Global fails again in bid to suspend licence revocation

first_img Email Address 9th July 2019 | By contenteditor Regions: Europe Nordics Sweden Global Gaming has again failed in a bid to resume activities in the Swedish market while its appeal against the revocation of its operating licence is heard.The Ninja Casino operator had lodged an appeal against a ruling from the Administrative Court of Linköping, which refused to suspend the revocation until the appeals process had been carried out.The Administrative Court of Appeal confirmed the first court’s decision. This means that Global must take its appeal to Sweden’s Supreme Administrative Court, or prevail in its challenge against Spelinspektionen’s decision to strip it of its operating licence for any chance of resuming operations in the market.“The decision means that the company cannot offer games as long as the process in the administrative court is ongoing,” presiding judge Håkan Löfgren explained. “What is happening now is that the parties will complete their actions in the Administrative Court.“The Administrative Court then has to come to a final verdict, and rule on whether the revocation should be confirmed.”Spelinspektionen welcomed the court’s verdict, saying that there would be a risk to customers should the operator be allowed to resume activities in the market.The regulator stripped Global Gaming’s SafeEnt subsidiary of its licence in June this year, citing serious breaches of the country’s player protection and anti-money laundering processes. Global, however, claims that the punishment is disproportionate, and remains confident that it will prevail in an appeal.“We are of course disappointed by the ruling of the Administrative Court of Appeal and the fact that [injunctive] relief was not [granted],” newly installed Global Gaming CEO Tobias Fagerlund said following the court’s ruling.“We and our shareholders suffer a great deal of damage for every day operations are suspended,” he said. “It is still our conviction that we will prevail at the end of the process. We are currently considering options for an appeal for injunctive relief in the Supreme Administrative Court.” Subscribe to the iGaming newsletter Global fails again in bid to suspend licence revocation Casino & games Tags: Mobile Online Gambling Topics: Casino & games Legal & compliance Global Gaming has again failed in a bid to resume activities in the Swedish market while its appeal against the revocation of its operating licence is heard. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

