"Under a judicial receivership you're bringing in independent people to assess the agency," said Edwin Lowndes, the executive director of the Kansas City Housing Authority, which was placed in judicial receivership in 1993.
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Two months earlier, smaller lender Dubai Bank was put into receivership.
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"Everything was stayed during the receivership," said Zucker of the lawsuits.
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South Korean container line Hanjin, which filed for receivership on Aug.
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The examiners found that the bank might be put into receivership.
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The fate of the schools in receivership is still being sorted out.
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That spurred the shipping line to file for court receivership on August 31.
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It was placed in receivership in October 2015 for alleged links to Gulen.
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Baoshang Bank, a little-known bank in northern China, was put into receivership.
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Rick Snyder (R) to oversee the city while it is under state receivership.
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Hanjin Shipping Co of South Korea, for example, sought court receivership in August.
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The point of non-viability trigger for typical Taiwanese B3T2 notes is government receivership.
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Rival Hanjin Shipping Co Ltd of South Korea was forced into receivership in August.
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This forces the company into receivership before it has time to secure alternative financing.
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Hanjin's receivership has hit as the retailers were awaiting their shipments of Christmas goodies.
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The Education Department, which opposed the receivership, said it was reviewing its legal options.
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Hanjin on Wednesday filed for court receivership after creditor banks decided to end financial support.
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The Seoul Central District Court is presiding over the receivership filed by Hanjin last week.
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Hanjin Shipping filed for court receivership on Wednesday after losing the support of its banks.
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Documents entered at the receivership hearing show just how badly things went wrong for Talon.
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Szantner teamed up with fellow employees to purchase the firm's intellectual property out of receivership.
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Mr. de Blasio has vocally opposed receivership and has vowed to not let it happen.
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Under an ordinary administrative receivership, HUD would take over Nycha and manage the agency's affairs.
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AMCON said it had appointed a new team to manage Arik, supervised by a receivership manager.
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The following three years of receivership were supposed to yield a cleaner and more efficient government.
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It was placed in receivership in October 2015 for alleged links to Islamic cleric Fethullah Gulen.
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The arrival comes as creditors globally line up claims after the company applied for court receivership.
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Oregon has taken Zoom's insurance arm into receivership, and the company is dissolving its insurance operations.
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Harrisburg in 2011 filed for bankruptcy, but was put into receivership after the case was thrown out.
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CORRECTION Reuters has updated this report to reflect that Hanjin Shipping filed for receivership on August 31.
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But the moratorium came after it had placed privately-owned Imperial Bank under receivership in October 2015.
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Last week, Hanjin Shipping, South Korea's biggest container carrier and the world's seventh-largest, filed for receivership.
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Chase Bank Kenya Ltd went into receivership in April 2016 after failing to meet its financial obligations.
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It was the third mid-sized or small lender to be put into receivership in nine months.
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Loss-making Cauval, owner of the Treca, Simmons and Dunlopillo brands, was placed into receivership in February.
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The state put the district into receivership and extended a $100 million loan just to cover payroll.
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Mr. de Blasio had vowed in the past not to let the Housing Authority fall into receivership.
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However, this week, he said that although he prefers the city retain control, receivership is an option.
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In 1995, Cousins bought East Lake Golf Club out of receivership and established the East Lake Foundation.
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Last month, South Korea-based Hanjin filed for court receivership with roughly 6 trillion won in debt.
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After months of fruitless negotiations, the Export-Import Bank of China put the resort into receivership in November.
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Hanjin Shipping, the world's seventh biggest container line, filed for court receivership in August, and its Asia-U.
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Chase Bank Kenya's managing director and chairman resigned on Wednesday, a day before it was put under receivership.
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GM Korea had said it would likely file for court receivership if the deadline passes without a deal.
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The municipal governments could be decertified or fall under receivership, and the shared police force could be disbanded.
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In late August, Hanjin Shipping, South Korea's biggest container line and the world's seventh-largest, filed for receivership.
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The world's seventh-largest container shipper filed for court receivership in Seoul on Wednesday after banks withdrew support.
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S. operations, beating Hyundai Merchant Marine, a spokesman for a Seoul court overseeing Hanjin Shipping's receivership told Reuters.
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Hanjin applied for court receivership in late August after banks denied further financial support for the troubled shipper.
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In September 2017, it was purchased out of receivership by a pair of companies that specialized in liquidations.
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"By placing Anbang under receivership, China's regulators acted [in] a relatively transparent and investor-friendly way," Hirson said.
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Higgs took receivership of the home about two years ago to prevent it from being demolished, he said.
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KS court receivership process and expects to declare bankruptcy on February 17 after a two-week period for appeals.
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Michigan Treasurer Nick Khouri dissolved Hamtramck's Receivership Transition Advisory Board, giving city officials full control of operations and finances.
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It picked up two Puerto Rican banks that had gone into receivership: Westernbank in 2010 and Doral in 2015.
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In late August, the shipping line was forced to file for court receivership after banks stopped providing financial support.
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ACLU lawyers had asked for Davis to be held in contempt and her office to be put in receivership.
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"Receivership was completely taken off the table in a meeting that was very productive and constructive," the NCC added.
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Chase's receivership followed that of another mid-sized lender, Imperial Bank, and of a smaller one, Dubai Bank Kenya.
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For Pontiac, where state intervention began in 2008, a receivership transition advisory board in place since 2013 was dissolved.
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It said the lawsuit was timely because it had three years from the start of the receivership to sue.
