Theater club – Acotonline http://acotonline.org/ Wed, 23 Nov 2022 17:22:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://acotonline.org/wp-content/uploads/2021/10/icon-4-120x120.png Theater club – Acotonline http://acotonline.org/ 32 32 Get a $600 Same-day Payday Loan for Bad Credit Now https://acotonline.org/get-a-600-same-day-payday-loan-for-bad-credit-now/ Fri, 11 Nov 2022 08:57:12 +0000 https://acotonline.org/?p=3892 A loan of $600 is considered to be a small cash advance that gives you the opportunity to borrow money quickly without placing rigorous requirements on your income, credit history, or the proof that supports your application. Because of this, it is typically not difficult to get a short-term loan for the amount of $600. […]]]>

A loan of $600 is considered to be a small cash advance that gives you the opportunity to borrow money quickly without placing rigorous requirements on your income, credit history, or the proof that supports your application. Because of this, it is typically not difficult to get a short-term loan for the amount of $600. The credit history of an application is not often taken into consideration by direct lenders, who instead place a larger focus on the applicant’s financial promises. Those with poor credit have the option of applying for a payday loan, which may be their only available choice in the event that they are confronted with unanticipated financial obligations.

Payday loans, on the other hand, are limited in both the quantities that can be borrowed and the repayment choices that are available. You have until the end of your next pay period to repay a loan of $600 in full. Loans for people with poor credit are notoriously expensive for a number of reasons, including the high annual percentage rates they carry. Even though the fees associated with payday loans are typically quite high, the relatively short amount of time given to repay the loan keeps the overall cost at a manageable level.

Can I borrow $600 even though I have bad credit?

Even if your credit score is low, a loan up to $600 available for you. You can still submit an application for a loan of $600 if you meet the other requirements. In contrast to traditional lenders, organizations that provide payday loans do not conduct rigorous credit checks with the three major credit reporting agencies. They do not place much importance on your credit past and will regularly provide low-interest payday loans to borrowers who have a poor credit history. As a consequence of this, those seeking a $600 payday cash loan have an equal chance of being approved, regardless of the quality of their credit.

What options do I have if I need $600?

If you are looking for a financial solution that will allow you to borrow 600 dollars, you should look into options other than payday loans. The following are some examples:

  • Installment loans. Similar procedures are used for the processing of personal loans and installment loans. You can borrow up to $5,000 with the help of an installment loan, and the money can be paid back to the lender in equal portions on a monthly basis over the course of two years. However, the fees and interest rates associated with installment loans are often greater than those associated with personal loans;
  • Peer-to-peer lending. Consider asking some of your close friends or family members for a loan to cover the necessary expenses. This alternative does not incur any additional fees and is frequently one of the best available;
  • Pawn shop loans. Think about getting a loan from a pawn shop if you don’t want to provide a service provider access to your account or your personal information because you don’t want to share that information with them. However, in order to obtain a certain loan amount from a pawn shop, you will be required to part with some of your most valuable possessions. Because of this, the financial instrument that is being offered is somewhat risky.

Can I get a loan for $600 today?

The money from loans is always transferred as fast as possible by lending institutions. The funds from a loan of $600 are usually deposited by the time business is done on the following day. If you need a short-term loan and can pay it back before the end of the same working day, you should submit your application before 10:30 a.m. on a working day. The speed with which the verification process is completed will, however, be the primary factor in determining when you will really have access to the money.

Can I borrow $600 without having my credit checked?

If a direct lender makes you an offer for a loan of $600 without performing a credit check, this almost often indicates that they will only perform a “soft” credit check, which will not have a negative impact on your credit score. However, a reputable lender will review your data and may also utilize other means to get the additional information that is necessary to arrive at an acceptable choice.

When is it a good idea to borrow $600?

Borrowers often believe that payday loans are an excellent option to turn to in the event of a financial emergency. Customers who have a history of credit problems frequently take advantage of this loan choice. Due to the high cost of payday loans, you should only get one if you absolutely need it, even if direct lenders frequently do not impose any restrictions on the purposes for which the loan can be used. Borrowers generally apply for payday loans in order to pay for unforeseen costs such as repairs, utility bills, credit card payments, medical expenses, or other day-to-day necessities.

What is the minimum credit score I need to get a $600 loan?

No matter what your credit score is, you will be able to get a loan for $600. In contrast to a personal loan, a loan for $600 does not have a required minimum credit score, meaning that anyone can apply for it.

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After last-minute negotiations, judge picks winner in Philadelphia refinery auction https://acotonline.org/after-last-minute-negotiations-judge-picks-winner-in-philadelphia-refinery-auction/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/after-last-minute-negotiations-judge-picks-winner-in-philadelphia-refinery-auction/ A U.S. bankruptcy court judge on Wednesday tentatively approved the sale of Philadelphia Energy Solutions’ shuttered refinery to a Chicago company, shutting the door on more than a century of oil refining in South Philadelphia and potentially dramatically changing the city ​​landscape. ” UPDATE: Sold: Hilco of Chicago is the new owner of the Philadelphia […]]]>

A U.S. bankruptcy court judge on Wednesday tentatively approved the sale of Philadelphia Energy Solutions’ shuttered refinery to a Chicago company, shutting the door on more than a century of oil refining in South Philadelphia and potentially dramatically changing the city ​​landscape.

