Category: ssvhztgx

 

Fantasy Football League Taken Over By NFL Players Raises 10000 For Charity

first_imgThe Getaway 2 Give (G2G) Collection, a destination club that helps transform the lives of busy people through the power of experiences and contribution, just completed its second Fantasy Football Program using the ESPN Platform.This invite only, multi league program was offered to members of the G2G Collection.Thirteen NFL stars, past and present included Takeo Spikes, Roddy White, Malcolm Jenkins, Sean Weatherspoon, Marcell Dareus, Malcolm Jenkins, Larry English, and Lawyer Milloy. Other notable players included singer Amy Grant, ESPN Sport Science host John Brenkus, and ESPN SportsCenter anchor Jay Harris. A total of 60 teams played for big prizes for charity – each of which produced donations to an organization supported by one of the participating NFL players. Prizes included: • 1st – $5,500 cash donation • Runner Up – A 5 night stay at a G2G residence that is used in a live auction to raise more money for that causeWhen the dust settled Takeo Spikes narrowly edged out Jay Harris, who finished in 2nd place.Takeo selected the Will Allen Foundation to receive the $5,500 cash donation. Jay Harris selected Lomas Brown’s cause, the National Kidney Foundation of Michigan. The stay will likely raise $5,000 to $10,000 in a charity event auction later this spring.Allen, the Pittsburgh Steeler Safety and Ohio State alumnus said “I am always thankful and humbled when the Will Allen Foundation receives support. Takeo has always exemplified what it means to be a warrior on and off the field. As a current NFL player I am inspired by Takeo’s tenacity, toughness and commitment on the field. As a philanthropist I am moved by his heart and selflessness. Because of Takeo’s generosity we can continue to educate, influence and empower many lives. I am grateful for having friends and supporters such as Takeo and G2G Collection to uplift my philanthropic endeavors”.G2G co-founder and Chief Giving Officer Rob Vaka added, “Takeo and Will embody the spirit of what G2G stands for- transforming as many lives as possible through the power of experiences and contribution. More plainly put, that’s meaningful moments while travelling with people you care about and those you are yet to meet, and impacting a cause at the same time. With hundreds of members who also believe in Doing Well by Doing Good, dozens of which are NFL players, we’re looking forward to 2015 and to adding to the nearly $2 Million that G2G has been able to generate for deserving causes. For people who travel to cities like NYC, LA, SF, or Chicago, or vacation in beach or mountain destinations, come join us and change the world one experience at a time”.Source:PR Newswirelast_img read more

 

Navy arrests 147 Aussie bound asylum seekers

The 147 asylum seekers were handed over to the criminal investigations division of the police for further investigations.Hundreds of people have been arrested so far this year by the police and navy in Sri Lanka as they attempted to make the dangerous journey to Australia buy boat. The Sri Lankan navy on Tuesday arrested 147 Australia bound asylum seekers on two boats.A navy spokesman said that one trawler was seized with 66 people on board in the southern seas of Beruwala while the other boat was nabbed with 81 people in northwestern Chilaw. However at the same time many have managed to reach Australia where they are placed at a detention center on Christmas Island.The Australian government is now in the process of shifting asylum seekers to an offshore processing center.Both the Sri Lankan government and Australia have an agreement to combating human smuggling and the Sri Lankan authorities had recently warned asylum seekers not to fall prey to human smugglers who charge huge sums of money for the journey by boat. (Xinhua) Most of the asylum seekers arrested were minority Tamils while the rest were Sinhalese, the navy spokesman said. “There were 64 Tamils in one boat and 59 Tamils in the other. All those arrested are residents of Jaffna, Mullaithivu, Trincomalee, Vavuniya, Batticaloa, Kilinochchi, Chilaw, Puttlam, Colombo, Negombo, Kurunegala and Mannar,” the navy spokesman said. read more

 

