Mr. McMahon also disclosed for the first time that the Osprey debt was backed by 50 million shares of Enron common stock and that the company had an additional obligation to issue more shares if the assets held in Osprey and the common shares were insufficient to repay the debtholders in 2003.
David J. Sheehan, the lawyer for Mr. Picard, had his own difficult moments as he navigated questions about whether cash advances from SIPC could be paid to net winners even if they could not share in the assets recovered by the trustee.
PHOENIX INVESTMENT PARTNERS LTD., Hartford, said it had accepted a $296 million offer from Phoenix Home Life Mutual Insurance Co., Hartford, to buy the shares in the asset manager that it did not already own.
And the currency they will use to bid will be their existing UES shares, which will be swapped for the shares in the assets.
While the spirit of the global mutual fund revolution is unquestionably American, forward-thinking non-American fund houses will certainly share in the new assets harvested.
But Wall Street strategists have tried to build assessments of terrorism into their stock market forecasts, even though there is some disagreement on whether the possibility of terrorism has been adequately reflected in share prices and in the asset allocations of investors.
A lower court ruled that his wife was entitled to her share of the assets held in a Bermuda trust.
If the four benefit from their share of the assets left in MGR Capital, it will swell the bounty from their association with MG Rover to £50m, although they dispute this figure.
In 2007 Dow's share of the asset-light joint ventures' revenues was $2.6 billion, equivalent to 5% of the company's own revenues of $53.5 billion.
While he was at it, he asked for more money and for a mechanism to get Uncle Sam to take on the risk of some of his company's worst assets while letting A.I.G. share in the profits if those assets should prove to be valuable.
Of course, G.E. may earn 42 cents a share in the quarter even before the asset sale is thrown into the mix.