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The paper company filed for receivership, and all 600 workers were told that they were out of a job.
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Public housing systems in other major cities — including Boston, Chicago, Philadelphia and New Orleans — have been placed in receivership.
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"We don't want to be put into receivership and have someone come in and oversee the system," he said.
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Rogers told CNN that House is trying pay the remaining back taxes to bring the home out of receivership.
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The FDIC can adjudicate claims quickly under this receivership, including putting a hold on derivatives and other complicated financial instruments.
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B310T203 bonds in Taiwan would hit the point of non-viability (PONV) only when the issuing entity enters government receivership.
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Shares of troubled container shipper Hanjin Shipping remained halted on Friday, after the company filed for court receivership on Wednesday.
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Tongyeong, based south of Seoul, is the home of mid-sized shipyard Sungdong Shipbuilding & Marine which is entering court receivership.
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But when the deal ultimately failed to materialize, Keangnam entered into court receivership in South Korea, according to court papers.
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Receivership is a last resort that allows the federal government to take control of public housing authorities in dire straits.
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It comes weeks after the country's largest airline, Arik Air, went into receivership due to its inability to pay workers.
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Art Héritage France, the parent company of the Pinacothèque de Paris — one of France's few private museums — went into receivership.
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Liquidation preference determines which creditors are paid out first if your company ends up in financial difficulties and goes into receivership.
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Nigerian regulators have agreed with local banks to pursue a default deal rather than receivership to avoid a wider debt crisis.
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Hanjin Shipping, also South Korea's largest shipping company, had filed for court receivership last Wednesday after its creditors pulled funding support.
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Njoroge declined to say if it would meet its self-imposed deadline of resolving receivership by the end of this quarter.
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Linc Energy is in receivership, a company spokeswoman said, adding she could not answer questions about the company's political donations policy.
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Regulators placed the mid-sized Chase Bank under receivership in April 2016 after an unexplained loss of billions of Kenyan shillings.
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For as long as I can remember, you had various city agencies under judicial or federal or state oversight or receivership.
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Mr. Dottore defended his work, saying his receivership had eased the transition for some students trying to complete their degrees elsewhere.
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If no agreement is reached, Mr. Carson threatened to declare Nycha in "substantial default," which effectively paves the way for receivership.
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Under a judicial receivership, a judge would appoint a receiver to take over and they would report directly to the judge.
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The secretary of the Treasury, in consultation with the president, must then determine if the company should be placed into receivership.
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They forced PREPA into a private receivership by naming a "restructuring officer" that instituted draconian cuts to the ailing public utility.
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Things got worse for Vicis Monday, when the company announced it was going into receivership as it searches for a buyer.
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"Going into receivership, they can be very tough in their renegotiation, and more realistic," said Steve Allen, managing director of Essence Media.
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Hanjin, the world's seventh largest container line, filed for receivership last month, leaving more than 100 ships and their cargo at sea.
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Troubled container shipper Hanjin Shipping on Wednesday filed for court receivership after creditor banks decided to end financial support, according to Reuters.
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Hanjin filed for court receivership on Wednesday after its creditor banks decided to end financial support for South Korea's top container shipper.
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The nursing home had been part of a chain that switched hands and foundered financially, ultimately ending up in court-appointed receivership.
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"We would particularly like to thank the Dick Smith employees for their support and patience during the receivership process," receiver James Stewart said.
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Freight rates in Hanjin-operated routes jumped and manufacturers are scrambling for limited alternatives after Hanjin Shipping filed for court receivership on Wednesday.
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After the bonds defaulted, the city was forced into the state's first and only municipal receivership - paid for by state and local taxpayers.
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Social network Viadeo said it was placed into receivership by the Paris commercial court on Nov 29 for a period of three months.
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Hanjin Shipping, which applied for court receivership in late August, is due to submit a rehabilitation plan to a Seoul court in December.
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Woes for world's seventh-largest container shipper have only deepened since its banks withdrew support and it filed for court receivership this week.
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Before Mnuchin rescued the bank from federal receivership and rebranded it OneWest, IndyMac held $28500 billion in assets and had 6900 retail branches.
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Indeed, one person briefed on the negotiations, who preferred to remain anonymous, said HUD was not actually interested in seeing receivership take hold.
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The downgrade came a day after Reuters reported that Hontop Energy Pte Ltd, Wanda's Singapore-based oil trading unit, has gone into receivership.
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Mwilu was arrested in August on suspicion of corruption, failure to pay tax and improper dealings with a local bank now in receivership.
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Receivership means the 1,380 oil wells belonging to Lexin could join the more than 1,500 others in Alberta that do not have legal owners.
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From 2011 to 2015, Flint was in state receivership, its finances controlled by a succession of four emergency managers appointed by Mr. Snyder's administration.
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On more than one occasion, I witnessed such excesses, only to see the offending lender wind up in receivership a mere few months later.
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Paying the federal government back, as opposed to claims or other expenses, tends to be a low priority for a co-op in receivership.
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However, Fitch will downgrade the IDR to 'D' if the company enters into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedures.
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Trump is already popular with many residents, who credit him with securing their livelihoods when he bought the resort out of receivership in 2014.
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J.H.S. 162 was one of a small number of schools across the state identified as "persistently struggling" last year under a state receivership law.
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As Judge Fusté's opinion has gained attention, rumors have swirled on the island about a possible receivership for the bank, or other drastic steps.
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Receivership is a type of corporate bankruptcy in which a trustee or receiver is appointed by bankruptcy courts or creditors to run the company.
