Appeals Court Backs EPT Concord in Concord Associates Agreement Case

A United States appeals court ruled in support of resort operator EPR Resorts, previously known as EPT Concord. The organization is in charge of the construction and procedure associated with Montreign Resort into the Adelaar area in nyc that will host the Montreign Casino. The court ruling had been against real estate designer Louis Cappelli and Concord Associates.

Back in 1999, the designer’s Concord Associates bought a site that is 1,600-acre to construct a casino resort. In 2007, the entity needed money of $162 million, which it borrowed through the former EPT. So that you can secure its loan, it utilized vast majority of its home as security.

Although Concord Associates failed to repay its loan, it could proceed along with its policy for the launch of the casino but for a smaller piece regarding the formerly purchased site. Yet, it had to fund its development in the form of a master credit agreement, under which any construction loan needs been fully guaranteed by Mr. Cappelli himself.

Concord Associates failed in this, too, as well as in 2011 proposed to issue a bond that is high-yield $395 million. EPT declined and Concord Associates brought the problem to court arguing that their proposal complied with all the contract between the two entities.

EPT, having said that, introduced its own plans for the establishment of a casino resort. The gambling center is to be run by gambling operator Emp Read more

Canadian Hospital Lotteries Called ‘Harmful’ By Expert

Hospital-sponsored lotteries seem just like a win-win, but will they be? One expert says ‘no.’

Numerous hospitals that are canadian lotteries that are utilized as fundraisers. Prizes ranging from large cash benefits to estate that is real cars are given away to fortunate winners, while the proceeds are acclimatized to offer the medical operations at the hospitals.

For many, this seems such as for instance a win-win proposition. But at least one big title in the Canadian medical industry thinks that these lotteries could possibly be a lot more dangerous than people assume.

Healthcare Journal Editor Speaks Out

Into the many issue that is recent of Canadian Medical Association Journal, editor-in-chief Dr. John Fletcher penned an editorial stating that hospitals choosing to perform these lotteries should take the time to ensure they truly are protecting players whom are at risk for problem gambling if they want to reside up to their social obligations.

‘It is contradictory for legislation to ban hospitals from selling one potentially harmful, but legal, addictive product on the premises tobacco while allowing them to actively promote another lotteries,’ wrote Dr. Fletcher. ‘Have we lost our moral compass to such an extent that people are blinded to the duty to ‘first do no harm’ by the attraction of easy revenue?’

Fletcher did make it clear that he was not advocating for a ban on medical center lotteries. After a Read more

Silk Road Founder Arrested While Bitcoins Plummet

Bitcoins have been in the news, between the closed down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.

It’s been a significant week for Bitcoins in the news; a whammy that is triple actually.

First, there was the arrest by the FBI of Silk Road’s founder known online only by his handle ‘Dread Pirate Roberts’, but evidently known to the feds a little more intimately as Ross William Ulbricht- plus the seizure and power down of this Silk Road site itself. Silk path was an exclusively Bitcoin site that is gambling well-known to many as an available market for illegal drugs and more; the site’s just below a million registered users were usually money launderers, according to the arrest warrant.

‘Based on my training and experience, Silk Road has emerged as the absolute most sophisticated and extensive marketplace that is criminal the web today,’ FBI Special Agent Christopher Tarbell noted in the complaint. Tarbell added that into the past 2 1/2 years, Silk path generated some $1.3 billion worth of equivalent Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as hiring hitmen, searching for computer hackers or buying weapons that are illegal.

Major Rate Volatility Ensues

Meanwhile only a few times following the shut down of the site by the feds and the arrest of Ulbricht Bitcoins themselves went through some Cat-5 volatility, if the rates for the Read more

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