Chevron is allowed to stay in Venezuela until October

WASHINGTON — The Trump administration is allowing Chevron to continue operating in Venezuela at least until October despite U.S. sanctions aimed at ousting President Nicolás Maduro by choking off revenue from the world’s largest crude reserves.Friday’s action gives Chevron until October 25, when the Treasury Department will decide again whether to revoke or renew the license for a second time. The license was originally issued in January for six months.Chevron didn’t immediately respond to an inquiry from The Associated Press seeking comment.Chevron has operated in the South American country for almost a century and its four joint ventures with state-run oil monopoly PDVSA currently produce about 200,000 barrels a day. That’s about a quarter of Venezuela’s total production in June.The Associated Press read more

 

Restructuring expert Sedran replaces KarlFriedrich Stracke who resigned

Restructuring expert Sedran replaces Karl-Friedrich Stracke, who resigned AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by David McHugh, The Associated Press Posted Jul 17, 2012 1:04 pm MDT FRANKFURT – General Motors’ lossmaking Opel subsidiary has named restructuring expert Thomas Sedran as interim CEO while it looks for a permanent replacement for Karl-Friedrich Stracke, who abruptly resigned last week.Sedran, 47, joined Opel in April as a top executive in charge of strategy. He has played a role in Opel’s efforts to stem years of losses, both as an outside consultant at turnaround firm AlixPartners and at Opel.The Opel board of directors on Tuesday named Sedran deputy chairman of the management board, the top management body, and said he would act as interim chairman of that group until a permanent replacement for Stracke can be found. Management board chairman is the German equivalent of CEO.The company said Sedran would keep his current job as chief of operations, business development and corporate strategies.“We will continue to implement our business plan as it was outlined and work to improve it. We will further reduce bureaucracy and continue to challenge the corporate culture,” said Opel board of directors chairman Steve Girsky, who is also vice-chairman of the GM board.While Stracke served as both head of Opel and as president of GM Europe, Sedran takes over only the interim Opel post.The title of president of GM Europe remains with Girsky, who assumed control of the company’s European operations after Stracke left.Stracke, who served as both CEO and head of GM Europe, resigned just two weeks after presenting a plan to improve the struggling Opel and Vauxhall brands in Europe. The plan included new models in areas where the company was not represented and cost savings through an alliance with France’s PSA Peugeot Citroen. The company was in talks with employee representatives that foresaw closing its plant in Bochum, Germany, in 2017 and asking employees to forego a recently bargained raise.GM head Dan Akerson praised Stracke, who is to work on special projects for the company. But industry experts say Stracke’s departure may be a sign that GM is impatient with the pace of restructuring its European business and ending losses there. The company faces obstacles to rapid restructuring such as labour contracts that forbid layoffs until 2015 and the German practice called “co-determination” that gives employee representatives seats on the board of directors.Some analysts also think that Girsky may be positioning himself to bid for the top job at GM by leading a successful turnaround at Opel. Edmunds.com analyst Michelle Krebs has said that “turning around GM’s operations in Europe would be a huge step toward the throne.” read more

 

Protest against VAT on private education continues

The following are scenes from today’s protest (Photos by Padmini Ujraj)  The group maintained that they will continue to protest the action by government for as long as it takes for the taxation on private education to be revoked. In light of the Government maintaining that the Value Added Tax (VAT) on private education will continue pending revisions in 2018, another silent demonstration was held in front of the Ministry of Presidency today.The gathering of a significant amount of adults and children were seen holding placards against the tax on private education implemented by Government earlier this year.Speaking to media operatives today, several persons continued to decry the Administration’s decision to continue with the taxation measure, highlighting that it “just adds to the burden to live in Guyana.”One mother of four said that her children, who are all at the primary level, were not admitted into private educational institutions because she is wealthy, but because the private schools have more to offer than the public system.“The government is saying they’ve invested 17 percent of the budget into the public system but they’re not taking that money to pay the teachers adequately, they’re paying that money to try to fix the broken public system. The best teachers are forced to leave the public system to go to the private schools. That’s why i send my children there.” Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedCitizens up pressure on Govt to reverse decision to VAT private educationFebruary 28, 2017In “latest news”Against public outcry: President says 14% VAT on private education remainsMarch 2, 2017In “Business”PPP calls for ‘immediate removal’ of VAT on educationFebruary 27, 2017In “latest news” read more