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As a former federal education official with experience in Detroit and Washington, Ms. Keleher said, the concept of receivership is not foreign to her.
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Regulators stepped in last month to save Etisalat Nigeria from collapse and prevent lenders placing it in receivership, prompting a board, management and name change.
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The Pinacotheque, which has been under court receivership for three months, said that like all Paris museums it had suffered a dramatic drop in attendance.
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Hanjin, which was the world's seventh-largest container shipper when it filed for receivership on August 31, has also put assets from its Asia-U.
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Banks stopped providing financial support to Hanjin, which had been bleeding red ink, in late August, prompting the shipping line to file for court receivership.
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Hanjin Shipping, which had been the world's seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support.
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The hospitality giant Keystone Group, which owns eight bars in Sydney and numerous more venues across the country, has announced it has gone into receivership.
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At that point it would be unable to weather quarterly losses and would need to draw on Treasury funds to avoid being placed into receivership.
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That effort ended when Hanjin sought court receivership after lead creditor Korea Development Bank halted support, Hanjin Shipping executive Kim Hyun-seok said last week.
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Following the company's receivership, clients such as LG Electronics canceled orders with Hanjin and sought emergency alternatives to ship their freight, Reuters reported at the time.
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The U.S. oil company is the frontrunner to buy JAC which went into receivership in September 2015, Thomson Reuters publication Project Finance International reported on Tuesday.
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It also creates a receivership for the Government Development Bank and carves off a "bridge bank" that would continue to honor certain claims during the moratorium.
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The mid-sized lender is under receivership and was temporarily closed in April 2016 by the regulator after an unexplained loss of billions of Kenyan shillings.
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Colonial, based in Montgomery, Alabama, went into FDIC receivership in August 2009 after struggling from losses tied to mortgage securities and an aggressive foray into Florida.
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And I still believe that Obama could and should have taken a couple of big banks into temporary receivership as the price of being bailed out.
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The Pinacothèque de Paris will close its spaces on the Place de la Madeleine after its parent company, Art Héritage France, went into receivership last year.
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When placed in receivership, housing agencies are managed by a receiver: a person, a team of HUD officials or an entity, like a private consulting firm.
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Under that version, transfer schools that failed to get off the comprehensive support and improvement list after three years would have automatically been put into receivership.
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There are a number of intermediate steps Calabria could take to lighten Fannie and Freddie's footprint without risking the market chaos of moving them into receivership.
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With the South Korean shipper in receivership, it is unclear if shippers would recoup any added costs they pay out of pocket to retrieve their goods.
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The Burke Mountain resort has been in government-appointed receivership since 2016, when the Securities and Exchange Commission took control of it following a fraud investigation.
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It also takes away the central bank's ability to deal with "reckless lending", limits its power to issue prudential guidelines and place banks under receivership, he said.
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On Thursday, Ferrier Hodgson, the company that has been managing Dick Smith's receivership process, announced in a statement (PDF) that no acceptable offers of purchase had emerged.
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Wider notching than Fitch's base case of one notch reflects the poor recovery prospects for Taiwanese BIIIT2 debt at the point of non-viability or government receivership.
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The company was recently placed in receivership and stripped of its access to federal Title IV higher education funding after it was found to be financially derelict.
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The company said it is preparing to acquire some assets and liabilities of Chase Bank (Kenya), which is in receivership, subject to shareholder, regulatory and other approvals.
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Because Dodd-Frank effectively prevents the government from providing open-market assistance to failing firms, the Federal Deposit Insurance Corporation would likely place the bank in receivership.
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Wider notching than Fitch's base case of one notch reflects the poor recovery prospects for Taiwanese B3T2 debt at the point of non-viability or government receivership.
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The court overseeing Hanjin Shipping's receivership said the five container ships up for sale each had a cargo capacity of about 6,500 twenty-foot equivalent units (TEUs).
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His ancient enmities are now fresher than ever because of the island's catastrophic $72 billion debt, which has placed Puerto Rico into what amounts to federal receivership.
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Hanjin Shipping, the world's seventh-largest container carrier, filed for receivership late last month in a South Korean court and must submit a rehabilitation plan in December.
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On Tuesday, an Ontario court placed the Trump International Hotel and Tower into receivership after the owners failed to make debt payments for more than a year.
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Supporters of a takeover point to a 2003 report from the Government Accountability Office which found that, in general, housing authorities placed in receivership showed marked improvements.
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Last month, a federal judge in Ohio placed Argosy and several other Dream Center campuses under federal receivership, appointing an outside official to handle the chain's finances.
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In an emergency, AIG would liquidate non-insurance units under Chapter 11 of the bankruptcy code and place its life insurance business in state receivership, the plan showed.
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That spurred the shipping line to file for court receivership this week, a process that'll mean the judicial system will decide whether Hanjin will remain a going concern.
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SEOUL, Aug 31 (Reuters) - South Korea's Hanjin Shipping Co Ltd has decided to file for court receivership, wire service Yonhap reported on Wednesday, citing unidentified shipping industry sources.
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This week Hanjin said its European routes services had completed stopped and a Seoul court overseeing its receivership process has approved winding down four of its European units.
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Racine's office has the power to bring court actions to dissolve or place in receivership a nonprofit corporation that misuses funds or acts contrary to its nonprofit purposes.
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At the point of non-viability, which is reached upon government receivership, the bonds would rank equally with common shares under the regulatory order for resolution or liquidation.
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If a school could not get off the list within three years, it could be moved into the state's receivership program, which could eventually lead it to close.