ICC World Cup 2019 Australia vs West Indies Highlights: Australia beat…

first_img RELATED ARTICLESMORE FROM AUTHOR Bett1Open 2021 Final: Liudmila Samsonova beats Belinda Bencic to clinch title Football Facebook Twitter Sport News YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndo TAGSAustralia vs West Indies HighlightsICCICC Cricket World Cup 2019 highlightsICC World CupICC World Cup 2019ICC World Cup 2019 highlightsICC World Cup 2019 ScheduleICC World Cup LIVEWatch Australia vs West Indies HighlightsWatch ICC World Cup 2019 highlights SHARE Football Share on Facebook Tweet on Twitter Football By Kunal Dhyani – June 7, 2019 Mitchell Starc grabbed five wickets for 46 runs in a brilliant show of fast bowling as defending champions Australia pulled off a 15-run win against West Indies in a tense World Cup match to notch up their second win here on Thursday.<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span> Euro 2020- Switzerland beat Turkey 3-1: Shaqiri brace ensure 3-1 win; Switzerland’s fate hangs on other Group results Copa America 2021 Halle Open 2021 Final: Ugo Humbert defeats Andrey Rublev to become champion Euro 2020, Italy vs Wales LIVE: Matteo Pessina goal helps Italy beat Wales, finish top of Group A with flawless record; Follow Live Updates Euro 2020 MKD vs NED LIVE, North Macedonia vs Netherlands: North Macedonia to inflict a surprise defeat on Netherlands ATP Tour Euro 2020, Ukraine vs Austria: Ukraine to ensure round of 16 berth against Austria, Follow Live Updates Previous articleICC World Cup 2019 Pakistan vs Sri-Lanka Live Streaming: When and Where to Watch Live on TV and OnlineNext articleDhoni’s tribute to Indian Army hit with fans but ICC wants insignia removed from gloves Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Copa America 2021 COL vs PER LIVE: When and where to watch Colombia vs Peru LIVE streaming in your country, India, Follow live update by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGrammarlyImprove Your Spelling With This Helpful Browser ExtensionGrammarlyUndocio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comUndoE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlineUndoSent into bat, Nathan Coulter-Nile (92 from 60 balls) played a blinder of an innings, taking cue from a dogged fight back by Steve Smith (73 from 103 balls), as Australia recovered from 38 for 4 to post a competitive 288 all out in 49 overs.Chasing 289 for a win, the West Indies were in the hunt for most part of their innings but they crumbled towards the end to score 273 for 9 from 50 overs.Starc turned the match on its head by claiming three wickets in two overs in the dead after dismissing dangerous batsmen Chris Gayle (21) and Andre Russell (15) earlier.Also Read: World Cup 2019: Read Kohli’s mind going into India’s openerWest Indies needed 38 from the last five with four wickets in hand but Starc removed Carlos Brathwaite (16) and captain Jason Holder (51) in the space of four balls in the 46th over before returning to dismiss Sheldon Cottrell (1) in the 48th to grab his fifth wicket and end the Caribbean side’s run chase.Australia thus notched up their second win in the tournament after defeating Afghanistan in their first match, while the West Indies suffered their first loss after their triumph against Pakistan.Shai Hope top-scored for West Indies with a 68 from 105 balls while Nicholas Pooran made 40, besides Holder’s 51. The other batsmen got the starts but could not convert them into big scores.For Australia, Pat Cummins took two other West Indies wickets while Adam Zampa got one.The match also saw umpiring howlers with Gayle apparently at the receiving end. Television replays showed that the delivery before his dismissal in the fifth should have been a no-ball as Starc overstepped his crease. That would have meant that the delivery which removed Gayle should have been a free hit.Earlier, West Indies fast bowlers ripped through the Australian top-order in a brilliant spell before Smith and the record-breaking Coulter-Nile led a stunning fightback to power the defending champions to 288 all out.The Australians were in all sorts of trouble against the short-pitched deliveries unleased by the West Indian fast bowlers, who extracted a lot of bounce and seam movement initially from the Trent Bridge track.The Australians, who had easily beaten Afghanistan in their first match, lost four quick wickets for just 38 runs in the eighth over with Aaron Finch (6), David Warner (3), Usman Khawaja (13) and Glenn Maxwell (0) falling cheaply.But, Smith led a remarkable fightback with a 73 off 103 deliveries while Coulter-Nile unleashed a late onslaught with an unbelievable 92 off 60 balls.Coulter-Nile, who hit eight fours and four sixes, in fact, became the highest run scorer by a number eight batsman in a World Cup. This was his maiden fifty in his 29th ODI. His previous highest was a 34 last year.From 79 for five in the 17th over, the Australians clawed their way back to 119 for five at the halfway mark. With Smith and Coulter-Nile on the ascendency, they were 206 for six at the end of 40 overs before adding 81 runs in the final nine overs for five wickets.The spadework for the fight back was done by Smith, who, in March, came out of a 12-month ban for his involvement in the Cape Town ball-tampering scandal.Coming out at the team total of 26 for two in the fourth over, Smith played a defiant yet solid innings to hold the Australian innings together. He hit seven boundaries for his 20th ODI fifty and first after his international comeback.Wicketkeeper batsman Alex Carey chipped in with a 55-ball 45, which was studded with five boundaries, for an invaluable 68-run stand for the sixth wicket with Smith to resurrect the Australian innings before Coulter-Nile played the innings of his life.Also Read: World Cup 2019: Uber anthem to be played during matchesICC World Cup: Select Dugout is back on Star Sports Select 1ICC World Cup LIVE: Catch India’s matches in Inox multiplexes Viking Classic Birmingham 2021 Final: Ons Jabeur beats Daria Kasatkina to clinch title Cricketicc world cup 2019SportSport News Copa America 2021 VEN vs ECU LIVE: When and where to watch Venezuela vs Ecuador LIVE streaming in your country, India, Follow live update Sport News Football Football ICC World Cup 2019 Australia vs West Indies Highlights: Australia beat West Indies by 15 runs Sport News Tokyo Olympics: Dutee Chand, Hima Das among top athletes seeking direct Olympic qualification during IGP 4last_img read more

