MFs reduce exposure to low-grade corporate debt Aug 20, 2008
At this juncture, with debt funds not doing too well on account of adverse interest rates, the risk of credit defaults is the last thing that mutual fund houses would like to take. This is the reason why fund managers are being conservative at the moment, Crisil financial sector ratings head Krishnan Sitaraman said. (India Times)
The Freddie & Fannie rope trick Aug 11, 2008
At this level of leverage, it does not take much delinquency by the ultimate homeowners or adverse interest rate movements to bring the edifice crashing down and this was exactly the situation Freddie and Fannie were inexorably heading towards. The market called the bluff on the financial health of the GSE duo and business as usual became untenable for them. (India Times)
Judge Bars Suit Alleging Negligence by Hedge Fund Accountants Jul 13, 2008
The liquidators also maintained that since they are seeking to recover damages that will benefit innocent investors, and not the investment managers who perpetrated the fraud, they are not barred from bringing this negligence claim against Ernst & Young under the "adverse interest" exception to imputation ... Here, the evidence showed the fund had financially benefited from the fraudulent acts, making the "adverse interest" exception inapplicable. (Law.com)
W Holding Company, Inc., the Financial Holding Company of Westernbank Puerto Rico, Provides an Update Feb 6, 2008
Such factors include particularly, but are not limited to the possibility of prolonged adverse economic conditions or that an adverse interest rate environment could develop. For a discussion of these and other risks and uncertainties, please refer to Item 1A of the Company's Annual Report on Form 10-K for the most recently completed fiscal year. (PR Newswire)
Bankruptcy Trustee Suits Cause Increasing Concern for Law Firms Nov 27, 2007
Most bankruptcy trustee suits against lawyers cite the so-called adverse interest exception, under which in pari delicto does not apply because the company's executives committed fraud not on the company's behalf but wholly for their own personal benefit. The judge overseeing the DVI case declined last October to dismiss claims against Clifford Chance on in pari delicto grounds, citing the adverse interest exception. (Law.com)
Northern Rock Says Full-Year Profit Growth Will Miss Analyst Estimates Jun 27, 2007
The UK mortgage market remains robust and we are continuing to trade strongly, despite an adverse interest rate environment,'' Chief Executive Officer Adam Applegarth said in the statement. The company said April 2 that profit may rise 18 percent to 434 million pounds this year, helped by cost controls and increased mortgage lending. (Bloomberg -- UK)
Northern Rock Says Full-Year Profit Will Fall Short of Analysts' Estimates Jun 27, 2007
The UK mortgage market remains robust and we are continuing to trade strongly, despite an adverse interest rate environment,'' Chief Executive Officer Adam Applegarth said in today's statement. Net interest income will decline by as much as 200 million pounds, the bank said. (Bloomberg -- Europe)
W Holding Company, Inc., the Financial Holding Company of Westernbank Puerto Rico, Reports Earnings Results for the Quarter and Year Ended December 31, 2006 Jan 31, 2007
" Such information can be identified by the use of forward- looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," "intend," "continue," or "believe," or the negatives or other variations of these terms or comparable terminology. Forward-looking statements with respect to future financial conditions, results of operations and businesses of the Company are always subject to various risk and market factors out of management's control which could cause future... (PR Newswire)