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In 2011, facing what Michel Berrier, an owner, called "catastrophic losses," Desseilles went into receivership to shed nine of its remaining 74 workers in a bid to survive.
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NAIROBI, Sept 24 (Reuters) - Kenya's loss-making Mumias Sugar Company has been placed under receivership to protect its assets and maintain its operations, KCB Group said on Tuesday.
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The Central Bank of Kenya has been seeking a strategic investor for Chase, which has been in receivership since April 2016 after failing to meet its financial obligations.
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The city of Detroit had been placed under state receivership, and in Michigan that means that one person gets to take over all decisions for all elected officials.
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Vornado acquired its office stake in 2011 when it helped recapitalize the tower with $70 million after the debt entered receivership, a sign of Kushner difficulties financing the building.
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The downside is that making money for ocean-based shippers is a long reach, and in the case of South Korea's Hanjin Shipping Co., filed for receivership in August.
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In our view this raises systemic risk at a time when the sector has come under increased scrutiny following three banks being put in receivership by the central bank.
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Hanjin's receivership filing has prompted ports around the world to block access or refuse service to dozens of the company's ships on fears they won't be paid, stranding cargo.
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The central bank then intervened to stop creditors from putting it into receivership, leading to a change in its board and management, as well as its new company name.
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The deals will help the distressed city, which is under state oversight, make progress on its recovery plan and "take away any fear of receivership or bankruptcy," he said.
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After the residents organized an eight-month rent strike against their new landlord, the complex was placed into a receivership and the investment firm ceded control to the tenants.
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Schools with that label are part of a receivership program under which they could be taken over by outside entities, like nonprofit groups, if they did not show improvement.
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The duration of a receivership usually depends on the complexities of the problems and the size of the housing authority, but most tend to last five to nine years.
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The Central Bank of Kenya (CBK) has been seeking a strategic investor for Chase, which has been under receivership since April 2016 after failing to meet its financial obligations.
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Nineteen states (including Massachusetts) are being sued for their systems' failure to protect children; Mississippi's Division of Family and Children's Services is struggling to avoid being put into receivership.
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Korea Post halted all packages through the shipper after it filed for receivership, including those heading to the U.S., Germany, Australia, Canada, Hong Kong, China, Taiwan and 14 other countries.
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The NCC had stepped in to avoid a receivership, which it worries could deter investors to the telecoms sector, while the central bank wants to avoid a wider debt crisis.
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"Carven is in default on payments and will on Wednesday be asking to be placed under bankruptcy protection of the Paris commercial court via receivership procedures," a Carven spokesman said.
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The company began shuttering facilities in the Midwest in January after it chose not to service more than US$13.5m in debt owed at the time it filed for receivership.
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Deputy Chief Justice Philomena Mwilu was arrested last August on suspicion of corruption, failure to pay tax and improper dealings with a local bank that was later placed in receivership.
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Central Bank of Kenya Governor Patrick Njoroge told a news conference he had received nine indications of interest in the mid-sized lender that was put into receivership this month.
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An attorney for Janvey, Kevin Sadler, said the receivership has recovered about $200 million more since that report, including about $63 million in a settlement with Stanford's former law firm.
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There are also two watered-down versions of an administrative receivership in which HUD and Nycha would enter into a cooperative or court-approved agreement and work together as partners.
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In California, most prisons are under medical receivership, which means that the federal government has deemed them incapable of providing adequate medical care to their inmates and has assumed oversight.
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And demonstrating that he would not be caught unprepared, Mr. Neal lashed back at Mr. Morse, noting that the Holyoke schools had been placed in state receivership on his watch.
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And demonstrating that he would not be caught unprepared, Mr. Neal lashed back at Mr. Morse, noting that the Holyoke schools had been placed in state receivership on his watch.
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Nigerian regulators stepped in last month to save Etisalat Nigeria from collapse and prevent lenders placing the country's fourth biggest telecoms group into receivership, prompting a board, management and name change.
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Detroit's schools had already fallen into receivership once, in 1999, amid low enrollment and poor graduation rates, but the following six years of state control failed to manage away these problems.
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During the quarter, South Korea saw a massive workers' strike at Hyundai Motor, as well as the collapse of container shipper Hanjin Shipping, which filed for court receivership on August 31.
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It came out of receivership in 2014, but allegations about its past were aired last autumn and led some farmers to threaten to leave their harvests on the bushes in protest.
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SEOUL (Reuters) - South Korea's LG Electronics Inc said on Thursday it is cancelling orders with Hanjin Shipping Co Ltd and seeking alternatives after the troubled container shipper filed for court receivership.
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When the Education Department updated its list of priority schools for the federal government this year, nine persistently failing schools no longer qualified, so they were removed from the receivership program.
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But when they went to the doctor, they found out all of a sudden that their insurance company, their perceived insurance company, was in receivership and that they had no coverage.
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In general, schools that fail to get off the comprehensive support and improvement list after three years would be put into the state's receivership program, which might lead them to close.
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Regulators have said they want to protect Etisalat Nigeria's 4,000 workers and are seeking to prevent lenders placing the telecoms firm in receivership in order to avoid a wider debt crisis.
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The company's struggles reflect the overall downturn in the shipping market, with South Korea's Hanjin Shipping Co Ltd last month filing for court receivership after losing the support of its banks.
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On February 12, 2016, she says Weaver unilaterally fired her, even though her contract stated any termination required "mutual agreement between the Mayor and city council" or the receivership transition advisory board.