Scotland outclassed by peerless All Blacks

first_img<> at Murrayfield Stadium on November 11, 2012 in Edinburgh, Scotland. Sea of Black: New Zealand, led by the incomparable Dan Carter, proved too much for a leaky Scottish defenceBy Al DymockMURRAYFIELD MAY have hosted the world famous All Blacks, but the only way to see the game properly was in a pub where the sounds of the football drowned everything else out.Without the predictable analysis, the in-play commentary, the clichés or even Twitter, it is possible to assess a heavy loss, live.Of course this deliberate ploy leads to complications. In the absence of commentary there is the odd shout from the expert propping up the bar and one must make do with actually looking at what is in front of them.This is the issue. You do this. You then play Guess the Headline. You cannot avoid repeating in your head, over and over again, “…succumb to half tonne”.Without looking at Twitter or live blogs and without hearing radio or television commentary it is still possible to predict what is being said. Scotland played well, but New Zealand have finesse and power and skills no one can compete with. Quality shines through. Brave, brave Scots.Scotland did play well for large parts of the game. “Succumb to half tonne”.Scotland scored three tries. They were built on the breakdown work of Jim Hamilton and Kelly Brown, the hard running of Richie Gray, Ryan Grant and Geoff Cross, and the finishing prowess of Tim Visser.Visser time: The big wing impressedThis did not mask the errors, though. Scotland have more courage than a Drambuie doused Dutchman, but we know this already. If the oft-touted rhetoric of change is to be adhered to then press and punters alike must move on and look at the failings.It is the same with England and Wales. England have already had their year of “fresh approach” under Stuart Lancaster, and we now need a new record. The Welsh are still obsessed with free running and how a game can only be won with a Smörgåsbord of gear-changes. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALScenter_img If we can get past Scottish pride, England’s fresh approach and Welsh wizardry we will be fine.So to analyse Scotland’s game one must acknowledge the fine work, while also saying that the new Scottish team has to bite their lip and take a few cheek-reddening slaps.To “succumb to half tonne” is no longer good enough, regardless of who the opposition is. That is a necessary view point. They did do well when they swarmed in attack and they hit the ruck with more grit than a slug’s nightmare, but they fell off too many tackles, with 25 Scottish defenders beaten during the game.Three tries is stupendous for the nation and Tim Visser is proving himself to be a real fillip to Scottish rugby, but the defensive system must improve from this display if Scotland are to progress further. South Africa looked as secure as a rice paper dinghy against Ireland, but they have robust, forceful men. Scotland can build on the All Black experience by hitting these African oaks with venom.Worthy effort: Disconsolate Scots leave the Murrayfield turfCherish and reward the pack that played New Zealand, but threaten them with no supper should they ever stand in groups of three defensively again. The image of a stuttering Kiwi runner looking up and seeing two front rowers or a second row and hooker standing side-by-side is not for repeating.Also reward Visser and Matt Scott for their endeavours. Allow Greig Laidlaw room to breathe and make sure Mike Blair is still comfy with the pace of the international game.After all this organised loveliness, rally everyone. Make them aware that a defensive line must not bow in the middle and that attackers must be tracked. Above all, make them aware tackles have to stick.After this, if the Boks look just as ruthless and the scoreline is just as heavy, drop the half tonne on the management.last_img read more