 

Robot arm lets simulator pilots experience 6 G forces

first_imgGamers are always looking for hardware to make their experiences more immersive, and once again we get to be jealous of professional-grade simulator equpiment. Australia’s Deakin University has assembled a flight simulator on a heavy-duty robotic arm that provides six degrees of freedom and as much as 6 G of force coming from rapid motion.The video above shows the sim in action. When the training pilot moves the joystick, the plane on screen moves as expected. So does the entire rig, screen, seat and all. The rig was built by the university’s Center for Intelligent Systems Research (CISR) with support (presumably funding) from Australia’s Department of Defense. It uses a modified industrial robot arm and allows two axes of continuous rotation, which makes it possible to train on some complex fighter jet moves. It also incorporates a motion-tracking system and a 3D display for increased immersion.The use in military training is obvious, but it’s possible that other vehicles could be simulated as well. The video below shows a similar system used to simulate Formula 1 driving, complete with the fast motion and forces inflicted on a driver on a level surface.Playing Battlefield 3, with its variety of vehicle options, would be an unusual, but probably very cool use. Or maybe go more traditional, with a high-speed, futuristic racer like Wipeout and provide the G-forces that action gamers are looking for.It’s unknown how much was spent to build this rig, but if $50,000 just gets you a little jostle, 6 G of force may be out of everyone’s reach.via PopScilast_img read more

 

Rumor New Galaxy Nexus model getting a spec bump

first_imgThe Samsung Galaxy Nexus %displayPrice% at %seller% has been Google’s flagship device since late last year when Android 4.0 Ice Cream Sandwich launched. The device also took center stage when Android 4.1 Jelly Bean was announced at Google I/O a few months ago. The Nexus is getting a little long in the tooth, but rumors are swirling about a possible spec bump on the way. This would be an interesting precedent.A spec sheet obtained by SamMobile lists a new Galaxy Nexus model number, the GT-i9260. The current GSM Nexus is the GT-i9250. The sheet lists the new Nexus under the codename “Superior,” apparently referencing the improved specs. The new phone does not appear to be a complete rethinking of last year’s launch device, but it is a notable step up.The current model has a dual-core 1.2GHz TI OMAP4460 ARM chip, but the new Superior is supposed to have a chip clocked to 1.5GHz. The exact model is not specified, but an OMAP 4470 seems like a solid bet. The 5MP camera on the Galaxy Nexus might be its weakest point, so it’s exciting that the specs call for a new 8MP camera sensor. The screen and internal storage are apparently unchanged.If there is not part of this leak that makes it feel inauthentic, it’s the apparent inclusion of a microSD card slot. Google has been adamant about its preference for a unified single storage partition. The Nexus S, Galaxy Nexus, and Nexus 7 have all been provided sans card slot. This would be a bizarre turnaround.It’s getting close to the time Google would usually put the Galaxy Nexus out to pasture. Could Google be looking at an improved version of the phone as a stopgap? I would be a little disappointed if that was the case.SamMobile, via The Vergelast_img read more

 