” UPDATE: Sold: Hilco of Chicago is the new owner of the Philadelphia refinery and 1,300 acres

Judge Kevin Gross said he was satisfied that the $252 million offer from Hilco Redevelopment Partners – increased by $12 million during an eleventh-hour round of negotiations on Wednesday – was the highest offer and the best for the 1,300-acre site, occupied by the largest on the East Coast. oil refinery until its abrupt closure on June 21 after a devastating fire.

Gross also said the decision to sell to Hilco, which told city officials it planned to demolish the refinery and replace it with a mixed-use industrial park, was “clearly in the best interest of the community,” citing the “numerous and repeated problems.

After dealing with most of the objections on Wednesday, the judge said he would be ready to sign an order on Thursday confirming the refinery’s bankruptcy reorganization after lawyers representing various parties had a chance to review the document in the night.

There was an urgent need to close the deal by Thursday, a deadline set by the expiration of Hilco’s offer.

“The day after tomorrow, Hilco disappears, the plan disappears,” Gross told the packed Wilmington courtroom. “What is a judge supposed to do? Gross has scheduled a hearing for Thursday at 1 p.m., in case parties raise new objections he has not yet ruled on.

With final approval expected Thursday, Hilco would be in charge of developing Philadelphia’s largest available commercial real estate parcel. Environmental activists have long criticized the refinery as the city’s largest stationary source of air pollution. And, community activists want the site to be used for something more than a refinery after June’s catastrophic explosion served as a dramatic reminder of the risks posed by the fuel refining complex.

” LEARN MORE: What you need to know about the Chicago firm redoing the South Philly refinery site

However, the site will first have to undergo major environmental remediation after more than a century of oil refining. But it’s not immediately clear when that will happen and who will foot the bill.

On Wednesday, the Clean Air Council, a frequent legal opponent of the refinery, welcomed its permanent closure.

“Hilco must work with all stakeholders to capitalize on this opportunity to transform the site so that it protects our air, water, health and safety while driving economic development and well-paying union jobs,” said said Joseph Otis Minott, executive director of the council. A declaration.

Hilco’s experience in industrial property redevelopment includes the acquisition of former power plant sites in Boston and New Jersey, and the construction of warehouses on a former steel mill site in Baltimore.

The start of Wednesday’s hearing was delayed by nearly six hours as a frantic round of closed-door negotiations took place, resulting in settlements on most of the objections raised last week by unsecured creditors, the United Steelworkers union and other parties.

A competing development company, Industrial Realty Group, made a belated effort to bolster its bid and snatch the refinery from Hilco, which was selected after an auction Jan. 17. This apparently explained Hilco’s offer to increase its payout to $252 million from the previously agreed-upon $240 million.

The IRG had teamed up with former PES chief executive Philip Rinaldi, who wanted to restart the refinery. Rinaldi’s effort was supported by unions, including the United Steelworkers, which represented more than 600 of the refinery’s 1,100 workers.

Rinaldi said he was “very disappointed” with Wednesday’s result.

Ryan O’Callaghan, the president of Steelworkers Local 10-1 before he lost his job in the mass layoffs that followed the refinery’s shutdown, sat sullen during Wednesday’s hearing. “It’s not good,” he said.

Steelworkers International, however, signed a revised agreement after adding a $5 million severance package as payment to workers who lost their jobs. The new plan also includes guarantees from PES and Hilco that unionized workers would remain employed to maintain the refinery and continue to dispose of leftover fuels, a process that is expected to take at least a year. Hilco has also agreed to work with unions on future jobs at the site.

PES and its secured lenders have also agreed to set aside $20 million for unsecured commercial creditors, who can sign up and immediately receive a small portion of their claims – around 10 to 12 cents on the dollar – in exchange for the waiver of future legal claims.

“It’s far from a perfect outcome,” said Robert J. Stark, an attorney representing the committee of unsecured creditors, who agreed to withdraw his objections to the plan. He said the result made the best of a “horrible” situation. “We did the best we could with what we had.”

Assuming Gross approves the plan on Thursday, he could still face legal challenges, particularly from ICBC Standard Bank PLC, which lent the refinery millions of dollars just days before the explosion to finance its oil purchases. The bank is locked in an uphill battle with other lenders over who gets priority over the $1.25 billion in insurance claims the refinery has filed but have not been paid. This separate dispute is expected to take a long time to resolve.

The refinery complex was closed after the fire in June and a series of explosions destroyed a key unit on the Girard Point side. Girard Point is the larger of the two refineries on the site.

