Investors in Global A&T Electronics, including private equity firms Blackstone Group and Farallon Capital Management, has filed a class suit against the company, seeking the reversal of a $500 million debt swap deal.
Bitcoin is an experimental, decentralized digital currency, which has enabled instant payment anywhere in the world. While still not fully legitimized by many governments, financial analysts continue to debate whether it represents the wave of the future, or a huge dud. The bitcoin essentially uses "peer-to-peer technology to operate with no central authority," and provides a substitute to paypal or to credit cards. Its encryption code, which substitutes paying by credit, eliminates the hassles of banks serving as the middle men.
Presiding Judge Carola Wittig said that the hedge funds investors of Porsche Automobil Holding SE failed to convince the German court regarding seeking remuneration over the automaker's unannounced takeover of Volkswagen AG.
Department of City Planning general counsel David Karnovsky will be looking forward to a new career at top law firm Fried Frank Harris Shriver & Jacobson after working in the city government in the last 15 years.