Game Of The Year Imbroglio

first_img For too long the definition of “Game of the Year” has been unfairly narrow. How boring is it to see every website shower the same stale AAA games with praise at the end of each holiday season? So at Geek.com we’re doing what we can to put a stop to this in Game of the Year, a new column celebrating worthy alternative picks for the year’s greatest game regardless of genre, platform, year of release, or even quality. Here, any game can be Game of the Year!Mobile gaming is, for the most part, a desolate wasteland of clones and cash grabs. The App Store overflows like a toilet with Clash of Clans and Crossy Road-alikes, churned out in days and stuffed with microtransactions to ensnare tweens into spending money. But then there’s developers like Michael Brough, who’s latest game Imbroglio costs a few bucks up front and will keep you busy for, in my case, years.I first played Imbroglio two years ago when I was serving as a judge for the Independent Games Festival. I played nearly 100 different games during my month of judging. Some were great. Some were terrible. Imbroglio is the only one I kept on my phone. I played it nearly every day for the next year until it was officially released for iPhone, and then I bought it and have played it for another year since.At its heart, the game is a roguelike. It puts you in a turn-based space with a group of monsters. You move, then they move. But the twist here is weapons. Instead of carrying them with you, each of the board’s 16 tiles is a weapon. You attack with whichever one you’re standing on, and you lay them out before the game begins. What ends up happening is a fusion between deck-building like Magic: The Gathering and tactical movement like Nethack.There’s very little resource management in Imbroglio. You start with four red and four blue health points. Monsters subtract one on attack based on their color – reds take red, blues take blue. Run out of all of either kind, and you die. Weapons are also color-coded red or blue, with the same rules. There are four main types of enemy, with different amounts of each kind of health. Cubes have one blue and four red, so you’ll want to hit them with a blue weapon to take them out in one turn.Pick up the purple star to regain one red and one blue health and re-arrange the walls, fight monsters until you die. Your score is how many times you got the star. Simple, right?If that was all Imbroglio had going for it, it’d still be a fun game. But the layers of systems Brough has built on top of the framework make it insanely addictive.First, let’s talk about weapon leveling. Kill an enemy with a weapon, and it’ll gain a point. Four points gains a level (up to a maximum of four). Weapons get different effects as they level up. One lets you regain red health. One teleports you to a random spot on the map. One lets you walk through adjacent walls at the cost of one blue health. Managing your kills to level up weapons means that every monster is a vital resource that can also kill you.The game also gives you eight different heroes to play with, each with a special ability and a disadvantage. You get a rune when you level up, which you spend to trigger your ability. One hero can knock down walls in his way, but can’t have any duplicate cards on the board. Another has a longer default distance to move to the star but can warp from one edge of the board to another. Everyone requires different strategies and different weapons.Oh, and did I mention there’s an expansion that adds, even more, characters and weapons? Imbroglio was my Game of the Year in 2015. It was my Game of the Year in 2016. It will probably be my Game of the Year in 2017, too.Buy Imbroglio at the App StoreCheck back next week to read about the next Game of the Year! Review: ‘Fantasy Strike’ Is A Fighting Game That Understands…Game of the Year: Jordan Minor’s Best Video Games of 2018 Stay on targetlast_img read more

Bugaloos Conch Crawl a Joaquin survivor

first_img Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 08 Oct 2015 – One of the survivors of Hurricane Joaquin in Turks and Caicos is Bugaloo’s Conch Crawl. The restaurant, which is credited with bringing new appeal to Five Cays was besieged by surge waters and covered in sand. Mike Stolow, owner of Bugaloos said they have worked hard on clean up and will open on Friday for business.The reopening is in time for the busy tourist season, as many around the country over the next week will reopen for Fall and Winter visitors. Louis Bacon’s Moore Bahamas Foundation Announces Donation To Rotary Club Of The Bahamas For Relief Efforts In The Bahamas Atlantic Hurricane Season over; takes 88 lives, costs $590 million North to Middle Caicos Causeway behind schedule; residents concerned over Joaquin flooding Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:Bugaloo’s Conch Crawl, hurricane joaquin, mike stolowlast_img read more

Crab Feast Fundraiser

first_imgThe neighborhoods of Historic Union Square are hosting their first annual Union Square Crab Feast fundraiser on August 22nd in the Union Park, 1500 block of West Lombard Street; from 12 noon to 5 p.m. Admission is $45 for adults and $10 for children, 5 to 12 years of age. The crab feast will be held rain or shine. Seating is limited. Contact 443.297.7532 form 8 a.m. to 5 p.m. or www. unionsquareassociation.org/crabfeast for tickets and more information.last_img

