Corporate Assets
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*MBIA to have unsecured claims of $3.6 bln. May 23- Ally Financial Inc agreed to pay $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets. Creditors who objected to the original deal included ResCap's unsecured creditors, bond insurers such as MBIA Corp and Assured Guaranty Corp, and others.
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May 23- Ally Financial Inc agreed to contribute $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets, paving the way for ResCap to pay back its creditors.
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MOSCOW, May 22- Igor Kim snapped cast-off assets from foreign banks pulling out of Russia and now the banker says he wants to expand into Europe. Kim, 47, emerged with his partners as an asset consolidator after the global crash of 2008 forced Western banks to downsize, buying the Russian commercial banking units of Barclays, WestLB, Morgan Stanley and Santander.
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*Gold finds some relief as U.S. data hurts stocks, dollar. LONDON, May 16- Gold hit a four-week low on Thursday, declining for a sixth straight day for the first time in more than four years, as investors spooked by recent price falls favoured other assets.
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According to filings late Wednesday in Manhattan bankruptcy court, MSR Hotels& Resorts Inc. sought Chapter 11 protection from creditors to sell its remaining assets and wind down.
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*Dubai Group not expecting to sell assets in 2013. DUBAI, May 9- Dubai Group, an investment vehicle owned by the emirate's ruler, will become an independent company after its planned $10 billion debt restructuring, a top official said.
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*Dubai Group not expecting to sell assets in 2013. DUBAI, May 9- Dubai Group, an investment vehicle owned by the emirate's ruler, will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, a top official said.
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LONDON, May 07 Fitch Ratings has affirmed Aareal Bank's outstanding mortgage covered bonds at' AAA' with a Stable Outlook. The affirmation follows the conclusion of Fitch's periodic review of the credit risk of the cover pool and the cash flow mismatches between the programme's assets and liabilities.
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May 6- Ledgemont Capital Group LLC, a boutique investment bank, filed for Chapter 7 bankruptcy to liquidate its assets, which it estimated at between $10 million and $50 million, according to court documents.
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May 1- As mineworkers and retirees battle to salvage their pensions and benefits from the bankruptcy of Patriot Coal Corp, lawyers for their union are trying an unusual gambit- and one that may be a test case for workers' rights when companies spin off assets.
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*Beyond timing of QE3, debate over which assets to target. NEW YORK/ SAN FRANCISCO, May 1- Top Federal Reserve officials are happy with the boost their asset purchases are giving the housing market, suggesting mortgage bonds could trump Treasuries when the U.S. central bank tinkers with its bond-buying program.
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*Beyond timing of QE3, debate over which assets to target. NEW YORK/ SAN FRANCISCO, May 1- Top Federal Reserve officials are happy with the boost their asset purchases are giving the housing market, suggesting mortgage bonds could trump Treasuries when the U.S. central bank tinkers with its bond-buying program.
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April 30- Asset manager Legg Mason Inc on Tuesday said its profit fell sharply in the three months ended March 31, driven down by real estate losses. Assets under management rose to $664.6 billion at March 31, up from $648.9 billion at Dec. 31, driven mainly by the rising value of investments that added $12.1 billion.
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April 30- Asset manager Legg Mason Inc on Tuesday said its profit fell sharply in the three months ended March 31, driven down by real estate losses. Assets under management rose to $664.6 billion at March 31, up from $648.9 billion at Dec. 31, driven mainly by the rising value of investments that added $12.1 billion.
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MADRID, April 30- Spain's nationalised lender NCG Banco on Tuesday posted an 8- billion-euro loss for 2012 after booking provisions worth 8.2 billion euros to cover bad investments in real estate assets.
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SIENA, Italy, April 26- Italian prosecutors have frozen around 140 million euros of assets in Italy from a unit of Nomura Holdings as part of an ongoing legal dispute over a derivatives financing deal with Monte dei Paschi, a source close to the case said.
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TOKYO, April 26- Nomura Holdings Inc said on Friday that Italian prosecutors had effected an order freezing the assets of one of its units in relation to an ongoing legal dispute over a derivatives financing deal with Italian bank Monte Dei Paschi.
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TOKYO, April 26- Nomura Holdings Inc said on Friday that Italian prosecutors had effected an order freezing the assets of one of its units in relation to an ongoing legal dispute over a derivatives financing deal with Italian bank Monte Dei Paschi.
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TOKYO, April 26- Nomura Holdings said on Friday that Italian prosecutors had ordered a unit's assets in Italy frozen in relation to an ongoing legal dispute over a derivates financing deal with Italian bank Monte Dei Paschi.
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TOKYO, April 26- Nomura Holdings said on Friday that Italian prosecutors had ordered a unit's assets in Italy frozen in relation to an ongoing legal dispute over a derivates financing deal with Italian bank Monte Dei Paschi.