Justice Department takes aim at cleanup holes in FirstEnergy restructuring plan

first_img FacebookTwitterLinkedInEmailPrint分享The Plain Dealer:The U.S. Department of Justice fired a warning shot this week across the bow of FirstEnergy Solutions and its path toward restructuring itself free of past debt and other obligations. The warning did not leave out parent company FirstEnergy, which negotiated a deal with FES and creditors last summer and has since insisted it has no financial responsibility for FES and its many problems.The federal and state authorities don’t agree with that and filed an objection in bankruptcy court making sure the companies, its creditors, and the court understand that. In an eight-page court brief, lawyers for the Justice Department and Ohio and Pennsylvania attorneys general noted that they believe FirstEnergy has “significant independent liability.” They added that FES itself is also on the hook to pay for cleanup left behind by coal power plants and the long-term decommissioning cost of its nuclear plants.“The Non-Debtor Affiliates (FirstEnergy) have numerous liabilities to the Governments under environmental laws for their ownership and/or operation of (and/or disposal at) some of the same facilities for decades even before the Debtors [FES] became the owners/operators,” they argue.The brief reads that FES has for months repeatedly put off negotiating its liabilities for cleaning up power plant environmental damage while simultaneously cutting deals with its creditors and winning extra time from the court to independently restructure itself, free of past debt.“Counsel requested that the Governments be included early on in the negotiations [with creditors] and not be the only ones left out and then presented with a fait accompli that everybody else had negotiated,” the attorneys wrote.Yet, in the latest request to the court for a third time extension to continue to develop its restructuring plan without having to deal with competing plans, FES made no mention of its obligations to deal with the government, the brief to the court said. The FES request for a third extension of time was “silent with respect to the Governments’ concerns and makes no provision for any allocation or trust relating to environmental liabilities,” the government noted.More: Justice Department, Ohio AG warn FirstEnergy Solutions and FirstEnergy on environmental obligations Justice Department takes aim at cleanup holes in FirstEnergy restructuring planlast_img read more

NAFCU’s cybersecurity resources help CUs navigate changing times

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Last week, Equifax reached a settlement for their massive data breach that affected an estimated 147 million Americans. The company has agreed to pay $700 million for claims tied to the breach, but the topics of data and cybersecurity remain unsettled overall. Institutions, including credit unions, must continue to ensure the safety of their members’ data on an ongoing basis, as threats remain prevalent.NAFCU has long been active with lawmakers on the issues of data and cybersecurity. In 2013, the association’s advocacy efforts approached the massive 2013 Target data breach head-on, calling for a legislative solution to reform the nation’s data security system. And earlier this year, NAFCU’s Executive Vice President of Government Affairs and General Counsel Carrie Hunt reiterated the association’s call for a national data security standard for entities that collect and store consumers’ personal and financial information ahead of a hearing to examine ways to improve the credit reporting system.NAFCU is also engaged with the Financial Services Sector Coordinating Council (FSSCC), which brings together private and public stakeholders to develop critical infrastructure strategies and initiatives. Last week, NAFCU’s Senior Counsel for Research and Policy, Andrew Morris, attended a joint meeting with the FSSCC and the Financial and Banking Infrastructure Committee. The meeting included discussion of a potential framework for promoting sector-specific operational resilience, insights regarding global cybersecurity threats, and potential approaches for enhancing supply chain transparency.last_img read more

