Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image source: The Motley Fool See all posts by Peter Stephens Why I’m following Warren Buffett’s advice to capitalise on the FTSE 100’s 20% crash Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares Peter Stephens has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Peter Stephens | Sunday, 15th March, 2020 Simply click below to discover how you can take advantage of this. The FTSE 100’s performance in 2020 has been hugely disappointing for many investors. However, for value investors who aim to ‘buy low’ and ’sell high’, it could prove to be a buying opportunity.In past stock market crises, value investors such as Warren Buffett have been able to purchase high-quality companies at low prices while other investors are downbeat about their prospects.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Although there may be further declines ahead for the FTSE 100, there appear to be numerous buying opportunities available today which could improve your long-term financial outlook.Risk/rewardThere are clear short-term risks facing investors at present. The impact of coronavirus on the world economy’s performance is a known unknown. Similarly, weakness in the oil and gas industry could have knock-on effects for the financial services sector and the wider economy. As such, the value of your investments may fall in the near term.However, value investors such as Buffett take a long-term view on their holdings. They’re unlikely to be overly concerned about the performance of their portfolios in the coming months. Instead, they’re likely to be contemplating how they can grow their portfolio size over the coming years.One way to achieve this goal is to buy high-quality businesses while they offer wide margins of safety. Not only can this reduce the risks facing an investor (since they’re purchasing a stock below its intrinsic value) it may also lead to high rewards in the long run as prospects for the world economy improve.Economic moatsAs well as buying shares when they’re cheap, value investors focus on the quality of a business. One means of doing this is to assess a company’s economic moat, or competitive advantage.A business, for example, may have a lower cost base than its rivals, or benefit from strong brand loyalty. It may have greater financial strength, or a more diverse set of operations. All of these factors could make it a more attractive investment proposition than its peers. They also increasing the chances of overcoming short-term risks to post long-term capital returns.Therefore, focusing your capital on higher-quality shares with wide economic moats could be a sensible move while the prospects for the world economy remain highly uncertain.FundamentalsBuffett has been hugely successful at developing a habit of buying while other investors are selling. He’s been able to purchase stocks for significantly below their intrinsic values over a long time period.One reason for this is he focuses on the fundamentals of a business, and ignores investor sentiment. While this can be difficult when your portfolio is declining in value and the outlook for the world economy is challenging, it may help you to capitalise on the FTSE 100’s recent decline.The index has always recovered from its various crises over the years, and value investors could be among those who benefit from its present short-term challenges.
Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image source: Getty Images. Rupert Hargreaves owns shares in Regional REIT and British American Tobacco. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. There’s currently a whole range of UK dividend stocks on the market that support yields of 5% or more. As such, here’s a list of five dividend stocks with yields of 7% I would buy today. UK dividend stocksAs I mentioned above, investors are spoilt for choice when it comes to finding income stocks in the current market.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, I’m going to focus on mid-cap firms only. I think small-cap investing is incredibly risky, and it might not be sensible to hunt for income in the small-cap space as it’s more likely a small business will have to cut its dividend at short notice.That’s not to say the dividend from large caps is always guaranteed. No dividend is ever 100% secure, which means buying stocks for income may not be the best strategy for all investors. Still, I’m comfortable with the level of risk involved in buying high-yield UK dividend stocks such as Regional REIT. This property company currently offers investors a yield of 8.5%, which is more than double the market average.There’s a reason why the yield is so high. Commercial property values have plunged in the pandemic. So have rents. Regional has been able to escape the worst, but that does not mean it will continue to do so, which could put the dividend at risk. Sabre Insurance and Plus500 don’t have exposure to commercial property. However, these firms have their own risks. The UK motor insurance industry is highly competitive, and it’s very challenging to earn a profit consistently. That’s always been an issue for