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A source with direct knowledge of the matter said no receiver had been appointed because Canadian Western Bank is concerned the receivership process would not be worth the cost to the bank.
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AX said two local media magnates had declined to extend their support for a $150 million debt guarantee past 13 - a move that increases the risk of the troubled broadcaster seeking receivership.
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According to testimony submitted to the foundation authorities in Bern by a former Monetas employee, the company had been on the verge of receivership since the previous spring, before the Tezos ICO.
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Under Fitch's rating definitions, 'D' ratings indicate that, in Fitch's opinion, an issuer has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure or has otherwise ceased business.
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If the Justice Department prevails and is able to prove the FLDS church and its rogue prophet corrupted the city governments in Short Creek, they could be decertified and placed into receivership.
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The law also establishes a new framework for putting the development bank into receivership, and creating a "bridge bank" that would take over some of its deposits and obligations during the moratorium.
|
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Nigerian regulators intervened last week to save Etisalat Nigeria, the country's fourth-largest mobile operator, from collapse and prevent lenders placing the telecoms firm in receivership, prompting a board and management change.
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Two people familiar with the matter told Reuters on Tuesday that Hanjin's creditor banks had decided to stop supporting the firm, increasing the likelihood of court receivership for South Korea's top shipper.
|
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The Central Bank of Kenya (CBK) ordered the privately owned bank to be put into receivership in October 2015 after the board of the mid-sized lender alerted it to suspected malpractices.
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The Imperial Bank receivership rattled confidence in a financial sector where more than 40 foreign and local banks operate - especially as it came just two months after the liquidation of a smaller bank.
|
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NIC was appointed by state receiver Kenya Deposit Insurance Corporation (KDIC) last week to assess the liabilities and assets of Imperial Bank, which was put into receivership last October after fraud was uncovered.
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SEOUL, Sept 1 (Reuters) - South Korea's LG Electronics Inc said on Thursday it is cancelling orders with Hanjin Shipping Co Ltd and seeking alternatives after the troubled container shipper filed for court receivership.
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Nigerian regulators agreed with local banks in March to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.
|
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Low freight rates and oversupply have rocked the container shipping sector, with South Korea's Hanjin Shipping Co Ltd forced into receivership last month, stranding an estimated $260 billion in cargo on its ships.
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Nonetheless, the city took the unusual step of asking a judge to place Childrens Community Services under receivership, seeking to take over the nonprofit's operations of 28 shelters, including 25 in commercial hotels.
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Unlike a receivership, in which a company's assets are sold and its operations wound down, the conservatorship was supposed to be a temporary solution until Fannie and Freddie got back on their feet.
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Since filing for court receivership on August 31, the world's seventh-largest container carrier has caused chaos for many retailers at a time when they are getting goods for the holiday shopping season.
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Nigerian regulators in March agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.
|
|
By the turn of the century, Flint's tax base was decimated and the city was suffering huge budget deficits, so the state of Michigan placed Flint in financial receivership between 2002 to 2004.
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Venture-backed startup Zoom said earlier in April it is exiting the entire health insurance market, and now it's officially entering voluntary receivership with the state of Oregon, spokesman Len Bergstein confirmed to Axios.
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Hanjin Shipping's market share stands at 2.9 percent of total container capacity, but the shipper's recent filing for court receivership is putting global commerce in a tight spot ahead of the key holiday season.
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Hanjin, which filed for court receivership on August 31, was no minor industry player; industry data provider Alphaliner placed Hanjin at the seventh largest globally, with 98 ships and a 143 percent market share.
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The announcement followed Garcia Padilla signing a law this week authorizing him to take steps to avoid receivership at the GDB, the U.S. territory's primary fiscal agent, and prevent a run on the bank.
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KS filed for court receivership on Wednesday after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels.
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On August 31st Hanjin Shipping, South Korea's biggest container carrier and the seventh-largest in the world, filed for receivership, after five years of losses and another deficit in the first half of 2016.
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Hanjin filed for court receivership on August 31, leaving its ships stalled around the world while carrying an estimated $14 billion worth of stranded cargo, much of it Christmas goodies headed for retailers' shelves.
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Roh was presented with this fact and asked whether he was conflating a separate receivership order, from which all the 22013 companies were removed in 238, four years after being added to the order.
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NAIROBI, April 15 (Reuters) - Kenya's central bank is evaluating about five indications of interest from investors in Chase Bank, a mid-sized lender which was put in receivership last week, the governor said on Friday.
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On Tuesday, Njoroge said there was interest from both foreign and local investors but did not elaborate apart from saying that they were looking at all possible ways of bringing Chase Bank out of receivership.
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The receivership and suspension came after the AER said Lexin failed to comply with multiple orders, lacked enough staff to manage its more than 1,600 sites and owed more than C$70 million ($52.43 million).
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Bondholders risk significant loss at the point of non-viability, which is reached upon government receivership or a regulatory order for resolution or liquidation, because the bonds would rank equally with common shares in Taiwan.
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SEOUL, May 25 (Reuters) - Unlisted South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead creditor Korea Development Bank said on Wednesday.
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U.S. Bankruptcy Judge John Sherwood approved a motion by the world's seventh largest container carrier that sought to extend to the United States the protection from creditors that it has under receivership in South Korea.
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He began buying FLDS properties at auction, at a deep discount negotiated with the United Effort Plan, the trust that oversees church holdings in Short Creek; the UEP has been in state receivership since 2006.