Zuska Paces Cardinals at the NCAA Championships

first_imgStory Links JOHNSON, Arkansas – Heading into the NCAA Men’s Golf Championships this weekend, head coach Mark Crabtree knew his young team faced a challenge with the big stage of the national championship, and the length and toughness of Blessings Golf Course.The 19th-year head coach knew exactly what he was talking about as the Cardinals started the first round of the NCAA Championships by shooting a 25-over-par 314 to sit in a tie for 27th place after Friday’s round.Playing in windy, hot conditions, the senior-less Cardinals, who were playing with three juniors and two underclassmen, battled the 7,550-yard course in 88-degree heat. However, the Cardinals weren’t the only team to put up a high numbers, as all 30 teams carded scores over par.”It was a very tough start,” Crabtree said. “It’s a very difficult golf course, but we made it a lot harder at times. It’s the national championship. It was a rough beginning, but we’ll have to go and make some adjustments for tomorrow. We have to go out tomorrow and do things a little different.”While four of the five Cardinals shot over par, Crabtree was pleased with the score of freshman Jiri Zuska, who put together one of his best rounds of the season.  “For a player to go out on this golf course and shoot even par, is a great golf score,” Crabtree said. “It was probably his best round of the season for him.””That’s very positive. Hopefully, he can build on it. At the end of the day, it will probably be one of the top 15 or 20 scores on the board for the day.”Zuska, who shot a combined 13-over-par at the ACC Championship and the NCAA Regional, played to his capabilities in the first round of the championship by carding an even-par 72 on one of the toughest golf courses in the country.After shooting a 2-over-par on his first five holes, the native of Kladno, Czech Republic, worked his way back to even after his birdies on No. 11, No. 13 and No. 15. The rookie is tied for 19th-place, but is just four shots off the lead.The Cardinals top player all season, Matthias Schmid, shot a 10-over-par 82, which was his highest score of the year.It looked early on that the Cardinals might be able to survive one of the nation’s toughest golf courses after Schmid birdied the first two holes of the championship. He put the Cardinals on the board with a 30-foot birdie putt on the first hole and scored again on No. 2. However, like everyone else in the field, the course got the best of him.Devin Morley fired a 6-over-par 78 on the day, but showed signs of promise on the back nine. He recorded birdies on No. 13 and No. 14 before registering an eagle on the next hole. However, the junior gave most of it back with a double bogey on No. 16.John Murphy fired a 9-over-par 81, while Trevor Johnson carded an 89 to round out the field for the Cardinals.The Cardinals, who will be paired with Pepperdine and North Florida, return to action on Saturday with a 1:22 tee time. Print Friendly Versionlast_img read more

 

China launches stealth frigate amid ocean tensions

first_img Parents, stop beating yourself up Top Stories Arizona families, Arizona farms: working to produce high-quality milk Construction begins on Chandler hospital expansion project 4 ways to protect your company from cyber breaches However, China has made no secret of its desire to extend its navy’s global reach, and the service has received considerable attention in China’s military modernization. China’s first aircraft carrier, the overhauled Soviet-era Liaoning, entered service last year, while a growing array of nuclear submarines and ultra-modern surface ships are also joining the fleet.(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Mary Coyle ice cream to reopen in central Phoenix Former Arizona Rep. Don Shooter shows health improvement Bottoms up! Enjoy a cold one for International Beer Day BEIJING (AP) – China has launched the first ship in a new class of stealth missile frigates, state media reported Tuesday, amid ongoing tensions with neighboring countries over Beijing’s maritime claims.The People’s Liberation Army Navy is building a total of 20 Type 056 Jiangdao class frigates to replace older models and bolster its ability to conduct patrols and escort ships and submarines in waters it claims in the South China and East China seas. Sponsored Stories Comments   Share   The first in the class, No. 582, was formally delivered to the navy on Monday in Shanghai, which is home to one of the country’s largest complexes of naval shipyards, according to the official Xinhua News Agency and the navy’s official website.Newly promoted navy commander Wu Shengli attended the delivery ceremony, the reports said, an indication of the importance with which the service regards the new ships’ mission.The helicopter-equipped ships feature a sleek design to reduce clutter and make them harder to spot by radar and are armed with anti-ship and anti-aircraft missiles. They also need a crew of just 60, two-thirds fewer than older vessels, a major advantage that should boost efficiency and relieve burdens in training and recruitment. At 1,440 tons fully loaded, is considerably smaller than U.S. Navy frigates, and is categorized by some observers as a member of the smaller class of ship known as corvettes.China’s navy has so far stayed aloof from the island disputes in order to avoid further escalating tensions, with patrol ships from the Ministry of Transportation and other government agencies dispatched instead to assert China’s territorial claims.last_img read more