The largest refinery on the East Coast, PES processed 335,000 barrels of crude oil per day. But it has struggled over the past decade against competition from domestic and foreign producers, as well as the high cost of complying with federal renewable fuel standards that require ethanol to be blended into the fuel. As an older refinery, it needs a more expensive type of crude oil, which makes it harder to make a profit.

The refinery experienced a tight shutdown in 2012 when its former owner, Sunoco Inc., threatened to shut it down. But a coalition of Democrats, Republicans, labor and business leaders staged a rescue, aided by $25 million in state grants and waivers from federal environmental regulators. A majority stake was transferred to the Carlyle Group, a private equity firm.

The Carlyle-led ownership group declared bankruptcy in 2018, from which PES emerged a few months later under new ownership led by its former creditors, Credit Suisse Asset Management and Bardin Hill Investment Partners. But the refinery was not relieved of its debt and still faced fundamental competitive disadvantages.

He no longer has the same kind of bipartisan political support he had in 2012, when the region was emerging from recession and fossil fuels weren’t the unifying target they have become for climate activists.

After the fire, a spokesman for Governor Tom Wolf said the state would not accept new fiscal support to restart the PES. City officials conducted a series of public hearings last year, exploring new directions for the refinery site, produce a report in November that encouraged “cleaner, safer and better for Philadelphians” reuse.

As environmentalists and community activists rallied for the refinery’s permanent closure, unions lent support to political and business efforts to resume operations.

President Trump’s trade adviser Peter Navarro last month threw the moral support of the administration behind a plan to keep the refinery open, citing its importance to national security and energy independence.

The environmental cleanup of the contaminated site is also a major unresolved issue. Sunoco, the former owner, is responsible for remediating the soil and has agreed to place deed restrictions on the property that limit its reuse for purposes other than refining.

Hilco’s offer was conditional on obtaining covenant changes by May 31, when it is expected to close the sale or exit. John Mitchell, an attorney representing Sunoco, said at Wednesday’s hearing that the company and Hilco had reached an agreement addressing environmental issues, details of which would be included in the final plan.

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Brooks Brothers files for bankruptcy in ‘work from home’ era https://acotonline.org/brooks-brothers-files-for-bankruptcy-in-work-from-home-era/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/brooks-brothers-files-for-bankruptcy-in-work-from-home-era/ Brooks Brothers has become the latest venerable retailer to be pushed overboard by the coronavirus pandemic as the two-century-old US business clothing supplier filed for bankruptcy protection in the United States. The New York-based company, whose high-end suits were once sported by presidents such as Abraham Lincoln and John F Kennedy and stars such as […]]]>

Brooks Brothers has become the latest venerable retailer to be pushed overboard by the coronavirus pandemic as the two-century-old US business clothing supplier filed for bankruptcy protection in the United States.

The New York-based company, whose high-end suits were once sported by presidents such as Abraham Lincoln and John F Kennedy and stars such as Fred Astaire as well as generations of Wall Street bankers, filed for protection on Wednesday. of Chapter 11 in Delaware.

Brooks Brothers, which has about 500 stores worldwide and employs 4,000 people, said it secured $75 million in financing to weather bankruptcy as it intended to find a buyer and avoid liquidation.

“Brooks Brothers is here to stay and serve our loyal customers for years to come,” he said in a statement Wednesday, adding that he hoped to close a sale in the coming months.

The dossier highlights the growing financial pressures on retail in the United States as drop in sales leaves the chains struggling to meet their financial obligations. fashion group J-Crew and department store chain Neiman Marcus are among other chains that have also filed for bankruptcy protection during the pandemic.

Further bankruptcies are expected in the coming weeks. Ascena Retail, the womenswear group behind Ann Taylor, which did women’s office wear, said it was weighing “all options” to protect its business as it grapples with a heavy burden of the debt.

Over the past week, denim fashion companies G-Star RAW and Lucky Brand have filed for Chapter 11 protection.

Founded in 1818 by Henry Sands Brooks, Brooks Brothers is today owned by Italian businessman Claudio Del Vecchio, whose father founded the Luxottica eyewear group.

Mr Del Vecchio took charge after buying the business from Marks and Spencer in 2001 for $225 million, a fraction of the $750 million the British retailer had paid for it. Former owners of the retailer, which is headquartered on Madison Avenue in Manhattan, include Robert Campeau, the late Canadian real estate developer.

Despite its prestigious history, the company suffered as workplaces became more casual and the button-down Oxfords, suspenders and oxfords that had long epitomized the Brooks Brothers look fell out of favor.

Conservative brands seemed increasingly disconnected from younger shoppers who turned to alternative brands in part because they were seen as more inclusive, said Neil Saunders, managing director of GlobalData Retail.

“When it comes to taste and style, Brooks Brothers is swimming against the tide,” he said. “Its formal, old-school approach has found favor with a mature, more traditional demographic, but has become increasingly out of step with a new generation of consumers.”

Brooks Brothers was looking to modernize the brand, offering shorts, fleeces and t-shirts, and had conducted a strategic review before the pandemic.

