Ottawa, Ontario, Canada (AHN) – The Supreme Court of Canada allowed Thursday the filing of a class-action lawsuit by veterans over their military pension. The action reverses an earlier decision by the Federal Court of Appeal, which was initially certified by the Federal Court.
The case stems from a suit filed by military mechanic Dennis Manuge on behalf of 6,500 injured veterans. Manuge was hurt in 2002 while assigned at the Canadian Forces Base Petawawa. When he left the military, Ottawa took back $10,000 of Manuge’s disability pension, which prompted the ex-mechanic to file the suit.
Manuge got Federal Court okay for a class action, but Ottawa appealed and secured a stay. The Court of Appeal turned down Manuge’s class-action lawsuit, ruling he should have applied for a judicial review of his case.
The basis of the Supreme Court action was a $250 million lawsuit filed by TeleZone Inc. against Industry Canada. The firm accused Ottawa of denying it a license for wireless communication services. The O Read more…
The Media Line Staff
United Arab Emirates (TML) – Emaar Properties PJSC, the sprawling Dubai real estate developer, had a near-death experience this past week when its chairman made remarks hinting that it might increase its stake in its troubled Amlak Finance unit, a move that would saddle Emaar’s balance sheet with huge debt.
Emaar quickly denied any move was afoot to boost its holding in Amlak, telling the Dubai Finance Market that it had considered converting part of the debt to equity but was now weighing “other better and viable options.” Emaar’s shares ended a decline of nearly two weeks on Sunday to close 0.6% higher at 3.57 dirhams ($0.97)
Emaar, whose projects include the El-Burj tower, the world’s tallest skyscraper, isn’t yet out of the hole. The debt at Amlak, in which it has a 48% interest, remains unresolved, and its MFG joint venture in India continues to weigh on Emaar’s cashflow. Emaar itself fa
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Unless you’ve been featured in Forbes, you probably have rent or mortgage payments that have become a bit harder to handle since the recession hit. Thousands of renters out there continue to pay more every year because the landlord wants to account for “inflation.”
Wages Down, Rents Up? Take a Stand
Income has dropped nearly five percent, yet rent has risen. Income across the country dropped between 2008 and 2009; many people lost their jobs altogether. With so many people being unable to afford rent year after year landlords have to come to terms with the fact that some money is better than no money at all. Sure it is arguable that the economy is picking itself up, but it still hasn’t even recovered to what it was which means landlords and realtors alike are in bad shape. With the housing market in the tank, this is the perfect time to start paying less.
How to Bring It Up
You have to approach the topic tactfully. Simply demanding lower rent isn’t going to lower your rent and hostile communications won’t solve anything; you still need a roof over your head. The first s
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There were 564 employees of Arrow Trucking Co. that had not seen a paycheck since they filed claims for repayment when the company dramatically closed its doors, abandoned its employees and filed for Chapter 7 bankruptcy last year.
Those employees will have a slightly cheerier holiday season now that a judge has approved the distribution of almost $2 million from the Arrow Trucking Company collection of assets.
The 564 employees had filed wage and employment law violation claims against Arrow, according to the Tulsa World.
The bankruptcy trustee in the case, Patrick Malloy, spearheaded the order that would start the distribution of the funds. The U.S. Bankruptcy Court in Oklahoma approved the proposal.
“We are signing the checks,” said Malloy, “and we will mail out a bunch today. They should all be out of here Friday.”
It was almost a year ago that Arrow closed its doors, and the bankruptcy proceedings began. On that
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Brea’s Krystal Koach is one of the country’s biggest limousine manufacturers, and it has recently filed for chapter bankruptcy protection. The company is also up for sale despite owing around $12 million to its 20 biggest creditors.
The luxury transport vehicle maker has been a victim of the economic downturn, like so many others in the past few years. When the downturn hit, the demand for luxury limos fell dramatically.
At the height of its earning power, Krystal Koach pulled in around $150 million in revenue. Those days came to an end, though, and the company filed for Chapter 11 bankruptcy protection in California recently, according to the Orange County Business Journal.
The group of creditors with the biggest claims include banks and investors, as well as manufacturing equipment financiers. Comerica Bank has an outstanding loan to the limo company for around $7 million as well. The bank is lobbying for a sale of the company, or the alternative to reorganization, which is bankruptcy liquidation.
Krystal Koach listed between $10 and $50 million in assets and in liabilities.
The bankruptcy filing is prepackaged, meaning that most of the details were worked out before the matter appeared before a court. Thi
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A few month ago, TechCrunch founder Michael Arrington ranted on TechCrunch about how his applications for an American Express credit card were repeatedly denied, despite his “good/excellent” credit rating of 748.
After the post was published and received hundreds of comments, Tweets, and a healthy helping of buzz, an American Express representative called Arrington and offered him a $15,000 credit limit on a brand new AmEx card. Here’s the full recap.
For the rest of us, no matter how much we rant, rave, and blog, we likely won’t be receiving a personal phone call from an issuer offering a credit card on a silver platter. But, with the right know-how and appropriate steps, you can make your good credit work for you when applying for a credit card.
It’s More Than Just Your Credit Score
Based on the comments in response to Arrington’s post, most TechCrunch readers believe that wealth equals good credit. But there are plenty of case studies that prove this assumption false. There is Mi
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