutionality of a new Puerto Rico law that allows government-owned entities to restructure debt outside of federal bankruptcy court wants each side to make its case by October.
Saying the new law depressed the value of $1.6 billion in power utility debt they hold, bond funds affiliated with Franklin Resources Inc. (BEN) and Oppenheimer Rochester Funds (RMUNX) sued Puerto Rico in June, contending the Public Corporation Debt Enforcement and Recovery Act violates the U.S. Constitution.
The law would let a commonwealth court restructure debt in a process akin to Chapter 11 of the U.S.Bankruptcy Code. Puerto Rico has asked U.S. District Judge Francisco A. Besosa in San Juan Besosa to dismiss the suit and declare the law constitutional.
The bond funds filed a so-called summary judgment motion this week, taking the position that undisputed facts require Besosa to declare the law void, regardless of the specific circumstances under which it’s applied.
The judge told Puerto Rico to file papers by Sept. 12 supporting its claim that the law is constitutional. The bond funds are to file opposing papers by Oct. 6.
The bond funds said the law violates the Constitution’s Bankruptcy Clause, Takings Clause and Contracts Clause, as well as their right to litigate federal claims in a federal court.
On its face, the Contracts Clause seems to say that only the federal government can impair rights under contracts. Looking to law made a hundred years ago, Puerto Rico said the constitution isn’t as absolute as first appears.
That means Besosa may be reading decisions from the early 20th century dealing with railroad debt-restructurings carried out through equity receiverships before Congress adopted modern reorganization laws. Puerto Rico may also cite precedents that arguably allow state or municipal governments to ensure the continuation of services even if creditors aren’t fully paid.
For the bond funds’ theories, click here for the Aug. 13 Bloomberg bankruptcy report. For Puerto Rico’s arguments, click here for the July 22 report.
The lawsuit is Franklin California Tax-Fee Trust v. Commonwealth of Puerto Rico, 14-cv-01518, U.S. District Court, District of Puerto Rico (San Juan).

Updates

Lehman $8.6 Billion Litigation With JPMorgan to Move Quickly

Creditors of Lehman Brothers Holdings Inc., JPMorgan Chase & Co. and U.S. District Judge Richard J. Sullivan differ over how much paper is necessary to decide an $8.6 billion lawsuit.
Lehman sued JPMorgan in May 2010, contending the bank “abused the power of its position to improperly extract billions in incremental collateral and other concessions” just days before Lehman’s bankruptcy in September 2008. Lehman’s creditors told Sullivan the soon-to-be bankrupt investment bank at the time didn’t owe JPMorgan anything.
According to the creditors, JPMorgan used its “life or death leverage” to force Lehman into handing over $8.6 billion in “desperately needed” cash the week before bankruptcy. New York-based JPMorgan, in turn, applied the cash against “dramatically inflated” derivatives and clearing claims, the Lehman creditors said.
Sullivan two years ago said the case should stay in bankruptcy court until the parties were ready to ask him for so-called summary judgment. When the suit finally made its way to the district judge, he asked the parties to come up with a timetable.
In a ruling this week, Sullivan said the two sides wanted a “staggering motion schedule” entailing more than 600 pages of briefs over seven months and an “unlimited quantity of exhibits.” The judge refused to sanction what he called a “sort of trial on written submission.”
He told both sides to submit their first briefs, of not more than 40 pages, by Sept. 15. In addition, they can each have as many as 40 pages of exhibits. They can each submit another 40 pages of opposing briefs by Oct. 15, and 20 pages of reply briefs by Oct. 31.
Sullivan can only grant victory to one side or the other if he finds no disputed factual issues in the summary judgment motions. Otherwise, he will hold a trial, absent a settlement.
The Lehman creditors didn’t want the summary judgment motion before Sullivan. They said many district courts let bankruptcy judges make suggested rulings on suits such as this, where the bankruptcy court doesn’t have the right to make final rulings.
Lehman said the $8.6 billion suit is one of three unresolved disputes with JPMorgan. Still in bankruptcy court are a contested $2.3 billion claim on derivatives and a multibillion-dollar dispute over clearing claims.
Lehman’s creditors already saw some of their claims fall by the wayside in April 2012. The bankruptcy judge dismissed claims for recovery of preferential transfers and so-called constructively fraudulent transfers. He said the bank was protected from those claims by the bankruptcy’s “safe harbor,” under which transactions in securities can’t be set aside.
The suit survived based on actual fraud and 25 other theories intended to force JPMorgan to disgorge payments taken from Lehman in the days before bankruptcy.
For a summary of the April 2012 opinion and details on the lawsuit, click here for the April 20, 2012, Bloomberg bankruptcy report. For details on Sullivan’s ruling in September 2012 leaving the case in bankruptcy court, click here for the Oct. 22, 2012, report.
Lehman Brothers Holdings Inc. and its brokerage unit began separate bankruptcies in September 2008. The parent’s reorganization plan was approved in December 2011 and implemented in March 2012. In April, the parent made its fifth distribution.
The suit in district court is Lehman Brothers Holdings Inc. v. JPMorgan Chase Bank NA (In re Lehman Brothers Holdings Inc.), 11-6760, U.S. District Court, Southern District of New York (Manhattan). The lawsuit in bankruptcy court is Lehman Brothers Holdings Inc. v. JPMorgan Chase Bank NA (In re Lehman Brothers Holdings Inc.), 10-03266, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
The Lehman holding company Chapter 11 case is In re Lehman Brothers Holdings Inc., 08-bk-13555, while the liquidation proceeding under the Securities Investor Protection Act for the brokerage is Securities Investor Protection Corp. v. Lehman Brothers Inc., 08-01420, both in U.S. Bankruptcy Court, Southern District of New York (Manhattan).