However, the coronavirus shutdown has taken its toll, not least because the increase in working from home has further reduced demand for her workwear. The company had already decided to close around fifty stores.

Mr Del Vecchio said in a statement: “Our priority is to begin this important chapter with a new owner who appreciates the heritage of Brooks Brothers.”

Bankruptcy financing for Brooks Brothers will be provided by WHP Global, a brand management company, subject to court approval.

Brooks Brothers is advised by law firm Weil, Gotshal & Manges, restructuring specialists Ankura Consulting and financial adviser PJ Solomon.

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Section 1126 of the Bankruptcy Code and the dangers of sleeping on your rights as a creditor | Patterson Belknap Webb & Tyler LLP https://acotonline.org/section-1126-of-the-bankruptcy-code-and-the-dangers-of-sleeping-on-your-rights-as-a-creditor-patterson-belknap-webb-tyler-llp/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/section-1126-of-the-bankruptcy-code-and-the-dangers-of-sleeping-on-your-rights-as-a-creditor-patterson-belknap-webb-tyler-llp/ A seat at the table is probably what you want when your financial interests are embroiled in bankruptcy proceedings. You will seek to be heard and do what you can to maximize your recovery. This is especially true if you are a creditor in a Chapter 11 case. Yet a recent decision shows what can […]]]>

A seat at the table is probably what you want when your financial interests are embroiled in bankruptcy proceedings. You will seek to be heard and do what you can to maximize your recovery. This is especially true if you are a creditor in a Chapter 11 case. Yet a recent decision shows what can happen if you do the opposite and choose to “do nothing” rather than have a say in the matter. outcome of a Chapter 11 case. In re Fred BresslerNo. 20-31023, 21 WL 126184 (Bankr. SD Tex. January 13, 2021).

Debtor Fred Jay Bressler, MD filed for bankruptcy under Chapter 11, Subchapter V of Title 11 of the Bankruptcy Code. Two mortgage companies had more than $800,000 in secured debt and 33 creditors had unsecured debt totaling about $1.1 million. One of the secured claims was held by Harris County, Texas for approximately $14,000 in unpaid property taxes on Dr. Bressler’s personal residence.

About seven months later, Dr. Bressler filed a disclosure statement and a reorganization plan. The plan proposed to pay unsecured creditors $300,000 over five years and to make regular mortgage payments to secured creditors. The plan classified Harris County’s claim as an impaired secured claim that would be paid in full in five years, subject to the county’s agreement. Harris County voted to accept the plan. Only seven unsecured creditors voted on the plan, all in favor. But those claims only totaled $75,000.

The bankruptcy court approved the disclosure statement and scheduled a confirmation hearing. During that hearing, bankruptcy judge Eduardo Rodriguez questioned whether Dr. Bressler had obtained the necessary votes to confirm the plan. For a class to accept a plan, Section 1126(c) of the Bankruptcy Code requires the affirmative vote of two-thirds in amount and one-half in number. The seven of the 33 unsecured creditors who voted on Dr. Bressler’s plan held less than 10% of the unsecured claims. Bankruptcy Judge Rodriguez asked Dr. Bressler to file an amended plan and scheduled a second hearing. At the second hearing, Judge Rodriguez again asked if Dr. Bressler had the necessary votes to confirm the modified plan and asked the parties to bring the matter to light.

In his ruling, Judge Rodriguez addressed the handling of claims by non-voting creditors. Importantly, Judge Rodriguez observed that “failure to vote in writing does not constitute either acceptance or rejection of the plan…These ‘non-votes’ do not satisfy the language of §1126(c) and therefore, does not count towards the number requirements. In re Fred Bressler at 3.

The practical implications of this decision are striking:

Claims which have not been voted on or which have been disputed by an interested party and which are not temporarily authorized by the Court for the purpose of a vote in accordance with Rule 3018(a), are not taken into account. Therefore, if there is only one member of a class, according to Rule 3018(c)votes in favor of the plan and all others do not vote, the voting member binds the entire class and that class will be deemed to have accepted the plan (emphasis added). Identifier.

Consequently, In re Fred Bressler demonstrates the pitfalls for creditors who do not participate in a Chapter 11 case. If creditors remain passive like the 26 creditors in this case who, in total, held more than 90% of Dr. receiving only about 25% aggregate recovery, they risk having an outcome determined by other creditors who may have divergent and potentially conflicting end goals. This could lead to a reorganization plan that leaves creditors asleep with insufficient collection.