Sabre. Plus500, on the other hand, could suffer losses in volatile stock markets, as indeed it has in the past.Nevertheless, despite these risks, I’d buy the two dividend stocks for their income potential. Sabre currently yields 7.8%, while Plus500 yields 7.2%. I think these income streams could add some excitement to a diversified portfolio of UK shares. Blue-chip income Finally, two UK dividend stocks in the blue-chip space I’d buy are British American Tobacco and BP. These investments support dividend yields of between 7% and 8.3% at the time of writing. One of the reasons why investors have been selling these stocks recently (which has resulted in higher dividend yields) is ethical considerations. BP has terrible green credentials, while British American has been shunned for its business of selling cigarettes. Investors need to keep these two factors in mind, as they could be significant risks to the companies’ long-term potential. However, British American has been managing its exposure to tobacco for decades and has been able to report substantial profit growth in the past few years. On the other hand, BP wants to invest billions over the next decade in renewable energy projects. So, while these firms face risks today, BP is planning to manage is challenges, while British American has a history of dealing with the issues facing its future. Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. 5 UK dividend stocks with yields of 7% I’d buy I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Rupert Hargreaves | Sunday, 28th February, 2021 Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. See all posts by Rupert Hargreaves
About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Community Foundation for Ireland increased its grant giving between 2011 and 2012, from €1.7 million to €2.4 million, according to its latest annual report. The Foundation also increased the value of its endowment, from €26.8 million to €28.7 million in 2012. The endowment increase was due to both new donors and capital growth. A number of new funds started in 2012, including family funds. The Foundation also reported a ‘surge’ in activity amongst existing and new donors towards the end of year which it said may have been linked to the changes in the tax regime governing charitable donations in the 2012 budget. Advertisement Community Foundation for Ireland’s grants and endowment show growth The accounts show that private donations increased from €1.1 million to €1.3 million while donations to the endowment fund more than doubled to over €1.1 million. As well as individual donor advised funds, the Community Foundation for Ireland administers a number of company giving schemes. Examples include the SAP Fund which provided grants ranging from a few hundred euro to €50,000 for the Specialist People Foundation. Fundraising costs for the Foundation were roughly similar for both years at around €200,000. Howard Lake | 11 September 2013 | News 5 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis
Facebook Twitter Home Indiana Agriculture News Pilgrim’s Pride Pleads Guilty to Price Fixing, Sentenced to a $107 Million… SHARE Pilgrim’s Pride Pleads Guilty to Price Fixing, Sentenced to a $107 Million Criminal Fine By Hoosier Ag Today – Feb 24, 2021 Facebook Twitter SHARE Pilgrim’s Pride Corporation (Pilgrim’s), a major broiler chicken producer based in Greeley, Colorado, has pleaded guilty and has been sentenced to pay approximately $107 million in criminal fines for its participation in a conspiracy to fix prices and rig bids for broiler chicken products, the Department of Justice announced Tuesday.According to the plea agreement entered in the U.S. District Court in Denver, from as early as 2012 and continuing at least into 2017, Pilgrim’s participated in a conspiracy to suppress and eliminate competition for sales of broiler chicken products in the United States that affected at least $361 million in Pilgrim’s sales of broiler chicken products.The District Court accepted Pilgrim’s guilty plea and sentenced the company to pay a criminal fine of $107,923,572.“[Tuesday]’s guilty plea demonstrates our unwavering commitment to prosecuting companies that violate the nation’s antitrust laws, especially when it involves something as central to everyday life as the food we eat,” said Richard Powers, Acting Assistant Attorney General of the Department of Justice’s Antitrust Division. “This guilty plea is a direct result of the tireless efforts of our dedicated career prosecutors and staff, and partners at the FBI, Commerce Office of Inspector General (OIG) and USDA OIG.”“[Tuesday]’s plea is another example of the FBI’s ongoing work to eliminate bid rigging and price fixing and hold those conducting these activities accountable for their actions,” said Steven M. D’Antuono, Assistant Director in Charge of the FBI Washington Field Office. “These criminal acts cheat American workers and consumers while harming competitive markets. This ongoing investigation has yielded charges against 10 individuals for their efforts to illegally manipulate broiler chicken prices, and the FBI is committed to continuing this important work alongside the Department of Justice and our partners.”