Buccaneer Energy Creditors Get $10 Million in Settlement

Buccaneer Energy Ltd. (BCGFQ), the official creditors’ committee and AIX Energy LLC, the company’s proposed buyer and secured lender, reached a global settlement putting to rest objections to sale and a Chapter 11 plan.
In July, the bankruptcy court preliminarily approved disclosure materials allowing creditors to vote on the plan. Meanwhile, creditors opposed a sale to AIX, calling it a “shell company” and instrumentality of Buccaneer’s largest shareholder, Meridian Capital International Fund, which holds 19.99 percent of the voting stock.
Buccaneer, an Australian oil and gas exploration and production company, filed a petition for Chapter 11 reorganization on May 31 in Victoria, Texas. The creditors said they were being required to vote on a plan “without any knowledge of what distributions, if any, they may realize.”
The settlement, to be considered for approval by the bankruptcy judge at an Aug. 25 hearing, carves out a minimum of $10 million to be placed in a trust for unsecured creditors.
There will be an auction, where AIX can bid using its secured claim rather than cash. The claim is estimated to be $63.8 million. Even if the auction doesn’t bring enough to pay AIX in full, the unpaid portion of its claim will be waived, and AIX won’t receive anything from the creditors’ trust.
Any assets not covered by AIX’s lien go to the trust, along with sale proceeds in excess of the amount required to pay the secured claims in full.
Creditors will have the right to bring lawsuits, including against company mangers.
On top of the $10 million, $2.3 million is set aside for the committee’s professionals. Buccaneer and AIX can’t object to paying the committee’s fee requests up to $2.3 million.
The parties to the settlement agreement will waive claims against one another. A motion for formal approval of the settlement is to be filed by Aug. 15.
The bankruptcy judge set aside approval of the disclosure statement. The parties agreed to have a revised plan approved “as quickly as possible.”
Buccaneer’s assets include operations in Alaska’s Kenai Loop. Although traded on the Australian Securities Exchange until voluntarily delisted in February, the company is based in Texas and Alaska. Operations are onshore in Texas and Louisiana, offshore in the Gulf of Mexico, and onshore and offshore in the Cook Inlet in Alaska.
The case is In re Buccaneer Resources LLC, 14-bk-60041, Southern District of Texas (Victoria).

Ambient Hearing on Sale Approval to Ericsson Set for Sept. 26

Ambient Corp. (AMBTQ), a telecommunications company, filed a petition for Chapter 11 protection on July 28 in Delaware and is seeking court approval to sell its business to Ericsson Inc. absent a better offer at auction on Sept. 24.
The Newton, Massachusetts-based company got court approval of auction and sale procedures on Aug. 11. Competing bids are due Sept. 22, followed by the auction and a hearing for sale approval on Sept. 26.
The sale schedule is identical to procedures the company sought at the outset of the Chapter 11 effort. Ambient said it was being forced to sell quickly by strained liquidity.
Unless outbid, Ericsson will pay $7.5 million, including $2.5 million financing Ambient’s operations through the sale. The buyer also will assume specified liabilities.
In fiscal 2013, Ambient had a pre-tax net loss of about $17.7 million on net sales of approximately $11.4 million. Its petition listed assets and debt of less than $10 million each.
Vicis Capital LLC, through its Vicis Capital Master Fund, owns about 57.8 percent of the company’s stock, according to court papers.
The case is In re Ambient Corp., 14-bk-11791, U.S. Bankruptcy Court, District of Delaware (Wilmington).

