Phuong Tay merges with PVFC as ordered by the Vietnamese Central Bank. In compliance with the Vietnamese central bank's goals to restructure lending institutions saddled with debt, Phuong Tay Bank is planning to merge with Petrovietnam Finance Corp.
Legal & Regulatory
Renta Corporacion Contemplating Bankruptcy
Renta opting for insolvency protection to schedule debt payments. Share trading for Rental Corporacion, the Spanish property firm, was suspended last Tuesday after reports surfaced that the company's board was contemplating opting for insolvency.
Paulson & Co Seeking Suit Dismissal
Paulson moves for suit dismissal alleging lack of obligation. Paulson and Co has sought the dismissal of the lawsuit that alleged the firm conspired with Goldman Sachs Group Inc to entrap the bond insurer to guarantee payments for an investment scheme that is designed fail.
Settlement by Citigroup reaches US$730 million
Citigroup settles investor suit amounting to US$730 million. Citigroup Inc has agreed to settle a class action suit on behalf of its investors to the amount of US$730 million.
Agrium Gets More Backing for Proxy Fight
Agrium gets backing from two major stockholders against Jana Partners proposals. Agrium Inc, the Canadian agricultural company received additional support in its proxy fight with Jana Partners, the hedge fund firm.
Latest News
HP purchase of Autonomy now under investigation by the US and UK regulators. Technology giant Hewlett Packard has told BBC that the Serious Fraud Office of the UK is currently investigating the activities of Autonomy.
Two separate suits granted class action status against the US government by AIG shareholders. Two separate groups of shareholders have been granted class action status from a US Federal Court judge.
CEDC is receiving offers for purchase from Russian billionaires. The rivaling offers from Russian billionaires to rescue the Polish vodka maker CEDC is spurring rumors that the company would be able to stave off bankruptcy.
Chesapeake files suit against BNY Mellon. Chesapeake Energy Corp has gone to court to sue its trustee Bank of New York Mellon Corp seeking redemption of more than US$1.
Repsol denies Reuters report in explanation to Spanish stock market regulator. In an official statement, Repsol reiterated that there are no ongoing discussions with the government of Argentina as to the expropriation of the Spanish oil giant's share in Argentina's YPF company.
Monte dei Paschi being investigated for corruption and fraud in the Antonveneta deal. Siena prosecutors are currently investigating charges of fraud and corruption in the Monte dei Paschi's acquisition of Antonveneta back in 2007.
Three executive assistants are suing venture firm CMEA and one of its former partners for harassment and retaliation, marking the third lawsuit in less than a year alleging unfair treatment of women in Silicon Valley's clubby world of venture capital.
Smithfields Food split recommended through letter by shareholder. One of the biggest shareholders in Smithfield Foods Inc has formally recommended to the board to split America's largest hog producer into three separate distinct units.
Appeals by hedge funds against Porsche actions withdrawn in the US but case continues in Germany. In a recent move, a consortium of hedge funds has dropped their appeal in US courts but continue their case in Germany.
