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...home of 10 years, Flores filed for Chapter 13 bankruptcy - a reorganization filing under which consumers agree to a plan to make payments of past-due debts to creditors for a three- to five-year period. But now he is behind on his payments again, and Wells Fargo Bank wants to restart foreclosure proceedings. (See the best business deals...
...substantial number of cases before Bowie involve a financial institution asking the court for relief from stay, so they can pursue foreclosure against borrowers like Flores. Lenders represented in the courtroom include JPMorgan Chase Bank, Bank of America, Deutsche Bank Trust, Wells Fargo Bank, US Bank and GMAC Mortgage. When a Chapter 13 bankruptcy is ordered and confirmed, lenders must cease any foreclosure proceedings and the delinquent homeowner must begin making regular mortgage payments. But if the debtor cannot keep up the payments, "sooner or later the court drops the bomb," says attorney James Beshears...
...trade moving from Dubai to Iran - trade between the two countries was worth $12 billion last year, most of it imports into Iran - makes it easier to camouflage illicit items. About 400,000 Iranians live in Dubai, and about 8,000 Iranian companies are registered there, including two major banks, Bank Melli Iran and Bank Saderat Iran, both of which are currently under U.S. sanctions on the allegation that they're funding Iran's nuclear program...
While Iranian banks in Dubai might extend credit to Iranians living there, Masoumzadeh says that credit is often rejected by clients. "Iranian bank letters of credit are not accepted by suppliers in Europe and the Far East." However, he says, much of the trade can now go directly from Asian suppliers to Iran's Bandar Abbas port, without passing through Dubai at all. Iran's government-owned Islamic Republic of Iran Shipping Lines, or IRISL, has a fleet of vessels that go directly to Iran's ports from cities around China and Korea, as well as the Netherlands, Germany...
...decision to go to Washington will make the U.S. less inclined to adopt a confrontational stance on China's currency policy. "If April 15 comes and goes without a report, I don't think I'd be surprised," says Stephen Green, head of China research at Standard Chartered Bank in Shanghai. During their phone conversation Thursday, Hu told Obama that "healthy and stable economic and trade relations between China and the United States serve the interests of both countries," according to the state-run Xinhua News Agency. The report didn't say whether the two leaders had discussed China...