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Earlier this spring, a 107-year-old plant that made steel for the auto industry closed permanently after going into receivership and another steel maker said it was moving its Hamilton operation to Solon, Ohio.
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If he remains in office for an extended period in this weakened state, it's possible that Congress and the courts will essentially put the presidency into a kind of constitutional receivership until his term ends.
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When the government put them into receivership, the idea was to run down Fannie's and Freddie's debt and develop a healthy and growing mortgage market free of the implicit government backing that they had enjoyed.
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Fears over the health of Kenya's banking sector have grown since the central bank put Chase Bank Kenya into receivership last week, the third lender to be taken over by the central bank in nine months.
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The Fairfax family lost control of its newspaper empire 28 years ago, after a bid by Warwick Fairfax, a descendant of its founder, to privatise the company saddled it with debt and sent it into receivership.
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AMCON said on Thursday a receivership manager had been put in charge of Arik as the airline had been fallen into a "precarious situation largely attributable to its heavy financial debt burden (and) bad corporate governance".
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He also wants the state and city comptrollers to audit homeless shelters in New York, Buffalo and other cities, and failing shelter systems to be put into state receivership if local officials fail to fix them.
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South Korea's Hanjin Shipping Co Ltd filed for court receivership at the end of August, which set the stage for its assets to be frozen as ports from China to Spain denied access to its vessels.
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Three banks have been placed into receivership in less than a year by Patrick Njoroge, the respected governor of the Central Bank of Kenya, as a series of ruinous insider-lending scams have come to light.
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Hanjin, the world's seventh-largest container line, filed for receivership last month, leaving more than 100 ships and their cargo at sea and threatening to snarl U.S. freight traffic as the year-end shopping season approaches.
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SYDNEY, Jan 12 (Reuters) - Dick Smith chief executive Nick Abboud has resigned a week after the failed Australian electronics retailer went into receivership with debt of A$390 million ($272.61 million), its receivers said on Tuesday.
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The French government - which has been helping XL Airways try to find new investors - said in a statement that the airline had stopped payments on Thursday evening and that it would go into receivership on Friday.
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KDB, which is also HMM's lead creditor, would be willing to back HMM's acquisition of Hanjin assets if it makes business sense and depending on the outcome of the receivership process, a KDB official told Reuters.
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Soon after the receivership began, the Education Department began hearing complaints that Argosy had failed to make payments owed to students, according to a letter the agency sent on Wednesday to Dream Center and its receiver.
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The suit claims that the switch was made without the approval of Flint's city council or of the receivership transition advisory board, which was set up to help the city transition from being under state financial control.
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It starts with the Panic of 1893, which drove unemployment over 10 percent for a half-decade, and ushered in a period marked by failing banks, railroads going into receivership and often violent coal and rail strikes.
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PPB Advisory, Ten's newly appointed receivership specialist, said the deal would allow the firm, the lowest rating of Australia's three national free-to-air broadcasters, to continue as a "going concern" until it is sold or recapitalized.
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The world's seventh-largest container shipper sought court receivership in late August after its creditors led by a South Korean state bank halted further support, stranding $14 billion in cargo and sending waves through global trade networks.
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An oversupply of vessels has weighed on shipping rates, prompting top-ranked A.P. Moller-Maersk to restructure and forcing South Korea's Hanjin Shipping Co Ltd into receivership, stranding an estimated $14 billion in cargo on its ships.
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KCB is in the process of finalizing the takeover of certain assets belonging to Imperial Bank, which was placed in receivership in October 2015 after the board of the privately owned bank alerted authorities to suspected malpractices.
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Loss-making Cauval, owner of the Treca, Simmons and Dunlopillo brands, was placed into receivership in February and a court in Meaux, east of Paris, will review competing bids from Steinhoff and other companies on May 17.
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COPENHAGEN, Oct 26 (Reuters) - Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday.
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Survivors and victims' families filed civil suits and, once the railroad (whose slogan was "Be Careful, Safety Always") emerged from receivership, in 1923 a successor company (the Brooklyn-Manhattan Transit Co.) paid out $1.6 million in claims.
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Mr. Hanley's predecessor as international president, Warren S. George, failed to place Local 1181 in receivership in 2005 after its president, Salvatore Battaglia, was charged in a racketeering conspiracy indictment linking him to the Genovese crime family.
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Nigeria's central bank and telecoms regulator on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.
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LAGOS, Feb 9 (Reuters) - Nigeria's Arik Air is in receivership due to its inability to pay workers and creditors, prompting the government to take control of the country's biggest airline, state-owned "bad bank" AMCON said on Thursday.
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"The district court and receiver lacked authority to dispossess claimants of their legal rights to share in receivership assets for the sake of the greater good," Circuit Judge Edith Jones wrote for the New Orleans-based appeals court.
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The funding, however, is seen as falling far short of what the world's seventh-largest container carrier needs after filing for court receivership last week when its creditors, led by Korea Development Bank (KDB), decided to halt support.
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Accounting for additional costs such as charter fees and fuel costs incurred since the court receivership began, Hanjin now estimates cargo unloading costs could reach about 270 billion won, a Seoul Central District Court judge said on Thursday.
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KS parent firm plans to raise 21 billion won ($141.6100 million) to fund the unloading of billions of dollars worth of cargo aboard vessels stranded around the world in the wake of its court receivership filing last week.
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ABUJA, March 11 (Reuters) - Nigeria's financial and telecoms regulator said it agreed on Friday with local banks to end the prospect of receivership for mobile operator Etisalat Nigeria, which has missed a payment on a $1.2 billion loan.