“This investigation demonstrates the government’s resolve to protect the integrity of free and open market competition,” said Peggy E. Gustafson, Inspector General of the Department of Commerce. “When competitor companies conspire to set prices that benefit themselves, American consumers are cheated. We will continue to work with our law enforcement partners to pursue such illegal activity and ensure perpetrators are held accountable. We greatly appreciate the efforts of the Department of Justice, FBI and USDA OIG on this investigation.”“We appreciate the ongoing commitment and concerted efforts of our law enforcement partners at the Department of Justice’s Antitrust Division, the FBI, and the Department of Commerce OIG to investigate a long running scheme affecting competition through the rigging of bids and price fixing of broiler chicken products,” said Special Agent-in-Charge Bethanne M. Dinkins of the U.S. Department of Agriculture (USDA) OIG. “During these uncertain times, USDA OIG will continue to dedicate resources and prioritize work that benefits hard working Americans through competitive prices for agricultural producers and fairness in pricing and quality of agricultural products for consumers.”Pilgrim’s is the first company to plead guilty for its role in a conspiracy to fix prices and rig bids for broiler chicken products. Broiler chickens are chickens raised for human consumption and sold to grocers and restaurants. Ten executives and employees at major broiler chicken producers have also previously been charged. The investigation remains ongoing.A violation of the Sherman Act carries a maximum penalty of a $100 million fine for corporations. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum fine.Source: U.S. Department of Justice news release Previous articleHoosier Ag Today Podcast for February 24, 2021Next articleCommodity Classic Launches Podcast on Farm Stress, Mental Health Hoosier Ag Today
ChinaAsia – Pacific June 2, 2021 Find out more News RSF_en China: Political commentator sentenced to eight months in prison News News News ChinaAsia – Pacific Follow the news on China Several Reporters Without Borders representatives were arrested near the Arc de Triomphe this morning in Paris after opening umbrellas bearing the words “Free Liu Xiaobo” as Chinese President Hu Jintao passed by in a motorcade on his way to deposit a wreath at the tomb of the Unknown Soldier. A total of six people – four Reporters Without Borders members and two other human rights activists – were taken to the 8th Arrondissement police station. Around 20 Reporters Without Borders members and a Canal Plus journalist were briefly detained by police at the Franklin Roosevelt metro station. Chinese pro-democracy activist Wang Longmeng (王龙蒙) was among those who were stopped.The arrests reflect the French government’s determination to suppress any reference to human rights in China in order not to offend President Hu during the three-day state visit he began yesterday. By staging a peaceful demonstration in support of Liu Xiaobo (刘哓波) and all the other dissidents, writers and human rights activists detained in China, Reporters Without Borders aimed to tear down this crass and disgraceful veil of silence.Reporters Without Borders secretary-general Jean-François Julliard said: “It is unthinkable that France, the country of human rights, is saying nothing about the situation of China’s dissidents and the systematic repression on those who advocate democracy. How can President Nicolas Sarkozy go back on the promise he made during the 2007 campaign to put human rights at the centre of his foreign policy?”Despite the realpolitik, the umbrellas defied the silence at the Arc de Triomphe today, as did the doves of peace that Reporters Without Borders released yesterday in the centre of Paris. Both of these demonstrations were a tribute to the courage of Liu Xiaobo, this year’s winner of the Nobel Peace Prize, who must be released. The French government must ask President Hu to free him. Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes Organisation to go further Help by sharing this information China’s Cyber Censorship Figures April 27, 2021 Find out more November 5, 2010 – Updated on January 20, 2016 Reporters Without Borders calls for Liu Xiaobo’s release as Chinese president passes Receive email alerts March 12, 2021 Find out more