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PSP Projects (NSE:PSPPROJECT) takes some risk with its use of debt https://acotonline.org/psp-projects-nsepspproject-takes-some-risk-with-its-use-of-debt/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/psp-projects-nsepspproject-takes-some-risk-with-its-use-of-debt/ Berkshire Hathaway’s Charlie Munger-backed outside fund manager Li Lu is quick to say, “The biggest risk in investing isn’t price volatility, but whether you’re going to suffer a permanent loss of capital “. It’s natural to consider a company’s balance sheet when looking at its riskiness, as debt is often involved when a company fails. […]]]>

Berkshire Hathaway’s Charlie Munger-backed outside fund manager Li Lu is quick to say, “The biggest risk in investing isn’t price volatility, but whether you’re going to suffer a permanent loss of capital “. It’s natural to consider a company’s balance sheet when looking at its riskiness, as debt is often involved when a company fails. We note that Limited PSP projects (NSE:PSPPROJECT) has a debt on its balance sheet. But should shareholders worry about its use of debt?

When is debt a problem?

Debt is a tool to help businesses grow, but if a business is unable to repay its lenders, it exists at their mercy. In the worst case, a company can go bankrupt if it cannot pay its creditors. Although not too common, we often see companies in debt permanently diluting their shareholders because lenders force them to raise capital at a ridiculous price. Of course, many companies use debt to finance their growth, without any negative consequences. When we look at debt levels, we first consider cash and debt levels, together.

See our latest analysis for PSP projects

What is PSP Projects net debt?

As you can see below, at the end of September 2020, PSP Projects had ₹1.18 billion in debt, up from ₹752.9 million a year ago. Click on the image for more details. But on the other hand, it also has ₹2.92 billion in cash, resulting in a net cash position of ₹1.75 billion.

NSEI:PSPPROJECT Historical Debt to Equity March 12, 2021

A look at the liabilities of PSP projects

Zooming in on the latest balance sheet data, we can see that PSP Projects had liabilities of ₹4.18 billion due within 12 months and liabilities of ₹39.9 million due beyond. On the other hand, it had cash of ₹2.92 billion and ₹2.10 billion in receivables due within a year. Thus, he can boast of having ₹810.6 million more liquid assets than total Passives.

This surplus suggests that PSP Projects has a conservative balance sheet and could probably eliminate its debt without too much difficulty. Simply put, the fact that PSP Projects has more cash than debt is arguably a good indication that it can safely manage its debt.

Fortunately, the burden of PSP Projects is not too heavy, because its EBIT fell by 41% over last year. When a company sees its profit reservoir, it can sometimes find its relationship with its lenders soured. The balance sheet is clearly the area to focus on when analyzing debt. But ultimately, the company’s future profitability will decide whether PSP Projects can strengthen its balance sheet over time. So if you want to see what the pros think, you might find this free analyst earnings forecast report Be interesting.

Finally, while the taxman may love accounting profits, lenders only accept cash. Although PSP Projects has net cash on its balance sheet, it’s still worth looking at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it’s building ( or erodes) this treasury. balance. Over the past three years, PSP Projects has burned a lot of money. While investors no doubt expect a reversal of this situation in due course, it clearly means that its use of debt is more risky.

Summary

While we sympathize with investors who find debt a concern, you should bear in mind that PSP Projects has a net cash position of ₹1.75 billion, as well as more liquid assets than liabilities. So while we see areas for improvement, we’re not too worried about PSP Projects’ track record. When analyzing debt levels, the balance sheet is the obvious starting point. But at the end of the day, every business can contain risks that exist outside of the balance sheet. To this end, you should be aware of the 2 warning signs we spotted with PSP Projects .

If you are interested in investing in companies that can generate profits without the burden of debt, then check out this free list of growing companies that have net cash on the balance sheet.

If you’re looking to trade PSP projects, open an account with the cheapest* pro-approved platform, Interactive brokers. Their clients from over 200 countries and territories trade stocks, options, futures, currencies, bonds and funds worldwide from a single integrated account. Promoted

Valuation is complex, but we help make it simple.

Find out if PSP projects is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

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Tax protester Tim Eyman files for bankruptcy as legal issues persist https://acotonline.org/tax-protester-tim-eyman-files-for-bankruptcy-as-legal-issues-persist/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/tax-protester-tim-eyman-files-for-bankruptcy-as-legal-issues-persist/ Eyman says rising legal costs have forced him to seek protection and possible reorganization of his debts under Chapter 11. Tim Eyman filed for bankruptcy on Wednesday, adding another wrinkle to the anti-tax crusader’s legal saga. Eyman and Citizen Solutions, a signature collection company, fought against a lawsuit filed last year by state attorney general […]]]>

Eyman says rising legal costs have forced him to seek protection and possible reorganization of his debts under Chapter 11.

Tim Eyman filed for bankruptcy on Wednesday, adding another wrinkle to the anti-tax crusader’s legal saga.

Eyman and Citizen Solutions, a signature collection company, fought against a lawsuit filed last year by state attorney general Bob Ferguson. In an email Eyman sent to supporters and reporters, he said the lawsuit had taxed his finances and his family to breaking point.

“While the AG had unlimited resources to assign teams of taxpayer-funded attorneys to bury me and my attorneys in an endless maze of motions and proceedings, my legal costs had to be privately funded (from the limited resources of my family and the financial support of people like you),” Eyman wrote.