Accor acquires FASTBOOKING

first_imgHotel operator Accor has acquired French company FASTBOOKING, a digital services provider for the hotel industry.Under Accor’s operation, FASTBOOKING will continue to deliver hotel solutions to almost 4,000 hotels worldwide.Accor chairman and chief executive officer Sébastien Bazin said the take-over will help speed up the development of the company’s digital strategy.“Following the acquisition of Wipolo last October, this new transaction enables us to further expand our capabilities and strengthen our digital expertise for the benefit of our hotels,” Mr Bazin said.“While maintaining its independence, FASTBOOKING will now enjoy the support of a global leader capable of providing the resources it needs to make the most of its enormous potential, so that it can continue to innovate for an even larger client base.”Founded in 2000, FASTBOOKING focusses on hotel website development, revenue management optimisation tools and the management of distribution channels and digital marketing.FASTBOOKING chairman and chief executive officer Jean-Gérard Galvez said Accor’s investment into the company is the beginning of a new development phase.“It is also a sign of recognition for the incredible work done by our teams, who have spent the past few months redesigning our solutions to make them even more innovative and efficient,” Mr Galvez said.FASTBOOKING, with its two main markets in Europe and Asia, aim to deliver digital solutions to improve the performance and visibility of its clients.The FASTBOOKING team will assist Accor in expanding the range of services provided to its portfolio of 3,700 hotels around the world.Source = ETB Travel News: Brittney Levinsonlast_img read more

