Wednesday, 6 May 2015
Last updated 20 hours ago
Mar 28 2014 | 9:02am ET
A Japanese court has rejected Silver Point Capital's claim that Norway's Eksportfinans has defaulted on its Japanese bonds.
The state-backed export bank said in a statement after the decision that the Tokyo District Court junked the claim "on the basis that the plaintiffs' allegations regarding events of default are groundless." Eksportfinans added that the hedge fund would have to pay its costs.
The judge did not offer a reason for the decision.
Silver Point has two weeks to appeal the ruling.
Eksportfinans is being wound down and replaced with a new export financing program. The company has said it will cease operations as soon as it settles its debts.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…