Reports HondurasAmericas The imprecise, discretionary and hastily-approved Law on Secret Information that the Honduran parliament adopted on 13 January constitutes a major new blow to freedom of information in one of the western hemisphere’s most dangerous countries for news and information providers.Reporters Without Borders hopes that this law, which turns state-held information into a private reserve, will be overturned on the grounds of unconstitutionality.“This law strips the Institute for Access to Public Information (IAIP) of all the powers that are the very reason for its existence, namely, determining and justifying the classification of information of public interest,” Reporters Without Borders said. “These powers have been indiscriminately transferred to each state agency, which will be able to classify information as secret without having to account their decisions. We can only repeat IAIP president Doris Madrid’s objections. How much power will citizens now have for challenging the actions and decisions of public authorities? On the basis of what specific imperative will information be ‘restricted’ under the new law?“Even the way this parliamentary initiative was adopted raises questions. Dangerous in content and contrary to international law, including the Inter-American Convention on Human Rights, it is a political disaster coming as it does less than two months after the controversial general elections.”Submitted to the National Congress by Rodolfo Zelaya, a representative of conservative right National Party, and passed with virtually no debate, the law states:“Any information, documentation or material relating to the internal strategic framework of state agencies and whose revelation, if made publicly available, could produce undesirable institutional effects on the effective development of state policies or the normal functioning of public sector entities, is restricted. The power to impose this classification lies with the representative of each state entity.”Valid for five years, a “restricted” classification can be imposed unilaterally by both centralized and decentralized government entities. They also have the power to classify information as “confidential” for ten years in cases of “imminent risk or direct threat to public security and order.”A third “secret” classification for 15 years can be imposed by the National Defence and Security Council in such cases as possible threats to “constitutional order.” The Honduran president has the power to classify information as “ultrasecret” for 25 years in cases of “direct threat to territorial integrity and sovereignty.”Honduras is one of the hemisphere’s deadliest countries for journalists, with a total of 38 killed in the past decade, two thirds of them since the June 2009 coup d’état. RSF_en December 28, 2020 Find out more RSF begins research into mechanisms for protecting journalists in Latin America January 16, 2014 – Updated on January 20, 2016 Secrecy law deals major blow to public’s right to be informed Help by sharing this information to go further RSF’s 2020 Round-up: 50 journalists killed, two-thirds in countries “at peace” News May 13, 2021 Find out more Follow the news on Honduras News 2011-2020: A study of journalist murders in Latin America confirms the importance of strengthening protection policies News April 27, 2021 Find out more Organisation Receive email alerts HondurasAmericas
Subscribe 8 recommended0 commentsShareShareTweetSharePin it Business News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday More Cool Stuff Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Name (required) Mail (required) (not be published) Website Herbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeauty6 Trends To Look Like An Eye-Candy And 6 To Forget AboutHerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyTips From A Professional Stylist On How To Look Stunning In 2020HerbeautyHerbeauty Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy First Heatwave Expected Next Week Community News Make a comment Top of the News Community News Buying a home is tricky business. You have to deal with sellers both scrupulous and unscrupulous, lawyers from both sides, mortgage firms, and what not. For a seamless buying experience, what you need is a real estate agent you can trust to responsibly protect your interests and handle all the details. .Unless your mother is a realtor, Partners Trust is where you might feel you want to bring your business.Nick Segal“We have four offices on the west side, from Beverly Hills West, to Brentwood, and then to Santa Monica. Our Pasadena office is opening in a new building that also has an Urth CaffÃ©,” says founder Nick Segal. â€œWe are investors in both.â€On August 27, Partner’s Trust, which The Los Angeles Business Journal called the Southland’s fastest-growing residential real estate company, opens its first Pasadena office, bringing its unusual business model to the area.Some features that separate Partners Trust from most real estate brokerages are:â€¢ Partners Trust offers all associates an equal equity share of the business.â€¢ Partners Trust invests in real estate and other businesses and invites associates and clients to participate.“I think at the end of the day, I had a great desire to create something that was invitation-only â€“ that was a vehicle where we could truly raise the level of integrity, of partnership, collegiality,â€ says Segal.Segal, former vice president at Sotheby’s International, along with four other leading residential real estate agents, founded Partners Trust in 2009 at a time when the real estate market was in a slump. Despite the recession, the firm has grown from a single office to five, from five founding partners to 130 associates.The company has grown from $250 million in sales in 2010 to surpassing $1.1 billion in sales in 2012. Segal says his company is the number one multi-office residential real estate company in the Greater Los Angeles area in terms of production per individual associate.As Partners Trust opens its newest office in Pasadena, it won’t be a fledgling company looking to take root. Despite being a new(ish) company, Partners Trust will be a juggernaut of experience with 12 respected and top-producing real estate agents with roots in Pasadena joining the Partner Trust team.