Eyman filed a Chapter 11 lawsuit in the U.S. Bankruptcy Court for the Western District of Washington in an effort to protect his financial assets while defending against the state. According to the filing, Eyman has just over $2 million in assets against liabilities of nearly $3.2 million. Washington State is cited as being liable for almost all of the $3,177,000. Other creditors include Seattle law firm Klinedinst, which owes $77,000 in legal fees.

The attorney general’s trial against Eyman had been set for November 26, but months ago it was pushed back to January 2020.

In an emailed statement, Ferguson said Eyman’s legal and financial troubles were self-inflicted.

“The public should know that in addition to being held in contempt of court, Mr. Eyman was due to sit for deposition in this case in less than two weeks and has informed the court that he plans to invoke his right to a fifth amendment to avoid self-incrimination, something he has already done in his written discovery responses,” Ferguson said.

The bankruptcy filing revealed that Eyman had been earning $42,573.84 a month since May, owned his house in Mukilteo and three cars; a 2013 Ford Explorer, a 2013 Mercedes C300 and a 2012 Chrysler Touring 200. The documents show he has $198,000 in his checking account and says he owes her $500,000 which he lent to his efforts to place a $30 car tab initiative on the next ballot.

Eyman’s record provides a year-to-date average of his monthly income, which consists of $13,461.44 in gifts from supporters for his legal defense; $21,695.97 from supporters and family and $2,154.55 from loved ones.

Ferguson also noted that the financial gifts he received could violate campaign finance laws. “We note that Mr. Eyman claims to have received more than $20,000 per month in gifts. We look forward to presenting our case to the court that these donations are in fact political contributions, solicited for political purposes, which should have been reported to the public. We have sought permission from the court to amend our complaint to include other alleged violations of Washington’s campaign finance laws,” he said.

The state lawsuit, filed in Thurston County, stems from a complaint filed with the Public Disclosure Commission in 2015 regarding Eyman’s alleged improper use of money raised for an initiative but spent on a another initiative effort in 2012. The lawsuit also accused Eyman of spending money raised for initiatives 2012, I-1185 and I-517, on personal expenses and his family.

In September, the judge in charge of this case found Eyman in contempt of court for failing to turn over records, and increased fines for Eyman and Citizen Solutions to $500 a day each. The attorney general’s office estimates that Eyman and Citizen Solutions racked up a combined fine of $182,500.

I-1185 sought to reinstate a law requiring a two-thirds vote of the legislature to raise taxes. It was passed that year, but the state Supreme Court struck it down. I-517, which voters did not approve, was intended to bolster the power of initiative groups and would have given campaigns an additional six months to collect petition signatures.

The trial of the AG stems from a complaint investigation in 2015 by the state’s Public Disclosure Commission which alleged that Eyman improperly used money raised for Initiative 1185 to promote Initiative 517.

In a September filing in Thurston County Superior Court, Ferguson wrote that Eyman withheld discoverable financial records for 14 months after he had numerous opportunities to voluntarily produce the records. “Instead of complying, he chose to resist all state efforts to secure these recordings and orders to produce them,” Ferguson wrote.

In his email, Eyman said the extension of the lawsuit to 2020 was ‘devastating’ because of his mounting legal costs, which totaled $80,000 last month, leaving him with no choice but bankruptcy. .

Eyman also noted that the strain of legal proceedings broke up his 25-year marriage and led to his wife’s divorce. The Eymans have three children between the ages of 10 and 20.

An earlier version of this story misrepresented Eyman’s monthly income since May.

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Stipulation and agreed order require Dean Foods to pay 90% of its USDA milk marketing obligations after bankruptcy https://acotonline.org/stipulation-and-agreed-order-require-dean-foods-to-pay-90-of-its-usda-milk-marketing-obligations-after-bankruptcy/ Fri, 12 Mar 2021 01:43:37 +0000 https://acotonline.org/stipulation-and-agreed-order-require-dean-foods-to-pay-90-of-its-usda-milk-marketing-obligations-after-bankruptcy/ On January 15, 2021, the Honorable Chief Justice David R. Jones, of the United States Bankruptcy Court for the Southern District of Texas, executed and entered into a Stipulation and Agreed Order (Order) between the United States Department of Justice (DOJ), who is official legal counsel to the United States Department of Agriculture (USDA) and […]]]>

On January 15, 2021, the Honorable Chief Justice David R. Jones, of the United States Bankruptcy Court for the Southern District of Texas, executed and entered into a Stipulation and Agreed Order (Order) between the United States Department of Justice (DOJ), who is official legal counsel to the United States Department of Agriculture (USDA) and Dean Foods.

The order requires Dean Foods to pay within 30 days $29,082,182.26, or 90% of its USDA obligations for milk marketed in April 2020 and May 2020.