J House / Christoffersen & Weiling Architects

first_imgArchitects: Christoffersen & Weiling Architects Area Area of this architecture project Lead Architect: CopyAbout this officeChristoffersen & Weiling ArchitectsOfficeFollowProductsWoodBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesOn FacebookDenmarkPublished on December 12, 2019Cite: “J House / Christoffersen & Weiling Architects” 12 Dec 2019. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream J House / Christoffersen & Weiling ArchitectsSave this projectSaveJ House / Christoffersen & Weiling Architects J House / Christoffersen & Weiling Architects Photographs Year:  CopyHouses•Denmark ArchDaily Landscape:CHRISTOFFERSEN & WEILING ARCHITECTSCountry:DenmarkMore SpecsLess SpecsSave this picture!© Tina StephansenRecommended ProductsWindowsFAKRORoof Windows – FPP-V preSelect MAXLightsVibiaCeiling Lights – BIGWindowsOTTOSTUMM | MOGSWindow Systems – BronzoFinestra B40MetallicsKriskadecorMetal Fabric – Outdoor CladdingText description provided by the architects. The sloping plot Casa J is located on lies right on the edge of a city in east Jutland. The site have a stunning view over a lake and the rolling Danish landscape. The villa is design for a family consisting of six and their daily life. The villa insects itself in the local area’s architecture by virtue of its long horizontal shape and a distinct gable roof. Towards the accesses, the villa is equipped with a simple and quiet expression to blend in with the surrounding buildings in the neighborhood, as opposed to the other side, where Casa J opens up to full width with large window sections and invites the view as well as the experience of the great nature completely into every room.Save this picture!© Tina StephansenHere the long simple shape of the house must be seen as a clear gesture to the beautiful undulating Danish landscape. The same simplicity that is disposed in the shape of the house is also sought in the choice of materials. The exterior consist mainly of long bricks and the large window sections are kept in a dark color. The special parts such as overhangs, gates and entrance doors are made in a light warm-colored wood. Inside, Casa J appears sharp and precise in its selection of materials.Save this picture!© Tina StephansenThe floors consist everywhere of a warm and classic Italian travertine. The walls and the ceilings appear simple and white, so they do not challenge the ubiquitous nature and views. In addition to the beautiful floors, the house’s many sliding doors are made of smoked oak. Finally, both floors are equipped with large room-high velour curtains in a muted brown/grey nuance. The two-story house contain all the space needed to accommodate the family’s daily life. On both floors, large terrace areas are laid out in such a way that the sun and the beautiful view can be enjoyed all year round.Save this picture!© Tina StephansenSave this picture!Ground Floor PlanSave this picture!© Tina StephansenProject gallerySee allShow lessZiggy Installation / Hou de SousaSelected ProjectsUnité(s) Experimental Housing / Sophie Delhay architectureSelected Projects Share “COPY” Erik Weiling Nielsen Denmark 2019 “COPY” Photographs:  Tina Stephansen Manufacturers Brands with products used in this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/930059/j-house-christoffersen-and-weiling-architects Clipboard Projects Manufacturers: Bygholm Wood, Petersen Tegl, Vola, Zurface, Schuco Save this picture!© Tina Stephansen+ 23Curated by Paula Pintos Share Houses ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/930059/j-house-christoffersen-and-weiling-architects Clipboard Area:  600 m² Year Completion year of this architecture project last_img read more

Free digital workshops on offer from CAST

first_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 Advertisement CAST, the Centre for Acceleration of Social Technology, is offering free half-day workshops to established non-profits that are interested in working out where digital may help them.The workshops, called Design Hops, are aimed at decision-makers in organisations with an income over £10,000.During the workshop, attendees will develop an understanding of what ‘digital’ means, how it can help and how it might be approached in their organisation. The workshop will also help to identify and prioritise a key problem that can be addressed with digital, as well as a specific next step that will enable them to test some key assumptions around that problem. They will also set achievable goals and simple actions for digital progress, and meet peers in their area tackling some of the same challenges.CAST’s workshop will also show examples of how digital approaches have helped other charities become more resilient and responsive to the needs of their service users, teach simple exercises and tools that can be used and shared with colleagues. Attendees will also learn to identify elements of their current service and networks that they can draw on to help manage change.By the end of the workshop, attendees will have drafted the outline of a brief that can be used to approach tech partners or as the basis of a pitch to relevant funding opportunities. They will also be connected to local networks, experts and tools to help support the next step of their digital journey, as well as live funding opportunities, where relevant, and ad will be offered a range of follow-up opportunities with CAST and its network to help them maintain momentum.The first two Design Hops take place in London on 22 November and Manchester on 6 December, with more to follow. Information and registration is available on the CAST site.  129 total views,  1 views today Tagged with: Digital Technology Melanie May | 2 November 2018 | News Free digital workshops on offer from CAST  130 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