Bargain buys: Where you can bag a home for a big discount

first_img8. 33-47 Bow St Waterford $670,000 $539,000 $131,000 This house at 11 Glenfield St, West End, is being sold as a deceased estate.In the same suburb and in arguably one of Brisbane’s best streets, a six-bedroom house has had its price reduced at 46 Whynot Street.The home, which is in the highly sought-after Brisbane State High School catchment, is on the market for $1.75 million, after having previously been advertised for offers over $1.895 million.On Brisbane’s bayside, five remaining apartments in a new development with stunning ocean views in Wynnum are set to be sold at a clearance auction in June.The architecturally designed, two and three bedroom apartments at 32 Glenora Street offer views of Moreton Bay and access to a private pool and entertaining courtyard. 7. 603/99 Marine Pde Redcliffe $1.15m $1m $150,000 2. 2 Triton St Tangalooma $850,000 $650,000 $200,000 This house at 183 Hale St, Petrie Terrace, is for sale at a reduced price. (Source: SQM Research) 3. 11/100 Macquarie St St Lucia $1.55m $1.350,000 $200,000 This townhouse at 2/7 Bradley Ave, Kedron, has its price reduced.Marketing agent Alex Rutherford of Place – said the property had been on the market for six weeks, but would have sold within two weeks this time last year.“We’re scratching our heads — it’s such a great opportunity for someone,” Ms Rutherford said.“I think it’s a lot to do with the uncertainty of the election, which is causing people not to transact, even though they’re liking properties.”Ms Rutherford said it was the perfect time for buyers to pounce because there was more choice and vendors were more flexible.“End of financial year is looming and if buyers have their finance in order and are ready to settle earlier, they may get a reasonable discount,” she said.“What will happen I think after the election is that there will be a lot more buyers in the market and properties will be snapped up quickly and people will miss out on the opportunities they have now.”A four-bedroom character home, just minutes from the CBD in Petrie Terrace, has had its price reduced for quick sale. MORE: ‘Worst house I’ve ever seen’ 6. 38 High St Toowong $599,995 $449,995 $150,000 This apartment at 603/99 Marine Pde, Redcliffe, has had its price reduced by $150,000.Death, divorce and desperate vendors are some of the reasons for the number of discounted listings, according to SQM Research, with about 24,000 of the 330,000 properties on the market nationally classified as ‘distressed’.SQM Research managing director Louis Christopher said that despite the uncertainty in the market, it was a good time for would-be buyers to do their homework and see what value was on offer.“It is a good time to research the market, to do the property inspections and look at what’s happening on the ground in terms of listings and sales to get a good sense of where the market is locally, which will help when it comes decision time to buy,” Mr Christopher said.“There are risks and there are opportunities.” This house at 66 Delaney Circuit, Carindale, is being sold as ‘mortgagee in possession’. This house at 66 Delaney Circuit, Carindale, is being sold as ‘mortgagee in possession’.A deceased estate on the riverfront in West End has hit the market without a price guide.The two storey home on 702 sqm at 11 Glenfield Street has five bedrooms, three bathrooms, a pool and incredible views across the Brisbane River. This apartment at 32 Glenora St, Wynnum, is one of five that will be offered at a clearance auction next month. 9. 2/24 Wilton Tce Yeronga $785,000 $665,000 $120,000 The view from an apartment at 38 High St, Toowong, which has had its price slashed.Most would-be property buyers have heard of the typical private treaty sale or auction, but there is also the clearance auction, the deceased estate sale, the court order sale and the mortgagee possession.And buyers don’t have to settle for a hovel — many of the homes that have been heavily discounted in Brisbane right now are in perfect condition and in sought-after locations.The properties range from an inner-city character cottage to a six-bedroom stunner.According to property researcher, CoreLogic, just over 67 per cent of homes in Queensland sold at a discount to their original listed price over the past three months.And CoreLogic research analyst Cameron Kusher said that number was likely to increase, which is good news for buyers. “With the national housing market continuing to see value declines, it is expected that over the coming period relatively few properties will be selling at a price above the original list price,” Mr Kusher said. 10. 105 Victoria Ave Margate $648,000 $539,000 $109,000 4. 35 Queen St Goodna $2.499m $2.3m $199,000 This apartment at 32 Glenora St, Wynnum, is one of five that will be offered at a clearance auction next month.On the northside, a four-bedroom house has sold prior to auction after being advertised as “under court instruction to sell”.The property on 675 sqm at 20 Violet St, Everton Hills, was due to go under the hammer today, offering the buyer the chance to renovate or detonate. Michelle Dodds and her daughter, Olivia, in the Kedron townhouse she is selling at a reduced price. Picture: AAP/David Clark.HOME hunters searching for a bargain could save hundreds of thousands of dollars if they widen their search for a property beyond the traditional means — but they have to act fast.Uncertainty around the federal election and a tight lending environment have prompted vendors to slash asking prices, and industry experts say now is the time to negotiate a better deal.Data provided exclusively to The Courier-Mail by independent property analyst SQM Research has revealed the 10 properties in southeast Queensland currently for sale with the biggest reductions to their original listed prices, revealing savings of up to $200,000. 5. Lot 15 Briscoe Rd Dayboro $1.155m $990,000 $165,000 This house at 20 Violet St, Everton Hills, has sold prior to auction after being advertised as “under court instruction to sell”.10 MOST DISCOUNTED HOMES ON THE MARKET Address Suburb First Price Current Price Discount1. 2 Limmen St Pimpama $850,000 $650,000 $200,000 Inside the house at 183 Hale St, Petrie Terrace.The property at 183 Hale Street is now available for $770,000 negotiable.Marketing agent Nicholas Hall of Ray White – Paddington said its position near the Inner City Bypass was putting some potential homeowners off, but it would be perfect for an investor.“It got a good yield return, good capital growth and its proximity to everything is fantastic,” Mr Hall said. A five-bedroom house in popular Tarragindi is advertised as “court order … must be sold”.The immaculate, two-level home on an elevated, 637 sqm landscaped block is on the market for $920,000 negotiable — down from $950,000 in February, and $1.1 million prior to that. This house at 11 Glenfield St, West End, is being sold as a deceased estate. This property at 28 Andrew Ave, Tarragindi, is on sale for $920,000.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoAn impressive family home in Carindale is being sold as ‘Mortgagee in possession’ for $1.2 million.The house at 66 Delaney Circuit is on a large 768 sqm block and has four bedrooms, three bathrooms and a pool. Brisbane couple Michelle and Geoff Dodds are selling their three-bedroom townhouse in Kedron for the reduced price of $515,000.The property at 2/7 Bradley Avenue had previously been listed for offers above $535,000.Mrs Dodds said they had outgrown the property since having their daughter, Olivia, but it had been the perfect first home and she could not understand why it had not sold yet.“It was just a really nice, low maintenance, easy to look after little house that did us really well for five years,” Mrs Dodds said. RELATED: Buyer bags a bargain in blue chip suburb SQM Research managing director Louis Christopher. This house at 2 Limmen St, Pimpama, has had its price reduced by a whopping $200,000.THE BRISBANE SUBURBS WITH THE BIGGEST VENDOR DISCOUNTSSuburb Median vendor discount (12 mths) Median house priceGreenslopes -7.8% $725,000 Sunnybank -7.4% $835,000Rocklea -7.2% $400,000Mount Gravatt -6.7% $645,000Windsor -6.6% $840,000Belmont -6.6% $690,000Gaythorne -6.5% $637,000Westlake -6.2% $740,000Indooroopilly -6.2% $870,000Holland Park West -6.1% $694,250(Source: CoreLogic)last_img read more