On November 12, 2019, Southern Foods Group, LLC, et al., (Dean Foods) filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. At that time, Dean Foods had 43 factories regulated by the Federal Milk Marketing Ordinance (FMMO) system. After the filing date, Dean Foods, as debtor in possession (Dean DIP), did not make payments to the USDA for milk marketed from April 1, 2020 through May 4, 2020, for a total of 32,313 $535.84. The missed payments included amounts owed to the FMMO program, the National Milk Research and Promotion Program and the National Fluid Milk Processors Promotion Program.

Upon receipt of payment, USDA will remit monies owed to FMMO-regulated handlers and Dairy and Fluid Milk Promotion Boards. Once handlers receive payments from the USDA, FMMO regulations require that the money be promptly returned to producers.

Procedures for payment from Managers to Producers will be communicated by the respective FMMO Market Administrators.

Dean Foods’ $16 million pre-petition debt owed to the USDA is not covered by this stipulation and approved order. The USDA timely filed proofs of claim for these pre-petition obligations and will continue to pursue payment of these claims in the bankruptcy proceedings.

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Francesca’s bankruptcy records, selling eyes https://acotonline.org/francescas-bankruptcy-records-selling-eyes/ Fri, 12 Mar 2021 01:43:36 +0000 https://acotonline.org/francescas-bankruptcy-records-selling-eyes/ by Francescathe women’s clothing and footwear retailer, filed for bankruptcy with the intention of emerging through a sale process. The company entered bankruptcy filing in Delaware late Thursday with a letter of intent with investment firm TerraMar Capital, for TerraMar or an affiliate to be its bidder in a sell-as-you-go process. the case is progressing, […]]]>

by Francescathe women’s clothing and footwear retailer, filed for bankruptcy with the intention of emerging through a sale process.

The company entered bankruptcy filing in Delaware late Thursday with a letter of intent with investment firm TerraMar Capital, for TerraMar or an affiliate to be its bidder in a sell-as-you-go process. the case is progressing, according to the retailer. The company also added that a “number of other parties” were also doing due diligence on the sale prospect.

No more WWD

In a statement, the retailer said it plans to execute a sale of its “core retail sites as well as its promising digital expansion and new brand launches.” The company, which last month said it plans to close 140 sites by January 30, goes bankrupt with 558 locations. As the retailer struggles to renegotiate rent during the bankruptcy process, it could close more stores, he said.

by Francesca also commenced proceedings with an agreement from its lender Tiger Finance LLC for a $25 million debtor-in-possession loan that the court is expected to consider for customary approval at an initial hearing in the case.

“Implementing this process allows Francesca’s to meet our lease obligations and seek a new investor who can see Francesca’s into the future,” said Andrew Clarke, CEO of the retailer.

“The funding provided by Tiger will enable Francesca’s to pursue a sales process that will allow us to continue to focus on our omnichannel strategies, optimize our store base, expand our customer base with brand extensions and generate sustainable and profitable growth,” he said.

“We are excited about the potential partnership with TerraMar and we share their faith in the future of the company. Additionally, a number of other parties are currently engaged in the due diligence process to own a new and revitalized Francesca’s,” Clarke said.

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Trump’s tax returns still matter https://acotonline.org/trumps-tax-returns-still-matter/ Fri, 12 Mar 2021 01:43:36 +0000 https://acotonline.org/trumps-tax-returns-still-matter/ It is quite understandable that covering President Trump’s case of covid-19 sucks in tons of journalistic oxygen. Just like the endless mastication of his debate with Joe Biden. But you know what? There are things about Trump other than his covid-19 diagnosis and his debating behavior that matter too. Things that should not be forgotten […]]]>

It is quite understandable that covering President Trump’s case of covid-19 sucks in tons of journalistic oxygen. Just like the endless mastication of his debate with Joe Biden.

But you know what? There are things about Trump other than his covid-19 diagnosis and his debating behavior that matter too. Things that should not be forgotten or ignored, and from which we can learn a lot.

Follow the latest news on the coronavirus

The case in point: recent articles from the New York Times on the federal income taxes that Trump paid — or didn’t pay — both as a private citizen and after moving into the Oval Office.

I loved a lot of the details, which remind me of my years of writing financial gameplay. But there is one thing I want to warn you about – the idea, implicit in the stories, that because Trump has personally guaranteed some of his companies’ troubled loans, he may well go bankrupt when those debts come due in a few years.

I’m skeptical about this because of what I learned about Trump at the time, when I was writing about his financial troubles.

I realized that while Trump is good at getting himself into trouble because he lacks impulse control and can’t tolerate strong subordinates who tell him ‘no’, he’s still better at getting out of trouble. trouble only to get into it.

Trump is either a tax cheat or the worst businessman in the world

So let me briefly explain how I made the mistake of shutting out Trump 30 years ago.

I met Trump in the late 1980s, when I started writing a business column for the now defunct New York Newsday tabloid. Because I specialized in exposing financial excesses and was used to dealing with people who do numbers, I realized early on that Trump’s real estate and casino empire was doomed to fail.

I also realized that Trump was in big personal financial trouble because he recklessly personally guaranteed over $800 million of his companies’ $3.3 billion in debt.