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In response to concerns expressed by city officials and advocates for transfer schools, the state modified the plan so that transfer schools will not automatically be put into receivership if they are on the list for three years.
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NAIROBI, June 23 (Reuters) - Kenya's central bank said on Friday it planned to extend the receivership of Imperial Bank by a year to help finalise a deal with a strategic investor to take a stake in the bank.
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NAIROBI (Reuters) - Kenya's deputy chief justice Philomena Mwilu was arrested on Tuesday on suspicion of corruption, failure to pay tax, and improper dealings with a local bank now in receivership, the police and the country's top prosecutor said.
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On Sunday, the bank said it would offer liquidity support to any lender starved of funding after a third commercial bank was put into receivership in nine months, rattling depositors who rushed to withdraw cash from small banks.
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However, the Greece carries only a fraction of the $14 billion in goods on dozens of ships owned or leased by the world's seventh-largest container carrier, which filed for receivership in a Seoul court on Sept. 4.
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Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms refused to work for Hanjin, the world's seventh-largest container carrier, which filed for receivership in a Seoul court Sept. 4.
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Around $2100 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for Hanjin, which filed for receivership in a Seoul court on Aug 31.
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Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refused to work for Hanjin, which filed for receivership in a Seoul court on August 31.
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In both cases, the court held that a federal law passed in 1989 after the savings and loan crisis extended the time period that the FDIC could sue on behalf of two failed banks that it took into receivership.
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Njoroge also said a binding offer from State Bank of Mauritius is expected in a matter of days to weeks for assets carved out of Chase Bank Kenya, which is in receivership, with the transaction ending by Jan. 1.
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Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms refuse to work for Hanjin, the world's seventh-largest container carrier, which filed for receivership in a Seoul court last week.
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"Central Bank of Kenya and Kenya Deposit Insurance Corporation announces that they have received a non-binding offer from SBM Holdings Limited with respect to Chase Bank (Kenya) Limited (In Receivership) (CBLR)," the central bank said in a statement.
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Andrew M. Cuomo's director of state operations, said that the Education Department had erred in removing the schools from the program, because they met the criteria for being designated priority schools when the receivership program was created last year.
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Around $214.6 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for Hanjin, which filed for receivership in a Seoul court on Aug 22019.
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The announcement came during the tenure of the Trump administration, but HUD officials had been scrutinizing McBride and Elmwood since before February 2016, when they placed the fiscally drained county housing authority in receivership and took control of operations.
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South Korea's Hanjin Shipping Co Ltd filed for court receivership in August after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels.
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The central bank gave no reason for the suspension of licensing, but it came after it had placed Imperial Bank under receivership in October 2015, following the board of the privately owned mid-sized lender alerting it to suspected malpractices.
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A spokesman for the Seoul court overseeing STX Offshore's receivership had said in November that four parties had expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France.
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NAIROBI (Reuters) - Kenyan police ordered the arrests of eight bank executives on Friday, a day after the latest in a series of troubled banks was put into receivership, but the country's finance minister insisted the financial system was "very sound".
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The Sekye Ilbo newspaper, citing an official familiar with the matter, said that the Korea Development Bank (KDB), one of Kumho Tire's creditors, may seek a prepackaged restructuring plan, which would allow Kumho to enter into receivership administered by a court.
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"At this current point in time, we are not sure whether Hanjin Shipping will continue to operate under court-receivership or file for bankruptcy and assets will be liquidated," wrote Daniel Yoo, global strategist at Kiwoom Securities, in a Friday note.
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SEOUL, Aug 30 (Reuters) - Creditor banks of Hanjin Shipping Co Ltd have decided to stop supporting the South Korean shipper, news agency Yonhap reported on Tuesday, increasing the likelihood of court receivership, two people at the creditor banks told Reuters.
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A Korea Development Bank spokesman said the firm's creditors will decide on how to proceed with the court receivership process by the end of the month, as the company lacks sufficient funds to meet its financial obligations at end-May.
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In a regulatory filing the company said a Seoul court overseeing its receivership process approved a public auction of the major businesses, and it is to get binding bids from interested parties by November 7, after a due diligence process.
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NAIROBI, April 8 (Reuters) - Kenya's central bank governor promised on Friday to crack down on rogue bankers who put deposits at risk, a warning arising in part from the decision to place mid-tier lender Chase Bank Ltd under receivership.
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SEOUL, Sept 21 (Reuters) - The South Korean court overseeing Hanjin Shipping's receivership said a rehabilitation plan is "realistically impossible" if top priority debt such as backlogged charter fees exceed 1 trillion won ($896 million), South Korea's Yonhap newswire reported on Wednesday.
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SEOUL (Reuters) - Four parties have expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France SA, a spokesman for the Seoul court overseeing STX Offshore's receivership said on Friday.
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CEO Jung said he expected Daewoo to receive considerable calls from shipowners for "builder's default", cancelling existing orders, if the company goes into court receivership - the regulator's alternate plan for the troubled firm in case the bailout does not go through.
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Under a deal announced Tuesday, the new owner of the 65-story Trump International Hotel and Tower, which fell into receivership last year and became the scene of occasional anti-Trump protests, will erase the president's name from the building.
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He said Mwilu had also obtained "execution of a security belonging to Imperial Bank, now under receivership, by false pretence" and had "conducted herself in total disregard of the law", citing what he said was her failure to pay tax.
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Since the world's seventh-largest container carrier filed for court receivership in late August, the government has sought to limit the impact on the export-dependent economy and Hanjin customers but is otherwise leaving the company to fend for itself.