Kid Brands Selling ‘Sassy’ Business Unit for $14 Million

Kid Brands Inc., a designer and distributor of infant and juvenile products, got the green light to sell almost all assets of the ‘Sassy’ business to Sassy 14 LLC.
The buyer’s parent is Angelcare Monitors Inc., according to the sale contract. Montreal-based Angelcare makes baby monitors and other juvenile products, according to its website.
A bankruptcy judge in Newark, New Jersey, signed an order Aug. 12 approving the sale without an auction, although competing bids could have been submitted at the hearing.
The buyer is paying $14 million plus quantified amounts to cover specified contract, employee and other costs and will assume specified liabilities, according to court papers. Kid Brands and the buyer also entered into a transition services agreement.
No trademarks, intellectual property or related interests owned by William Carter Co. or Disney Consumer Products Inc. will be transferred in the sale, according to the court order.
Carter’s and Disney-branded inventory held by Kid Brands may be transferred to the buyer, provided that it can’t be sold until Carter’s and Disney grant licenses to the buyer or there is further court action, according to the order.
Kid Brands products are sold under the Kids Line, CoCaLo, LaJobi and Sassy names.
Rutherford, New Jersey-based Kid Brands reported a $31.7 million net loss in the first quarter on net sales of $38 million. Sales plunged 26 percent in this year’s first quarter compared with the same period last year. The operating loss in the quarter was $30.6 million.
Kid Brands filed a Chapter 11 petition on June 18, listing assets of $32.4 million and debt totaling $109.2 million. Unsecured liabilities totaled $54 million, including about $25.8 million owing to trade suppliers.
The case is In re Kid Brands Inc., 14-bk-22582, U.S. Bankruptcy Court, District of New Jersey (Newark).

Elephant Bar Restaurant Chain Has Going-Concern Buyer

Elephant Bar, a chain of 29 restaurants in seven states, will be sold to an affiliate of Chalak Mitra Group, pending approval by the bankruptcy court in Santa Ana, California, at a hearing on Aug. 22.
Originally, the buyer was to be Cerberus Business Finance LLC, as agent for the pre-bankruptcy and post-bankruptcy lenders. Cerberus bowed out when Chalak Mitra Group’s CM7 Capital Partners LLC offered to sign a contract and operate the chain.
Chalak Group Inc., based in Dallas, owns and operates 260 restaurants, including the 100-unitGenghis Grill chain, according to its website.
The buyer will pay about $1.25 million in cash to fund wind-down payments and pay specified priority claims and transfer taxes, according to the sale contract. The buyer will also pay designated claims to vendors and assume specified liabilities.
Included among assumed liabilities is an exit financing credit agreement, under which Cerberus will lend as much as $18.3 million to finance operations. Cerberus will be agent, according to the exit financing term sheet.
Elephant Bar, which filed for Chapter 11 on June 16, has financed the bankruptcy with a $3.3 million loan from Cerberus and with cash representing collateral for the secured lenders’ claims.
Liabilities of the Costa Mesa, California-based company total about $46.1 million, including approximately $27.4 million outstanding as of the filing on a first-lien credit with Cerberus as agent. For second-lien debt of about $12.7 million as of the filing, Fidus Mezzanine Capital LP is agent. Both credits were in default last year. The company owed $6 million to trade vendors as of the filing.
The 77 percent owner is SKM Equity Fund III LP, according to court papers.
The case is In re S.B. Restaurant Co., 14-bk-13778, U.S. Bankruptcy Court, Central District of California (Santa Ana).

Advance Sheets

Unfinished-Business Suit Finished Off by Second Circuit

Saying profit on unfinished business isn’t the property of a bankrupt law firm, the U.S. Circuit Court of Appeals in Manhattan upheld dismissal of a lawsuit brought against Seyfarth Shaw LLP by the trustee for defunct Thelen LLP.
The decision was the product of a circuitous appellate process. In the liquidations of Thelen and Coudert Brothers LLP, federal district judges reached different conclusions.
The Thelen judge ruled unfinished business isn’t property of a bankrupt firm under New York law. The Coudert judge reached the opposite result, finding that the firm’s trustee had a valid case for fraudulent transfer. Both cases were appealed together.
Rather than answer a tangled question of New York law, the appeals court referred the question to the state’s highest court. That tribunal on July 1 said there’s no property in hourly unfinished business because it’s “too contingent in nature and speculative to create a present or future property interest.”
For discussion of the state court’s opinion, click here for the July 2 Bloomberg bankruptcy report.
Having previously said the state high court’s opinion would control, the federal appeals panel tersely upheld dismissal of the Thelen suit on Aug. 6. It has yet to act on the Coudert appeal, giving the parties until Aug. 25 to comment on how the state-court ruling bears on the appeal.
The New York state court reached the same result as a federal district judge in San Francisco, who decided in June that a lawyer who leaves a failed firm can retain fees earned at the new firm in completing unfinished business.
The question of unfinished business arose from Jewel v. Boxer, a 1984 intermediate appellate court decision in California. The court said profit earned after dissolution belongs to the “old” firm, not to the newly formed firm that completed the work. As the San Francisco judge said, the Jewel doctrine had been uncritically accepted as gospel ever since.
To read about the California case, click here for the June 13 Bloomberg bankruptcy report. For the decision to send the question to New York state court, click here for the Nov. 18 report. For lower court opinions in Thelen and Coudert, click here for the Sept. 6 report.
The Thelen opinion in federal court is Geron v. Seyfarth Shaw LLP (In re Thelen LLP), 12-4138, U.S. Court of Appeals for the Second Circuit (Manhattan). The Coudert appeal in federal court is Development Specialists Inc. v. DeFoestraets (In re Coudert Brothers LLP), 12-4916.
The Thelen and Coudert cases in the New York high court are Geron v. Seyfarth Shaw LLP (In re Thelen LLP), and Development Specialists Inc. v. K&L Gates LLP (In re Coudert Brothers LLP, Nos. 136 and 137, New York State Court of Appeals (Albany).
To contact the reporter on this story: Bill Rochelle in New York at wrochelle@bloomberg.net
To contact the editors responsible for this story: Andrew Dunn at adunn8@bloomberg.net Peter Blumberg
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Lutgardo Acevedo se declarará culpable hoy

