Word: loaned
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...shareholders are unhappy with Branson?s bid, however, it is unclear where they might find a better one. The U.S.-based private-equity firm JC Flowers has also promised to repay billions of pounds of the Bank of England loan upfront, but its proposal offers shareholders only around 1 pence per share. Another investment firm, Olivant, has proposed buying a minority stake while parachuting new management in, a plan that would keep share prices at higher levels. But with the British government having already plunged billions of dollars into the bank, it will want to retain...
...real estate developer accused Harvard of backing a loan with 42 percent interest—twice the legal limit—in a lawsuit filed last week. Fred Fahey, the developer who filed the suit, charged that Harvard and other institutions, including endowments at Yale and Princeton, violated a law that was intended to curb loan sharks, who impose excessive rates on borrowers, often backed by threats of violence. The lawsuit claimed that Harvard and the other institutions invested in Realty Financial Partners, which charged an interest rate that exceeded state limits. Other parties that were named in the suit...
...Superette’s real estate, Saini took over as store manager. A few months later, however, it became clear that things were not going as Chen had hoped. In late March 2007, Chen took legal action against Saini for failing to make payment on a $130,000 loan and four months’ worth of rent. A Cambridge District Court judge has since handed a victory to Chen, who repossessed the store and is restocking and refurbishing the property. The store is open from 10 a.m. to 4:30 p.m. temporarily, until he can extend his hours to stay...
...season. He’s also decided to become an entrepreneur of sorts. There’s mention of a half-baked plan to start a franchise of Off-Track Betting, but somewhere along the way, Vaughn runs into trouble with the law and has to call Santa to loan him bail money. So yes, the idea of “Fred Claus” is different. But it’s far from novel, a fact highlighted by a story structure and cinematic style not unlike many other Santa flicks. Director David Dobkin introduces us to the North Pole...
...student loan industry has been exposed as a backwater of corruption and insider dealing. Paid vacations to the Caribbean and private stock offerings have made quid pro quo a moniker for the student lending industry. Prompted by the year-long crusade against this $85 billion per year industry led by New York State Attorney General Andrew M. Cuomo, the Department of Education issued new rules last week to prevent such illicit practices. While these federal regulations will help curb financial abuses by lenders and universities, they are not as stringent as many state statutes, and offer far too many loopholes...