“The entrepreneurial spirit is really the driver for us, the main force. With our company not only reselling homes, we have our own acquisitions division and we now have full assets under our management that we own,” says Segal.Partners Trust knows what itâ€™s doing. And itâ€™s bringing that knowledge to Pasadena.Partners Trust Real Estate Brokerage & Acquisitions will open at 594 E. Colorado Boulevard. To learn more about the company, visit http://www.thepartnerstrust.com or call (626) 696-4800 for more details. EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Real Estate Putting The Focus on Trust in Real Estate With its grand opening on August 27, Partners Trust, a fast growing real estate brokerage, brings its vision of buying, selling and managing properties to Pasadena By FRANZ A.D. MORALES Published on Friday, October 25, 2013 | 12:04 pm Your email address will not be published. Required fields are marked * Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena
Top StoriesCreditor Will Not Become ‘Financial Creditor’ Under IBC If A Corporate Debtor Has Only Given Security By Pledging Shares, Without Undertaking To Discharge Borrower’s Liability: Supreme Court LIVELAW NEWS NETWORK3 Feb 2021 8:47 PMShare This – xThe Supreme Court has held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower’s liability, then the creditor in such a case will not become ‘financial creditor’ as defined under the Insolvency and Bankruptcy Code(IBC).The Court held that such a creditor could be a secured creditor but will not be a financial creditor under…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court has held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower’s liability, then the creditor in such a case will not become ‘financial creditor’ as defined under the Insolvency and Bankruptcy Code(IBC).The Court held that such a creditor could be a secured creditor but will not be a financial creditor under the IBC entitled to take part in the insolvency resolution process.Referring to precedents, a bench headed by Justice Ashok Bhushan held that “a person having only security interest over the assets of corporate debtor, even if falling within the description of ‘secured creditor’ by virtue of collateral security extended by the corporate debtor, would not be covered by the financial creditors as per definitions contained in sub-section (7) and (8) of Section 5”.The top court was hearing an appeal filed by Phoenix Arc Pvt Ltd challenging the orders of NCLT and NCLAT which upheld the refusal of the interim resolution professional to allow its participation in the resolution process of a corporate debtor named, Doshion Veolia Water Solutions Private Limited.Phoenix Arc was the assignee of a loan of Rs 40 crores advanced by a creditor to the parent company of the corporate debtor. As a security to that loan, the corporate debtor had executed a pledge agreement with the creditor, pledging certain shareholdings in another company.The question before the top court was whether the appellant can be a “financial creditor” solely on the basis of this pledge agreement.Senior Advocate KV Vishwanathan, appearing for the appellant, argued that the appellant will become a “financial creditor” by virtue of Section 5(8)(i) of the IBC, which mentions liability arising out of ‘guarantee or indemnity’.Ms. Ami Jain, counsel appearing for the respondent(IRP), submitted that the appellant is not a creditor as it has no right of recovery of any debt from the corporate debtor and has a limited right of enforcing and realising the value of its security in the shape of the shares held by the corporate debtor in its subsidiary. The pledge is not, in any manner, a guarantee under the Contract Act, it was argued. The Court noted that the pledge agreement in the instant case did not amount to a ‘guarantee’ as defined under Section 126 of the Contract Act, 1872, since it did not contain an undertaking by the corporate debtor to discharge the liability of the borrower.”