FILE This April 12 2018 file photo shows Britn

first_img FILE – This April 12, 2018, file photo shows Britney Spears at the 29th annual GLAAD Media Awards in Beverly Hills, Calif. A Los Angeles judge will consider whether to extend a temporary restraining order Tuesday, May 28, 2019, that keeps Sam Lutfi, a former associate of Spears, away from her and her family. (Photo by Chris Pizzello/Invision/AP, File) Britney Spears family seeks renewed order barring ex-friend LOS ANGELES — A Los Angeles judge will consider whether to extend a temporary restraining order Tuesday that keeps a former associate of Britney Spears away from her and her family.Sam Lutfi, 44, a onetime Spears confidante who has said he once acted as the pop star’s manager, was ordered on May 8 to stay at least 200 yards (183 metres) from Spears, her parents and her two sons, and to refrain from contacting or disparaging them. The order could be extended on Tuesday afternoon. Spears, 37, is unlikely to appear.Lutfi was a major presence in Spears’ life at the height of her fame, leading up to her public meltdown in 2008.The petition Spears’ attorneys filed for the order alleged Lutfi had been sending harassing and threatening texts to Spears’ family and disparaging them on social media.Lutfi’s attorney Marc Gans said the restraining order if overly broad and violates his client’s civil rights. Gans said he and Lutfi looked forward to fighting the order at the hearing.It’s the second time the family has received a restraining order against Lutfi, who has been in legal battles with them for a decade. He sued them in 2009, alleging Britney Spears had breached a contract with him, her father punched him and her mother defamed him in a memoir. The suit was settled in 2016.The petition for the latest restraining order alleged that Lutfi’s “unjustified interference in her life” threatens Spears’ “safety and well-being” and have caused her “severe mental trauma” at a time when stress and the poor health of her father have prompted her to put her career on hold indefinitely.It also alleges that Lutfi has sought to undermine the conservatorship that for 11 years has kept her affairs almost entirely under the control of her father.The status means a judge is unlikely to require Spears to appear at Tuesday’s hearing.Conservatorships, known in many states as guardianships, are normally reserved for people with conditions far more severe than Spears, including those with dementia or in a coma.But judges have allowed the arrangement to remain in place far longer than was expected when it was first imposed at a moment of crisis for Spears.There have been signs the arrangement may change.Spears made a rare appearance earlier this month at a status hearing on the conservatorship in a Los Angeles courtroom, along with father Jamie and mother Lynne. The courtroom was cleared and only those involved know what the three said, but a judge subsequently ordered an examination of the circumstances by a court official.Jamie Spears, who has reportedly been in poor health though no specifics have been made public, earlier this week notified the court that he is seeking to extend the conservatorship from California to Louisiana, Hawaii and Florida.___Follow AP Entertainment Writer Andrew Dalton on Twitter: https://twitter.com/andyjamesdalton .Andrew Dalton, The Associated Press by Andrew Dalton, The Associated Press Posted May 27, 2019 10:01 pm PDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Emaillast_img read more

Mafuru stood idle when FBME clients secured UK garnishment orders

first_imgThe reluctance of Lawrence Mafuru, the statutory manager appointed by Tanzanian authorities at FBME Bank, to cooperate with the administrator of the bank’s Cyprus branch puts the bank’s assets at risk and results in “significant” and unnecessary legal fees, says a document obtained by the Cyprus Business Mail.When on August 19, 2015 a group of depositors at the Cyprus branch of FBME resorted to an English court seeking the immediate repayment of almost $201.2m (€188.6m) in funds deposited at the bank’s branch in Cyprus, Mafuru remained idle, the report prepared by Meenaa Azmayesh, a London-based associate of Dentons, a global law firm. It was only mere chance that the Cypriot special administrator received information about the proceedings allowing him to initiate legal action to successfully set aside previously issued court orders 11 months later.Mafuru neither bothered to challenge the proceedings issued by the claimants that included Cinque Ports Trading Limited, Modena Corporate Services Limited, Saunders & Fyffe Corp., and Clifton Conroy Associates Limited against FBME nor to inform the special administrator appointed by the Central Bank of Cyprus about the development, even though he had been informed about the development days later, according to the report.“The claimants served the proceedings on FBME in Tanzania on 27 August 2015,” the report seen by the Cyprus Business Mail said. “The proceedings were not served on or notified to the special administrator or the Cypriot branch of FBME, either by the claimants or by Mafuru. Unfortunately, Mafuru ignored the proceedings and as a result of Mafuru’s inaction the claimants obtained default judgment on 2 October 2015”.After the claimants secured on October 14, 2015, European enforcement order certificates and 16 days later, they presented preliminary garnishment and transfer of claims orders against the correspondent banks holding the funds on behalf of FBME, the special administrator in Cyprus who was unaware of these developments, only found out when Commerzbank, one of the correspondent banks involved, sent him a notice, the report said.“The proceedings were first brought to the attention of the special administrator on November 2, 2015 by Commerzbank,” the report said adding that this prompted special administrator at the time, Andrew Andronikou, to contact Mafuru requesting information and ascertain FBME’s position.Andronikou received no “satisfactory responses,” the report said.Only then, the special administrator could take legal action –which Mafuru decided to join–, the report said. The joint application was heard in July 2016.“The English High Court stated that it was ‘…surprising and probably commercially unwise’ for the claimants not to have served –or at least given notice to– the bank’s branch in Cyprus,” Azmayesh said in her report.“Following service on the bank in Tanzania ‘nothing happened,’ she said citing the High Court. “It is clear that Mafuru’s failure to act resulted in the claimants obtaining default judgments against FBME. Following a hard-fought English High Court hearing, the default judgments were set aside. However, it seems likely that, had it not been for Commerzbank contacting the special administrator and notifying him of the proceedings, it would have been too late in the day to deal with this matter successfully”.“Mafuru’s failure to respond promptly to the proceedings in Tanzania placed substantial assets of FBME at risk and the significant legal costs incurred in salvaging the position have yet to be recovered,” the report said.In July 2014, the Central Bank of Cyprus placed the Cyprus branch of FBME under administration and later under resolution, after US authorities described as a “financial institution of primary money laundering concern” with links to the Lebanese group Hezbollah deemed as a terrorist organisation also in the EU and barred it from opening or maintaining correspondent accounts with US banks in July 2014. In December 2015, the central bank fined FBME €1.2m for failing to comply with the provisions of the anti-money laundering and terrorist financing and revoked the licence of its Cyprus branch.The central bank, which a year ago triggered the deposits guarantee scheme, is currently seeking to appoint a liquidator at FBME, whose shareholders deny the allegations and resorted to the Paris-based arbitration court of the International Chamber of Commerce seeking €500m in compensation.The Cyprus Business Mail is not suggesting that any of the above mentioned FBME depositors were involved in any sort of illegal activity.On March 30, Chris Iacovides whom the Central Bank of Cyprus appointed as special administrator at the Cyprus branch of FBME said on March 30 that Mafuru acts with “ulterior motives”. The Tanzanian official did not respond to repeated requests for comment.You May LikeTruthFinder People Search SubscriptionOne Thing All Liars Have in Common, Brace YourselfTruthFinder People Search SubscriptionUndoFigLeaf Beta AppGet Maximum Privacy with Minimum EffortFigLeaf Beta AppUndoUltimate Pet Nutrition Pet SupplementsAging Cat? Help Them Thrive By Doing This One ThingUltimate Pet Nutrition Pet SupplementsUndo Concern over falling tourism numbersUndoTurkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoTwo arrested in connection with attempted murderUndoby Taboolaby Taboolalast_img read more