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LAGOS, Feb 11 (Reuters) - The founder of Nigeria's largest airline Arik Air, placed in receivership earlier this week, accused the government of seizing Arik to meet a political goal of creating a "national carrier" and said he would challenge the move in court.
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In March, the central bank, which is also the banking watchdog, and the Nigeria Communications Commission (NCC)regulator tried to prevent lenders placing the firm in receivership to avoid a wider debt crisis and agreed with banks to pursue a default deal.
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While this troubled bank is in receivership, government officials could come to realize (as the government-sponsored enterprises did during the crisis) that as many as 25 percent of the mortgages guaranteed by the troubled bank did not meet the appropriate underwriting standards.
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"If GDB were to be placed in receivership or if its liquidity falls below a level necessary to operate, ... the commonwealth and its instrumentalities may have limited access to their funds," possibly affecting "the provision of essential government services," the report said.
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SYDNEY (Reuters) - Australian potato farmer Tom Fox says he had never missed a bank payment in two decades before a delay sending a shipment to Indonesia during a trade dispute between the countries prompted his lender to force him into receivership in 2013.
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"TURN is renewing our call for the judge in PG&E's criminal case to put the company in receivership, and to ban PG&E from lobbying and making political contributions," Mark Toney, TURN's executive director, said in a statement before the Friday hearing.
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Calabria, who could not immediately be reached for comment, is a known quantity and has seldom been shy with his opinions about Fannie and Freddie: In 2016 he urged the FHFA to put the companies into receivership without waiting for action from Congress.
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"What pains me the most is that due to the court receivership many ship crews are in the middle of international waters like orphans, and I am very sorry and pained to have created a logistics crisis, but we did everything we could," he said.
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RATING SENSITIVITIES Developments that May, Individually or Collectively, Lead to Negative Rating Action -in Fitch's opinion, GATE enters into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedures, or otherwise ceases business, under which circumstances the ratings would be downgraded to 'D'.
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Backlogged charter fees that occurred after Hanjin Shipping's court receivership began on Aug 31 have topped 40 billion won, while cargo owners' claims for damages are expected to begin in earnest after 3-4 weeks have passed from original delivery schedules, the report said.
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Shrewdly, the Eastmans understood the judge's prejudices; they raised, somewhat unfairly, an unrelated tax suit that Klein was involved in in America, and in general painted such an unpleasant picture of him that the court ruled in favor of placing the Beatles in receivership.
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"The way they presented the receivership was that it would be beneficial to the students, but it's actually been detrimental," said Marina Awed, a student at an Argosy school in California, Western State College of Law, who was scheduled to graduate in two months.
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SEOUL (Reuters) - The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated.
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While teaching at Columbia, Dr. Stade was caught up in an extended battle over diversifying the department's faculty and curriculum; problems began festering in the 1960s and exploded in 2001 when the department was essentially put in academic receivership, with other universities making decisions for it.
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CALGARY, Alberta, March 21 (Reuters) - A Canadian court has placed privately held Lexin Resources Ltd in receivership to sell off its assets, the Alberta Energy Regulator (AER) said in a statement on Tuesday, weeks after the agency suspended licenses on all of the oil and gas company's facilities.
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But those efforts broke off in the face of a flurry of revelations that the bank was insolvent, that it might be placed in receivership, and that it was swiftly moving deposits to other financial institutions, apparently to keep them from being frozen or drained away by frightened depositors.
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It said this week that 12 parties, including local and foreign banks, had expressed interest in the bank, which is not associated with JP Morgan Chase & Co. Regulators placed the mid-sized Chase Bank under receivership in April 2016 after an unexplained loss of billions of Kenyan shillings.
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Separately, part of the government's supplementary budget would be earmarked to support small- and medium-sized businesses whose cargoes have been stranded on Hanjin ships as ports and vendors refused to provide services for Hanjin, which is under court receivership, a lawmaker in the ruling Saenuri party said.
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While Trump made no appearances open to the Irish public, his sons Eric and Donald Jr. toured the pubs in Doonbeg on Wednesday, buying drinks for almost everyone in the village, who credit the Trumps with securing their livelihoods when they bought the resort out of receivership in 2014.
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More than a decade later, after a 2008 settlement and an admission by the state in July that it had never complied with the requirements, Mississippi is now trying to avoid becoming the first state to have its child welfare system put in receivership and an outside group hired to run it.
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A spokesman for the Seoul court overseeing STX Offshore's receivership had said earlier in November that four parties had expressed interest in buying one or both of South Korea's STX Offshore & Shipbuilding Co Ltd and a controlling stake in STX France SA. Reporting by Joyce Lee in Seoul; Writing by Sudip Kar-Gupta;
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And while some cities have begun experimenting with strategies to make cheap properties less appealing to distant speculators—by using receivership, say, to seize unmaintained properties from delinquent owners—investors have little reason to avoid risky assets, especially when the risk is largely borne by local neighborhoods the investors will never see.
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"We tried to set up countermeasures for logistics issues which will arise from Hanjin Shipping's court receivership, but we were unavoidably limited as Hanjin Shipping did not respond to any requests from creditors for information about cargo owners and sailing plans," FSC chairman Yim Jong-yong told a parliament hearing last week.
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Stephen J. Donell, a longtime receiver who is not involved in the Dream Center case, said a total bill of more than $2 million for the first few months of a complex receivership was high but plausible, given the challenges of winding down operations at dozens of campuses with tens of thousands of students and employees.
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