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La vista ante la jueza presidenta del Tribunal federal Aida Delgado Colón está pautada para las 2:00 p.m.
Lutgardo Acevedo López será trasladado hoy, hasta el Tribunal Federal, en Hato Rey, desde el Centro de Detención Metropolitano (MDC, por sus siglas en inglés), en Guaynabo, para hacer alegación de culpabilidad.
El contador público autorizado acusado por sobornar al coacusado, el exjuez estatal Manuel Acevedo Hernández para salir favorecido en un caso de homicidio negligente, se declarará culpable ante la jueza presidenta Aida Delgado Colón en la vista pautada para las 2:00 p.m.
Se desconocen los detalles del acuerdo al que habrá llegado con la Fiscalía federal para declararse culpable a cambio de cumplir cierto término de tiempo en prisión. No obstante, la jefa de Fiscalía federal, Rosa Emilia Rodríguez, dijo a periodistas ayer que supuestamente Acevedo López no estaba cooperando.
Acevedo López se declaró no culpable el 2 de julio pasado ante el magistrado federal Bruce McGiverin. Fue arrestado un mes antes en Florida, cuando estaba en un centro de rehabilitación por sus problemas de alcoholismo y uso de sustancias controladas. Desde entonces, estuvo detenido y se le denegó fianza por ser un riesgo de peligro a la comunidad.
Según la acusación, el también empresario pagó favores, deudas y regalos al entonces juez Acevedo Hernández, del Tribunal de Aguadilla, a cambio de beneficiarlo en un caso criminal en su contra por homicidio negligente, en hechos ocurridos en 2012, cuando atropelló al guardia de seguridad Félix Babilonia Valentín.
El contador, de 39 años, enfrenta dos cargos en su contra por conspirar para cometer un esquema de soborno y emitir pagos, por los que podría cumplir hasta 10 años de cárcel y no más de tres años de libertad supervisada, además de tener que pagar una multa de hasta $250,000.
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Lutgardo Acevedo will plead guilty today

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By Mariana Cobian 08/14/2014 | 5:24 a.m.
Lutgardo López Acevedo will be transferred today, Thursday, to the Federal Court, in Hato Rey, from the Metropolitan Detention Center (MDC, for its acronym in English) in Guaynabo, to plead guilty.
The Certified Public Accountant accused of bribing the co-defendant, the state exjuez Manuel Hernández Acevedo to be favored in a case of negligent homicide, he will plead guilty before Judge Aida Delgado Colon president in view scheduled for 2:00 pm
The details of the agreement to be reached with federal prosecutors to plead guilty in exchange for meeting certain period of time in prison is unknown. However, the chief federal prosecutor, Rosa Emilia Rodriguez told reporters yesterday, Tuesday, López Acevedo allegedly was not cooperating.
López Acevedo pleaded not guilty on July 2 last before the federal magistrate Bruce McGiverin. He was arrested a month ago in Florida, when he was in rehab for his alcohol problems and use of controlled substances. Since then, he was detained and denied bail for being a risk of danger to the community.
According to the indictment, also employer paid favors, debts and gifts to then judge Acevedo Hernandez, the Court of Aguadilla, in exchange for benefit in a criminal case against him for negligent homicide in events that occurred in 2012, when he ran over the guard Valentín Félix Babylon security.
The accountant, 39, faces two charges against him for conspiring to commit bribery scheme and issue payments, which could serve up to 10 years in prison and no more than three years of supervised release, in addition to paying a fine of up to $ 250,000.