EU sanctions against Turkey within expectations government source says

first_imgThe proposed measures against Turkey over its actions in Cyprus’ exclusive economic zone (EEZ) are within expectations, a government source was quoted as saying on Wednesday.“Our aim is to announce and enforce measures as soon as possible,” the unnamed source told the Cyprus News Agency, although there was no timeframe.It emerged on Tuesday, that the EU will cut its pre-accession assistance to Turkey by €145.8m next year and there will also be a re-evaluation of the European Investment Bank’s activities in the country, as well as a suspension of meetings with top EU officials.It is also expected that the European Commission will declare its readiness to impose targeted measures against companies and persons related to Turkey’s drilling activities should member-states deem such action necessary.The full list of measures agreed by the Commission and the European External Action Service (EEAS) will be presented to EU member-states representatives later Wednesday.The government source said they did not expect that the measures would put at risk a 2016 agreement between EU and Turkey on migration.Nicosia expressed satisfaction over the measures since there was room for stricter sanctions in the future, in light of escalating Turkish actions in the Cypriot EEZ.Final decisions regarding which measures will be taken and which not will be made by EU foreign ministers next week.  You May LikeCalifornia Earthquake AuthorityWe protect our home with earthquake insuranceCalifornia Earthquake AuthorityUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndo Pensioner dies after crash on Paphos-Polis roadUndoAuthorities release five of 12 Israeli rape suspects, seven due in court FridayUndoArgaka mukhtar stops conservationists againUndoby Taboolaby Taboolalast_img read more

 

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officials expected

officials expected only 40 to 50 people. What happens next?

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CCCC has an early c

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