‘The present is not a case where the corporate debtor has entered into a contract to perform the promise, or discharge the liability of borrower in case of his default. The Pledge Agreement is limited to pledge 40,160 shares as security. The corporate debtor has never promised to discharge the liability of borrower. The Facility Agreement under which the borrower was bound by the terms and conditions and containing his obligation to repay the loan security for performance are all contained in the Facility Agreement.A contract of guarantee contains a guarantee “to perform the promise or discharge the liability of third person in case of his default”. Thus, key words in Section 126 are contract “to perform the promise”, or “discharge the liability”, of a third person. Both the expressions”perform the promise” or “discharge the liability”relate to “a third person”. The Pledge Agreement dated 10.01.2012 does not contain any contract that the promise which was made by the borrower in the Facility Agreement dated 12.05.2011 to discharge the liability of debt of Rs.40 crores is undertaken by the corporate debtor. It was the borrower who had promised to repay the loan of Rs.40 crores in Facility Agreement dated 12.05.2011 and it was borrower who had undertaken to discharge the liability towards lender. The Pledge Agreement dated10.01.2012 does not contain any contract that corporate debtor has contracted to perform the promise, or discharge the liability of the third person. The Pledge Agreement is limited to pledge of40,160 shares of GEL only”.The Court observed that the appellant can at best be termed a “secured creditor”.”The present is also a case where only security was created by the corporate debtor in 40,160 shares of GEL, there was no liability to repay the loan taken by the borrower on the corporate debtor in the present case. At best the Pledge Agreement and Agreement of undertaking executed on10.01.2012, that is, subsequent to Facility Agreement, is security in favour of Lender-Assignor who at best will be secured creditor qua corporate debtor and not the financial creditor qua corporate debtor””This Court held that a person having only security interest over the assets of corporate debtor, even if falling within the description of ‘secured creditor’ by virtue of collateral security extended by the corporate debtor, would not be covered by the financial creditors as per definitions contained in sub-section (7) and (8) of Section 5.What has been held by this Court as noted above is fully attracted in the present case where corporate debtor has only extended a security by pledging 40,160 shares of GEL. The appellant at best will be secured debtor qua above security but shall not be a financial creditor within the meaning of Section 5sub-sections (7) and (8)”.Though the Court held that the appellant was not a ‘financial creditor’ under IBC, it clarified that it was entitled to seek other remedies available under law to enforce the pledge agreement.Case : Phoenix Arc Pvt Ltd v Ketulbhai Ramubhai PatelBench : Justices Ashok Bhushan, R Subhash Reddy and MR ShahCitation : LL 2021 SC 60Click here to read/download the judgmentSubscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Story
This study investigates if the descent of odd nitrogen, generated in the thermosphere and the upper mesosphere by energetic particle precipitation (EPP-NOx), has a detectable impact on stratospheric wind and temperature in late winter and spring presumably through the loss of ozone and reduction of absorption of solar UV. In both hemispheres, similar downward propagating geomagnetic signals in the extratropical stratosphere are found in spring for those years when no stratospheric sudden warming occurred in mid-winter. Anomalous easterly winds and warmer polar regions are found when the 4-month averaged winter Ap index (Ap) is high, and the signals become clearer when solar F10.7 is low. In May, significant geomagnetic signals are obtained in the Northern Hemisphere when the data are grouped according to the phase of the stratospheric equatorial QBO. The magnitudes of changes in spring stratospheric wind and temperatures associated with Ap signals are in the range of 10–20 m s−1 and 5–10 K, which are comparable with those of the 11-yr SC signals typically found in late winter. The spring Ap signals show the opposite sign to that expected due to in situ cooling effects caused by catalytic destruction of stratospheric ozone by descending EPP-NOx. Thus it is unlikely that the in situ chemical effect of descending EPP-NOx on stratospheric ozone would have a dominant influence on stratospheric circulation. Instead, we suggest that the detected Ap signals in the extratropical spring stratosphere may be an indirect consequence of geomagnetic and solar activity, dynamically induced by changes in wave ducting conditions.
Systematic strategies from applied mathematics for stochastic modelling in climate are reviewed here. One of the topics discussed is the stochastic modelling of mid-latitude low-frequency variability through a few teleconnection patterns, including the central role and physical mechanisms responsible for multiplicative noise. A new low-dimensional stochastic model is developed here, which mimics key features of atmospheric general circulation models, to test the fidelity of stochastic mode reduction procedures. The second topic discussed here is the systematic design of stochastic lattice models to capture irregular and highly intermittent features that are not resolved by a deterministic parametrization. A recent applied mathematics design principle for stochastic column modelling with intermittency is illustrated in an idealized setting for deep tropical convection; the practical effect of this stochastic model in both slowing down convectively coupled waves and increasing their fluctuations is presented here.