Mexico Retaliates with 20 Percent Tariff on U.S. Pork

first_img SHARE SHARE Previous articleDonnelly Outlines Hoosier Priorities for 2018 Senate Farm BillNext articleNew Tools for Calculating Variable Rate Populations Hoosier Ag Today Mexico Retaliates with 20 Percent Tariff on U.S. Pork Facebook Twitter Home Indiana Agriculture News Mexico Retaliates with 20 Percent Tariff on U.S. Pork By Hoosier Ag Today – Jun 5, 2018 Facebook Twitter Mexico is retaliating against trade tariffs placed by the United States with tariff on U.S. pork. Mexico Tuesday implemented punitive tariffs starting at ten percent and escalating to 20 percent next month on unprocessed pork. The list, according to meat industry publication Meatingplace, includes a 20 percent tariff on U.S. hams and pieces of ham, as well as fresh and frozen pork legs, shoulders, and their pieces without bones. The Mexican ministry will also open a 350,000-metric-ton tariff-free quota for imports of pork legs and shoulders from other countries.Mexico is the largest export market for U.S. pork, representing nearly 25 percent of all U.S. pork exports. National Pork Producers Council President Jim Heimerl says the tariff “eliminates our ability to compete effectively in Mexico.” In a statement, U.S. Meat Export Federation President and CEO Dan Halstrom said the action by Mexico will “negatively impact everyone in the U.S. supply chain,” along with harming Mexican consumers and “potentially open up a tremendously strong market to a whole new range of competitors.”last_img read more

Yard signs: A throwback in the digital age

first_imgprintCampaigns have gone digital, relying on social media platforms and text messages to reach voters – but yard signs are still the promotion of choice for some voters.With the November midterm election less than a month away, signs have been popping up in yards and lots across the state touting various candidates.“I feel like a sign carries a lot more weight,” said Sinai Diaz, a senior political science, philosophy and film, television and digital media major. “It’s a way to reach outside of the echo chambers that we make for ourselves online. Someone went out of their way to purchase a sign and put it up, and there’s no way for anyone to click out of it.”O’Rourke’s black and white signs are a stark contrast to the typical red, white and blue political sign.Diaz has one of the black and white “BETO” signs that have sprouted in lawns across Texas. Beto O’Rourke, a Democrat, is challenging Republican incumbent Ted Cruz for his U.S. Senate seat.A campaign spokesman said it has not tracked the number of BETO signs it has sold or given away, but it seems as if O’Rouke’s black and white signs dominate lawns across Texas, far outnumbering his competitor.The Star-Telegram reported that the Cruz campaign has distributed 10,000 signs so far and ordered another 25,000 in an attempt to bridge the sign disparity.But the Cruz campaign said in a statement its primary focus is voter contact.That hasn’t stopped Cruz signs from appearing across the Lone Star State.“I plan to vote for Ted Cruz in November — [but I] never looked for his sign until hundreds started popping up for Beto,” said Lauren Dooley, a senior political science major and officer with the College Republicans.Ted Cruz’s signs align with the traditional patriotic color schemeThe Princeton Review ranked TCU students as the 19th most conservative in the nation last year, but Dooley said she was worried her sign might rankle some of her neighbors and friends. Nevertheless, she posted it.“Some people have all their party’s candidates down the ballot represented in their yard,” Dooley said, “others tuck it away as if they already anticipate it upsetting a neighbor.”Dooley and Diaz said if their signs were stolen or destroyed they wouldn’t hesitate to replace them.“I would keep replacing it with a new one until they realized destroying it won’t keep me from voting for who I want,” said Dooley.Diaz said, “I’d buy two more.” Facebook Revamped enrollment process confuses some students Facebook Grace Amisshttps://www.tcu360.com/author/grace-amiss/ Language barriers remain in TCU’s alert system Flu activity remains high in Texas Linkedin + posts Twitter Grace Amisshttps://www.tcu360.com/author/grace-amiss/ Grace Amisshttps://www.tcu360.com/author/grace-amiss/ Abortion access threatened as restrictive bills make their way through Texas Legislature center_img TCU cancels offer to trade tickets for canned food Grace Amisshttps://www.tcu360.com/author/grace-amiss/ Grace Amiss is a senior journalism major and managing editor for TCU360. When she is not reporting she is most likely raving about her golden retriever or taking a spin class. Grace is currently writing about student life at TCU, so feel free to drop her a line if you come across a story you feel is worth sharing! ReddIt ReddIt Linkedin Grace Amiss Previous articleThursday night football game proving difficult for administration, studentsNext articleListen: Ball Don’t Lie: Top League Fits Grace Amiss RELATED ARTICLESMORE FROM AUTHOR Twitter What we’re reading: Chauvin found guilty in Floyd case, Xi to attend Biden’s climate change summit What we’re reading: Former Vice President dies at 93, Chad President killed on frontlineslast_img read more

FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit

first_imgSubscribe Related Articles The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Home / Daily Dose / FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotlandcenter_img Previous: U.S. Congressman Hensarling Scheduled to Speak on Fifth Anniversary of Dodd-Frank Next: Cleveland Bank Demonstrates Ability to Remain Well-Capitalized in Stress Test Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotland 2015-07-02 Brian Honea Share Save July 2, 2015 1,145 Views Servicers Navigate the Post-Pandemic World 2 days ago The Royal Bank of Scotland (RBS) may have to pay as much as $13 billion in a mortgage-backed securities lawsuit filed by the Federal Housing Finance Agency (FHFA), according to multiple media reports.FHFA made a filing in the U.S. District Court in Connecticut in late June seeking $13 billion in damages, according to a report from Bloomberg. RBS was one of 18 lenders sued by the FHFA in 2011 to recoup U.S. taxpayer costs following the government’s $187.5 billion bailout of Fannie Mae and Freddie Mac in 2008.The lawsuit against RBS in the Connecticut court involved the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion. The case should go to trial sometime in 2016 if a settlement is not reached. Analysts from Bloomberg Intelligence predict that the two parties will reach a settlement for between $1.8 billion and $4.5 billion before it goes to trial. The $13 billion FHFA asked for in the filing exceeds all previous estimates.Out of the 18 lenders the FHFA sued, 16 of them settled for a combined total of about $17 billion. Nomura Holdings took FHFA to trial in March for a case in which RBS was also a defendant. In the two-month  long bench trial, Judge Denise Cote in the U.S. District Court in the Southern District of New York found Nomura liable for deceiving Fannie Mae and Freddie Mac in the sale of $2 billion worth of mortgage-backed securities to the GSEs prior to the financial crisis of 2008. FHFA was seeking $1.1 billion in damages in that case; the judge awarded the agency $806 million. The bank has appealed the verdict.In June 2014, RBS agreed to pay $99.5 million to settle a separate FHFA suit claiming that the bank sold more than $2 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac between 2005 and 2007, the years of the “housing bubble” in the U.S. FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Intercontinental Exchange Acquires Ellie Mae

