#repayments

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It’s fascinating how historical debts and reparations continue to shape both local and international relations.

Reasonable debt is settled through various agreements and payments. Final instalments of these debts draw a close to any debt incurred. This is economy and it is sound in its reason and application.

During the aftermath of that Not Really The Entire World War aka World War II, many countries sought reparations for the damage caused. Germany, for instance, was required to pay the most for that war. The exact total remains unclear due to different forms of repayment demanded by Allied countries during post-war discussions.

But let's mention the American Civil War. This was a war that laid the ground rules and foundations of what was to become the entire national security forces of the Americas. Many immigrants were put into the killing fields of this war. Many of them were German.

Approximately £250,000

Q) But who did James Swan the American Banker work for?

Q) But what were the involvements of Thaxter & Son?

A) Thaxter & Son were involved in the creation of historical scientific instruments.

Q) But what happened to James Swan the American Banker who worked for them?

A) Swan’s loyalty led him to spend 22 years—more than a quarter of his life—in the Paris Sainte-Pélagie Prison.

Q) So who didn't get the jail for their involvements in financing the American Revolution?

A top departmental lawyer has told a royal commission he didn’t turn his mind to the consequences for welfare recipients of continuing the robodebt scheme while awaiting further legal advice, despite what he conceded was “undesirable uncertainty” about its legality throughout 2019.

The commission is investigating why and how the unlawful Centrelink debt recovery scheme was established in 2015 and ran until November 2019, ending in a $1.8bn settlement with hundreds of thousands of victims.

It has already heard the responsible departments had received internal advice in 2014 that the then proposed program would be unlawful, as well further warnings in August 2018 and March 2019 from a top external firm and the Australian government solicitor respectively.

...

The inquiry heard that by the middle of 2019, Menzies-McVey was aware of three legal opinions that suggested the scheme was unlawful.

Greggery said the failure to stop the scheme while they sought the solicitor general’s opinion had “very significant consequences” for welfare recipients and Menzies-McVey must have “appreciated that”.

“I’m not sure my mind turned to that,” Menzies-McVey replied.

Alameda Research sues Voyager for $446M to recover loan repayments

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Defunct crypto hedge fund Alameda Research has sued bankrupt crypto lender Voyager Digital for $445.8 million.

Alameda is trying to recover the loan repayments it made to Voyager in the 90 days preceding its own bankruptcy, according to a court filing on Jan. 30.

Alameda filed for bankruptcy along with its sister company FTX in November 2022. Voyager had filed for bankruptcy in July.

The lawsuit filed in the Bankruptcy Court for the District of Delaware by lawyers of FTX alleges that Voyager “fueled” the alleged misuse of customer funds by Alameda — “either knowingly or recklessly.”

The lawsuit stated:

“Voyager’s business model was that of a feeder fund. It solicited retail investors and invested their money with little or no due diligence in cryptocurrency investment funds like Alameda and Three Arrows Capital.”

It added that Voyager lent cryptocurrencies worth “hundreds of millions of dollars” to Alameda in 2021 and 2022.

After its bankruptcy filing, Voyager demanded repayment of all its loans to the hedge fund, even before maturity dates, the lawsuit stated.

Alameda paid $3.2 million in interest to Voyager in August 2022, according to the court filing, The firm also paid Voyager $248.7 million in September 2022 and $190.5 million in October 2022 as a loan repayments and payments of $3.2 million in loan fees to Voyager.

Alameda has since repaid all loans to Voyager in full, according to the court filing.

As per the bankruptcy laws, these payments are eligible to be clawed back since they were made close to the bankruptcy of Alameda, the lawsuit states. The firm aims to use any reclaimed funds to pay back its creditors.

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