Former health minister to be laid to rest on Saturday

first_imgDominica’s former health minister John Fabien will be given an official funeral at Grand Bay Catholic Church on Saturday.John, who was a former permanent secretary in the Ministry of Health, former parliamentary representative for the Grand Bay constituency and an Environmental Health Specialist, succumbed to his illness at the Princess Margaret Hospital on June 22, 2012.He has been described by some of his former colleagues at the Ministry of Health as a one who was interested in people’s development and a pioneer of the primary health care system.Prime Minister Roosevelt Skerrit who announced that John will be given an official funeral, described him as a dedicated person who dedicated his life to the advancement of health in Dominica.“We look forward to a very respectful send off for someone who gave his entire working life to the advancement and development of Dominica,” the Prime Minister said. The Ministry of Health also extended a message of condolence to the Fabien family in their time of bereavement. The funeral service will commence at 3pm.Dominica Vibes News 30 Views   no discussions LocalNews Former health minister to be laid to rest on Saturday by: – July 6, 2012 Share Tweetcenter_img Sharing is caring! Share Sharelast_img read more

Phelps overjoyed to announce new baby

first_imgAmerican swimming superstar Michael Phelps described himself as the “happiest man in the world” following the birth of his second child.FEATURED STORIESSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folk View comments The ecstatic parents announced in August they were expecting their second child to compliment Boomer, who was born in 2016.Phelps retired after the 2016 Summer Olympics in Rio de Janeiro as the most decorated Olympian ever, winning 28 Olympics medals.Last month, Phelps spoke at a mental health conference in Chicago where he talked openly about his almost life-long battle with depression and anxiety and is encouraging others to get help like he did.Phelps also said he wants to eliminate the stigma associated with mental illness.ADVERTISEMENT Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Don’t miss out on the latest news and information. OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson “Magical moments yesterday,” Phelps wrote on Instagram. “Nicole and I would like to introduce Beckett Richard Phelps to the world! We had a healthy baby boy and a healthy mama. I truly do feel like the happiest man in the world. Being able to build our family to now four (six with doggies) is so incredible!” MOST READ Nonito Donaire vs Naoya Inoue is BWAA 2019 Fight of the Year OSG plea to revoke ABS-CBN franchise ’a duplicitous move’ – Lacson LATEST STORIEScenter_img Khris Middleton helps Bucks pull out sluggish win over Hawks Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Sports Related Videospowered by AdSparcRead Next Phelps, 32, and his wife, Nicole, announced on Tuesday night the birth of Beckett Phelps, saying he was born on Monday.ADVERTISEMENT Steam emission over Taal’s main crater ‘steady’ for past 24 hours Michael Porter Jr. stays patient as playing time increases Jiro Manio arrested for stabbing man in Marikina Newsome sets focus on helping Bolts open new PBA season on right track Almazan vows to comeback stronger after finals heartbreaklast_img read more