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Intercontinental Exchange Acquires Ellie Mae Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Home / Daily Dose / Intercontinental Exchange Acquires Ellie Mae September 4, 2020 992 Views About Author: Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago 2020-09-04 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Share Save Previous: Cities With Most Distressed Homeowners Next: Latest Housing Market Stats The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Intercontinental Exchange, operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, today announced that it has received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from the private equity firm Thoma Bravo.“We are excited to begin the next important chapter in our journey to digitize the residential mortgage industry,” said Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Ellie Mae’s industry leadership and best-of-breed technology will better enable us to further accelerate the automation of the mortgage origination workflow, which will benefit stakeholders across the production chain, including consumers.”Ellie Mae was founded in 1997 with a mission “to automate and digitize the trillion-dollar residential mortgage industry. Through its digital lending platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its more than 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages, while maintaining strict adherence to various local, state and federal compliance requirements,” according to a statement today.Intercontinental Exchange’s efforts to help automate the mortgage workflow began with its majority investment in the Mortgage Electronic Registrations System (MERS) in 2016, which it fully acquired in 2018. The strategy continued with the acquisition of Simplifile in 2019, furthering a focus on digitizing the closing and post-closing process for U.S. mortgages. The core focus of Ellie Mae’s technology, experience, and network is in the mortgage origination process, connecting brokers, underwriters and lenders. With all three of these entities, MERS, Simplifile and Ellie Mae working together as part of ICE Mortgage Technology, the expanded platform will, for the first time, bring together all of the key stakeholders from origination to final settlement in one digital mortgage ecosystem.Also included in today’s announcement, were key Q3 financial metrics:”Based on a closing date of September 4, and an allocation to ICE based on the number of business days following completion, ICE currently expects the Ellie Mae transaction to contribute the following to its third quarter results:Revenue of $67 million to $72 millionAdjusted operating expense1 of $34 million to $36 millionInterest expense of $11 million to $12 millionApproximately 5 million weighted average diluted shares outstanding, which are expected to result in total weighed average diluted shares outstanding of 551 million to 554 million in the third quarter of 2020.Note: Adjusted operating expenses excludes the amortization of acquisition-related intangibles related to the Ellie Mae acquisition. At the time of this release, we cannot reasonably estimate the GAAP operating expenses due to the unknown amount of amortization acquisition-related intangibles, which are currently being valued by a third party and are expected to be disclosed when we report our third quarter results.” Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Newslast_img read more

