Reference no: EM131426091
In 2005, Fir Tree Capital Opportunity Master Fund, LP and Fir Tree Value Master Fund, LP (the Funds) purchased $200 million in notes from Anglo Irish Bank Corporation Limited (the Bank) pursuant to a note purchase agreement (NPA). The NPA provided that the notes were payable in New York and that New York law governed. The Bank was incorporated under the laws of the Republic of Ireland.
In an effort to stabilize the nation's banking system and prevent the nation's collapse after the 2008 financial crisis, the Irish government nationalized the Bank in January 2009, thereby becoming its sole owner. The Republic of Ireland did not, however, become a party to the NPA. After nationalization, the Bank started liquidating its assets at discounts of 54% to 66%. In December 2009, the Irish government enacted a law that allowed the Bank to sell qualifying illiquid loans to a government-created body and, in exchange, receive liquid securities guaranteed by the Irish government. During 2010, the Irish government purchased 34 billion in nonperforming loans from the Bank for 13 billion in the government securities. In 2010, the Irish government enacted another law enabling the High Court of Ireland to order the Bank to sell certain of its deposits and assets and begin a plan to merge with another bank (INBS). The Bank then sold 12.2 billion of the securities at a discount to yet another bank.
The Funds sued in New York, alleging that these actions caused the Bank to breach certain provisions of the NPA. The Funds sought a preliminary injunction enjoining the Bank from merging and disposing of its assets, requiring the Bank to leave $200 million in the United States, and appointing a receiver to take charge of the Bank's U.S.-based assets. The Bank moved to dismiss the suit, arguing that the Foreign Sovereign Immunities Act (FSIA) provided it with immunity. The Funds argued that the commercial activity exception to immunity applied. Should the suit be dismissed? Is there anything the Funds could have done to protect themselves against nationalization by the Irish government? [Fir Tree Capital Opportunity Master Fund, LP v. Anglo Irish Bank Corp. Ltd., 2011 WL 6187077 (S.D.N.Y. Nov. 28, 2011).
|
What is the stock beta coefficient
: A stock has a required return of 12%. The risk-free rate is 6% and the market risk premium is 5%. What is the stock's beta coefficient?
|
|
Describe the issues the cartoon raises
: HIS206 (HIR1709E)- Describe the symbols and actions the artist employs in the cartoon. Describe issues cartoon raises. Analyze what cartoon says about the consequences of the Spanish American War for countries occupied.
|
|
Identifying the initial change and describing it
: After identifying the initial change and describing it, create a list of three additional outcomes in Mila's development across the lifespan that will likely be affected by this change
|
|
Outline the informed consent requirements
: Outline the informed consent requirements. What is the responsibility of the allied health professional with regard to informed consent forms and the process of obtaining informed consent?
|
|
Lp and fir tree value master fund
: In 2005, Fir Tree Capital Opportunity Master Fund, LP and Fir Tree Value Master Fund, LP (the Funds) purchased $200 million in notes from Anglo Irish Bank Corporation Limited (the Bank) pursuant to a note purchase agreement (NPA). The NPA provided..
|
|
What technique will be used for data collection
: How will you measure each variable? Discuss the reliability and validity of these measures in general terms. What technique will be used for data collection (e.g., observation, survey, interview, archival, etc.)? What type of research design is being..
|
|
Write about the drug enforcement administration
: Intelligence Community: Please write about the Drug Enforcement Administration. Describe their mission, organization and capabilities.
|
|
Find the mean and variance and standard deviation
: Suppose three different uses are randomly selected. Find the probability that the temperature settings for all three are at least 400°F.
|
|
Compare the health care system of bangladesh
: Compare the health care system of Bangladesh with that of the United States. Contrast and highlight the major differences in detail. (focus should be on the role the gov't of Bangladesh plays)
|