CEDC files Chapter 11 bankruptcy and cedes control to Roustam Tariko. The Central European Distribution Corp of Poland has filed for a pre-packaged bankruptcy in its efforts to decrease its debt load.
Legal & Regulatory
SEC Adopts New Rules on Identity Theft
The U.S. Securities and Exchange Commission has adopted new rules that require stock brokerages, mutual funds and investment advisers to establish programs to help detect identity theft.
Activist shareholder questions Dell’s buyout offer
An activist shareholder has questioned Dell Inc.’s evaluation of a $24.4 billion leveraged buyout deal with buyout firm Silver Lake.
Agrium sweeps board seats as Jana calls for investigation
Canadian fertilizer company Agrium Inc defended the election of its entire slate of directors to the 12-man board as hedge fund Jana, Agrium’s biggest single shareholder, called for an investigation of the vote.
Princeling Funds of China under Fire
The Chinese government is now in a quandary as to the crackdown on corruption against the so-called princelings.
Latest News
UPS appeals EU decision to prohibit merger between TNT Express and UPS. The European Union regulator's decision to reject the Eur5. 16 billion bid by United Parcel Services for TNT Express NV would be appealed.
The merger of the National Bank of Greece and its subsidiary NFG Eurobank is suspended until further notice.
The JV between EFG-Hermes Holding SAE and QInvest LLC is at risk for the delayed approval by Egyptian regulators.
The board of directors of Sterling Bancorp, Inc. is being investigated for potential claims in relation to its proposed acquisition by Provident New York Bancorp.
Things are heating up between Icahn and the Dell Special Committee on issues of reimbursement, proxy fights and possible litigation.
There is a new bill for consideration on the US Senate floor as to the required capital ratio of the banks, to avoid the 'too-big-to-fail' argument.
EU Olli Rehn provides insight on new EU rules on investor liabilities in bank failures. Under the new European Union law in the works, large bank depositors can take a hit should the bank fail.
Italian PM Mario Monti finally signs decree approving payments of state debts to private firms. The Italian caretaker government has approved a decree to pay off nearly Eur40 billion state funds to pay off debts it has incurred with private companies.
The former head of Credit Suisse's head of structured credit pleads not guilty to charges of overinflating prices in the subprime mortgage backed bonds market.
