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asuflyer
Topic Author
Posts: 542
Joined: Mon Jan 01, 2007 12:48 pm

New York Court investigating Etihad debt agreements

Sat Jun 27, 2020 1:04 pm

Etihad is being subpoenaed over documents related to the EY/AZ debt assumption agreement. They are being given until July 7th to respond.

https://www.reuters.com/article/us-etih ... SKBN23X1QX
 
Fliplot
Posts: 183
Joined: Wed Jul 31, 2019 2:23 pm

Re: New York Court investigating Etihad debt agreements

Sat Jun 27, 2020 10:12 pm

And what exactly has this to do with a NY Court? Meddling in others affairs while the city burns!
 
MIflyer12
Posts: 7790
Joined: Mon Feb 18, 2013 11:58 pm

Re: New York Court investigating Etihad debt agreements

Sat Jun 27, 2020 10:16 pm

Fliplot wrote:
And what exactly has this to do with a NY Court? Meddling in others affairs while the city burns!


It's a Federal court - with a long history of Wall Street prosecutions. You don't want people keeping investment markets clean and transparent?

U.S. District Court for the Southern District of New York
 
DDR
Posts: 1724
Joined: Sat Sep 28, 2013 11:09 pm

Re: New York Court investigating Etihad debt agreements

Sat Jun 27, 2020 10:40 pm

Fliplot wrote:
And what exactly has this to do with a NY Court? Meddling in others affairs while the city burns!


Wow, really? You do understand how finances work, yes? And LOL the city is not burning. You seem to be strong on drama but light on facts.
 
davidjohnson6
Posts: 809
Joined: Mon Jun 20, 2016 10:10 pm

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 5:03 am

I would really like to understand the structure of the EA Partners repeated borrowings of money - it's puzzled me as to how this all really works and seems more than a little obscure and overly complex to avoid transparency in what is really happening. I would guess that somebody somewhere is hiding behind legal technicalities that once exposed in public view might not look good

https://www.pionline.com/money-manageme ... detectives
 
Blerg
Posts: 3990
Joined: Tue Jan 09, 2018 11:42 am

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 5:23 am

Air Serbia was also part of this and the Serbian government said that they will have to re-negotiate the terms as they seem highly unfavorable. Seems like Etihad's incompetence has no bounds. Hogan might be gone but his mess is still very much with us.

https://www.exyuaviation.com/2020/06/ai ... tihad.html
 
Scotron12
Posts: 492
Joined: Fri Mar 01, 2019 2:13 pm

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 7:18 am

Not related, but the Italians are investigating the AZ management when EY was a major shareholder. All to do with fees EY collected plus the very expensive lease agreements on A330s that AZ paid EY during that time.

https://www.eturbonews.com/543213/alita ... -suspects/
 
User avatar
Phosphorus
Posts: 990
Joined: Tue May 16, 2017 11:38 am

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 7:38 am

As a point of order -- is any of the entities, named in Reuters article (except Fitch rating agency) actually domiciled in the US, to be subject to US court jurisdiction?
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Ceterum autem censeo, Moscovia esse delendam
 
evanb
Posts: 908
Joined: Thu Jan 07, 2016 3:26 pm

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 8:33 am

Phosphorus wrote:
As a point of order -- is any of the entities, named in Reuters article (except Fitch rating agency) actually domiciled in the US, to be subject to US court jurisdiction?


The bonds were marketed to US investors in the US. The moment you market financial securities in a country you come under their jurisdiction, independent of where the instruments are domiciled or held.
 
Boof02671
Posts: 1997
Joined: Sun Jul 10, 2016 12:15 am

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 10:36 am

The court isn’t investigating, that’s not its role. It’s a subpoena issued for a lawsuit requested by the plaintiff’s attorneys.
 
User avatar
LAX772LR
Posts: 13232
Joined: Sun Nov 09, 2014 11:06 pm

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 11:56 am

Fliplot wrote:
And what exactly has this to do with a NY Court? Meddling in others affairs while the city burns!

Wouldn't common sense suggest that you wait for the answer to sentence1, before issuing sentence 2?



evanb wrote:
The moment you market financial securities in a country you come under their jurisdiction

:checkmark:
I myself, suspect a more prosaic motive... ~Thranduil
 
INFINITI329
Posts: 2518
Joined: Mon Jul 02, 2012 12:53 am

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 6:18 pm

The title should be changed to "U.S. Federal Court" (U.S. District Court for the Southern District of New York). "New York court" implies state jurisdiction which is not the case.
 
User avatar
LAX772LR
Posts: 13232
Joined: Sun Nov 09, 2014 11:06 pm

Re: New York Court investigating Etihad debt agreements

Sun Jun 28, 2020 7:51 pm

INFINITI329 wrote:
The title should be changed to "U.S. Federal Court" (U.S. District Court for the Southern District of New York). "New York court" implies state jurisdiction which is not the case.

Yes and no.

It's technically federal jurisdiction; but keep in mind that while Federal courts follow federal procedural law, Federal courts also follow the substantive law (i.e. those dealing with statutes of limitations, burdens of proof, choice of law, defenses, etc) of the state in which they sit.

So the fact that this is the SDNY is indeed significant in itself.

That's also a reason why D.C. statehood is one of the most imbecilic proposals coming out of partisan politics nowadays.... but that's a topic for nonav. :(
I myself, suspect a more prosaic motive... ~Thranduil

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