Citibank, Indian banks are sued on limits in sale of bond issue
Article Abstract:
A New York financial planner, Leonard Schoenfeld, is suing Citibank and 2 Indian banks, claiming they illegally restricted U.S. sales of a massive Indian gov't. bond issue to only people of Indian descent. The suit claims the banks offered access to Indian Resurgent Bonds, refusing to sell to any person of non-Indian ancestry who wanted to purchase and invest in them. Schoenfeld's attorney claims that the banks, by selling the bonds, are violating state and federal anti-discrimination laws. Schoenfeld is claiming damages of $387.5 mil and an additional $100 mil in punitive damages.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Meditrust examines alternative forms as its shares sag
Article Abstract:
Meditrust Cos. announced that it is looking into alternative structures, but that it also wanted to confirm its commitment to its traditional dividend policy. The company's stock has been hurt by recent changes in legislation. Meditrust, along with several other firms, has a special "paired share" REIT structure. This enables it to run businesses and to avoid the large share of corporate income taxes.
Comment:
Looking into alternative structures, but confirms commitment to its traditional dividend policy
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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