Hit the road, Jack

first_imgRelated posts:No related photos. Hit the road, JackOn 10 Apr 2001 in Personnel Today Previous Article Next Article Comments are closed. Gettingrid of senior staff has little to do with fairness. It has more to do withnegotiating a suitable go-away package with the minimum of fuss. And with hugepayoffs on the table, the law is rarely an issue. By Stephen OverellTheboardroom putsch is one of the classic manoeuvres of corporate life, practised,according to employment lawyers, on an almost daily basis by their clients. Butit is also one of the few areas of their trade in which the law seems to bealmost irrelevant. Whereas the law is of prime importance when carrying out anormal dismissal, when sacking a senior director, nine times out of 10, what iswritten in statute books is immaterial; it is what is written in contracts thatis critical.”Thereis an increasing tendency to dismiss directors unlawfully,” says DanielBarnett, an employment barrister at Gray’s Inn Chambers. “They will bedismissed without notice for any reason without regard to whether it is fair ornot and expected to mitigate their losses. It is cynical, but it has becomestandard advice.”Whilesenior executives have the same employment rights as everybody else, with amaximum award of £51,700 potentially available for an unfair dismissal, this isonly rarely at issue. Neither party wants to go to court or tribunal if theycan avoid it; the risk of bad publicity and poor impact on future careers cutstwo ways. Whatis more important is what the contract says about notice periods. For almostall senior executives these are likely to be upwards of a year and couldtheoretically form the basis for a significant breach of contract claim.SueNickson, head of employment at law firm Hammond Suddards Edge, says, “Ifthere is not a situation of gross misconduct, and a company wants someone toleave quickly, the driver for the whole process is what the contract says aboutpayments in lieu of notice.”AndJames Davies, partner in the employment department of law firm Lewis Silkin,says, “There is not really much law in the process. It all comes back tothe terms of the contract. Usually, it is all done diplomatically and amicablyand will normally result in a windfall for the individual. But if the terms ofdeparture have not been properly tied down at the time of recruitment, it canbe very tricky for the employer.”Forany employer hoping to get rid of a senior employee, the ideal scenario is verysimple. They want the person to leave quickly without upsetting colleagues,customers or suppliers and, more important still, without poaching any of them.Rather like a divorce, the best way is to sit down and negotiate a compromise.In return for a go-away payment, the company gets minimum fuss.Negotiationsover the departure of a senior executive are based on assumptions of thepotential damages the individual could receive in a breach of contract claim.When suing for breach of contract, individuals normally have a duty to mitigatetheir losses. In other words, they are under an obligation to find work, withthe amount likely to be earned offset against any damages they receive to covertheir losses. Therefore the ease with which a person is likely to findcomparable work is of great importance to the amount of damages. So too fornegotiations.Typically,says Cliff Weight, principal in the executive compensation practice ofconsultancy William M Mercer, the executive will receive between a third andtwo-thirds the value of the contract.Despitethe Cadbury and Greenbury committees into corporate governance recommendingthat senior executives should not be on contracts lasting more than a year,about a third of directors are on contracts lasting longer. Many have noticeperiods of three or more years. Forindividuals with hefty bargaining power, some are able to negotiate”liquidated damages” for their con- tracts. This gives an employeedismissed with immediate effect – other than for misconduct – not just anentitlement to payment in lieu of notice, but no obligation to mitigate thecost of that to the employer.”Damagesare there to put someone in the position they would have been in if they hadseen out the contract,” says Ben Wood, employment solicitor at law firmLupton Fawcett. “In breach of contract cases, the notice period is likelyto be the basic measure for damages, but there are also benefits such ascompany cars, long-term incentivisation packages, share options and bonuspayments which all have to be taken into consideration.”Contractsof employment for senior staff typically have restrictive covenants writteninto them preventing the individual from entering into direct competition, solicitingbusiness from customers or suppliers, poaching workers and from misusingconfidential information. Butone of the most important things to remember in potential breach of contractcases is that in the event of a breach, such covenants cannot always be reliedon. Most senior executive contracts contain payment in lieu of notice clauses –known as “Pilon” – enabling the employer to terminate the contractimmediately without there being a breach, thus maintaining the enforceabilityof the contract.Incases of doubt about the enforceability of the covenants, however, theexecutive may have to sign a compromise agreement. This is a document in whichthe executive agrees to sign away rights in return for a sum of money. Butcompromise agreements are also a way to repeat restrictive covenants from theservice agreement or put in new restrictions. “Ifan employer is particularly concerned about losing control of an employee aftertermination it is possible to make payments by instalments over time,” saysWood. Any instance of a person losing their job can easily become a highlyemotive one, with senior departures being no different from more lowly ones.Therefore,says James Davies, it is as well for companies not to underestimate theimportance of packaging the departure in a positive light – selling it in a waythat does not harm an individual’s career prospects or self-esteem. After all,terminating an employment relationship that has gone sour can indeed be apositive move for both sides.But,he says, it is also as well for employers not to give grounds for staff tolaunch a discrimination claim which, with uncapped compensation, can beinfinitely more damaging than any breach of contract suit. The famous case inthis area is that of Michael Bourgeois, a former director of Saga Petroleum ofNorway, who won £2m in a race bias claim last year after being sacked on thegrounds that “his management style did not fit in”. Hesuccessfully argued that the company wanted to fill key positions with Norwegiannationals, while forcing him to take a back seat at board meetings held largelyin Norwegian. “Sacking people on such vague, intangible grounds ofmanagement style, has been shown to potentially give rise to discriminationclaims,” says Davies.Inone or two rare cases, it has been known for executives to refuse to go quietlyin a bid to hang on to their jobs. In these situations, when senior employeesrefuse to play the game, employment lawyers say it is standard practice for anemployer to try to trump up charges of gross misconduct and engineer theirdismissal that way. “Fairness does not have much of a role in dismissalsat a senior level,” as one lawyer put it.last_img read more