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.

Commercial Banks, Commercial Banking, Government regulation (cont), Citibank N.A. (New York, New York)

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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

Financial management, Real Estate Invest Trusts, Real Estate Investment Trusts, Meditrust Cos.

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