As you’d expect if you know any of us, Trump and I didn’t get along. We used to go towards each other, with her Queens accent and my Brooklyn accent both getting louder as we talked longer and louder.

On June 17, 1990, the New York Newsday featured my front-page column on “The Donald,” as we used to call it. The headline: The party is over for Trump.

In this long article, I provided many reasons why Trump was doomed, why he was fading into the sunset and we would never hear from him again.

It didn’t quite work, did it? Although he was involved in six Chapter 11 bankruptcies and numerous other defaults and debacles, he managed to avoid going bankrupt himself and became a national figure through his television show “The Apprentice”, which brought him fame and money.

Never mind. I have a framed copy of this front page to remind me that I’m not as smart as I like to think from time to time.

But even if I’m not infallible, I know how to count. And it’s clear from the Times articles that “billionaire” and “Trump” shouldn’t be used in the same sentence unless we get a reliable audited financial statement showing that the value of Trump’s assets is more than ten times higher. a billion dollars in its debts.

Trump’s Social Security tax exemption is the first shot in a class and generational war

Don’t hold your breath waiting for this to happen.

And don’t hold your breath waiting for Trump to release his statements as presidents since Richard Nixon did, no matter how many other stories about his tax clinging.

Allow me to give two reasons for this refusal: one obvious, one subtle.

The obvious reason: Trump’s tax returns undoubtedly show that his earnings do not match his claims as a multi-billionaire.

The subtle reason: If Trump’s statements became public, liberal tax lawyers would compete to dissect them and offer information and insights to the IRS to help it win in its long dispute with Trump over a big deal. tax refund that has been audited for years.

Now let me tell you why we taxpayers should care about how much federal income tax our leaders, especially our president, pay.

Our leaders are expected to lead by example, both to help defray the costs of the benefits they get from government and to encourage tax compliance by ordinary citizens.

If Trump wants to be a real leader after his recovery instead of trying to play one on TV, it’s not too late. He could lead by releasing his tax returns, exposing the games his accountants and tax lawyers have played to allow him to pay taxes at far lower rates than typical blue-collar families, and then sponsoring legislation to end the games.

Alas, I think the odds of that happening are about the same as those of fish learning to fly. Or Trump going silent in a presidential debate while someone else tries to say something.

Alice Crites contributed to this report.

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Do you think gold can only be a zero income asset? Give ‘SGDM’ a look https://acotonline.org/do-you-think-gold-can-only-be-a-zero-income-asset-give-sgdm-a-look/ Fri, 12 Mar 2021 01:43:36 +0000 https://acotonline.org/do-you-think-gold-can-only-be-a-zero-income-asset-give-sgdm-a-look/ Gold bullion itself does not offer dividends or interest payments to investors, which means it is a zero income asset, but investors can earn income through miners gold and exchange-traded funds such as the Sprott Gold Miners ETF (NYSEArca: SGDM). SGDM tracks the Solactive Gold Miners Custom Factors Index and “emphasizes gold companies with the […]]]>

Gold bullion itself does not offer dividends or interest payments to investors, which means it is a zero income asset, but investors can earn income through miners gold and exchange-traded funds such as the Sprott Gold Miners ETF (NYSEArca: SGDM).

SGDM tracks the Solactive Gold Miners Custom Factors Index and “emphasizes gold companies with the highest revenue growth and free cash flow yield, and the lowest long-term debt-to-equity ratio “, according to the issuer.

What makes SGDM attractive in today’s low interest rate environment is that large gold mining companies are becoming credible dividend growth ideas.

“Precious metal miners are expected to more than double their dividends this year to outpace copper producers’ 75% rise, according to Bloomberg’s annual dividend forecast for industry groups from Bloomberg Intelligence,” reports Bloomberg.

SGDM: Paying the Revenue Bill

Due to SGDM’s unique methodology – which avoids market capitalization weighting – the Sprott ETF is positioned to help investors take advantage of increased miner payouts.

SGDM tracks mid- to large-cap gold mining companies, but the underlying index weights the constituents based on quarterly year-over-year revenue growth and the quality of their balance sheets as measured by the long-term debt to equity. By emphasizing balance sheet strength, the fund has greater exposure to companies with lower long-term debt-to-equity ratios. These organizations are better prepared for economic downturns.

“Bullion producers have been more successful in rewarding investors with higher dividends than copper companies over the past two years, thanks to their ability to generate excess cash higher gold prices,” adds Bloomberg.AngloGold Ashanti Ltd. has more than quintupled its dividend this week after record gold prices boosted earnings, following similar moves from rivals including Newmont Corp.

Dividend-paying stocks can also help protect investors from a broad market pullback. This is particularly the case for the components of this model portfolio which, due to their qualitative characteristics, tend to show less volatility on the crude markets. Dividend growth is also significant today as payout producers generally resist rising rates. This is extremely relevant with rising Treasury yields.

For more news, insights and strategy visit the Gold and silver investment channel.Learn more at ETFtrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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