Roads were shut and stern warnings were issued as the country experienced extreme weather conditions
Morgan Stanley & Co., Bank of New York Mellon Corp. and three securities ratings services have been sued by Abu Dhabi Commercial Bank for allegedly rating too highly a structur ed investment vehicle that collapsed last year. The ADCB seeks unspecified money damages and class-action or group status on behalf of everyone who invested in the vehicle launched by Cheyne Finance Plc from October 2004 to October 2007, according to a complaint filed yesterday in federal court in Manhattan.
"The financial instruments plaintiff purchased which defendants represented had high investment-grade credit ratings are now worth zero,'' lawyers for the bank said in the complaint.
Cheyne's structured investment vehicle, premised on short-term borrowing to buy higher-yielding assets, collapsed last year. Investors have recovered about 55 per cent of the face value of their holdings in an auction of Cheyne's assets. The SIV had owed about $5.7 billion in senior debt, according to its receivers at the accounting firm of Deloitte & Touche LLP.
Roads were shut and stern warnings were issued as the country experienced extreme weather conditions
The game’s rising stars and DP World Tour winners will be in action over the next four days at the Al Ain Equestrian, Shooting & Golf Club
In the video, the man can be seen scaling the roof of an SUV and smashing its glass roof
This directive has been issued after taking the current country-wide circumstances into account
USA Basketball confirmed a formidable 12-man roster bristling with NBA talent
Many walked for hours on end to get to safety, however, some were not able to return home until the next day