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The ruling came on the final day of the Supreme Court's term that began in October. At issue in the case was whether Corner Post was too late when it brought its legal challenge. A group of small business associations had filed a brief urging the Supreme Court to maintain a strict statute of limitations that begins at the time a regulation is finalized. The Supreme Court in 2015 left in place a lower court's ruling backing the regulation. Circuit Court of Appeals upheld Traynor's decision, setting up the Supreme Court appeal.

Persons: Dado Ruvic, Charles Koch's, Joe Biden's, Dodd, Frank Wall, Daniel Traynor, Traynor's, John Kruzel, Will Dunham Organizations: REUTERS, Companies, Mastercard, WASHINGTON, U.S, Supreme, Federal, U.S . Chamber of Commerce, Federal Reserve, of Governors, District, Circuit, Fed, Thomson Locations: North Dakota, Watford City, Corner, St, Louis

☆ Regulator imposes trading halt on Canada hedge fund after founder's death
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The regulator said it was informed on Saturday that Christopher Callahan, the sole director, officer and shareholder of Traynor, was dead. His death leaves Traynor without a director or officer in charge of the firm. "As a result, the three dealers have potential losses totalling approximately C$85 million ($61.27 million) to C$95 million," the regulator added, without naming the dealers. The firm and one of Callahan's colleagues listed on its website did not immediately respond to requests for comment. A Toronto police spokesperson said Callahan's death was not considered suspicious and they were not investigating.

Persons: Traynor, Christopher Callahan, Nia Williams, Jamie Freed Organizations: The Ontario Securities Commission, Inc, OSC, CIBC, Markets Inc, Canadian Imperial Bank of Commerce, TR1, Thomson Locations: Toronto, British Columbia

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

☆ Shares of these 2 global stocks could soar over 30% as bankruptcies begin to rise, analysts say
▼ + stars: | 2023-08-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Company insolvencies are on the rise in Britain , and analysts are expecting two U.K.-based consultancies to be major beneficiaries. Earlier in the month, Begbies Traynor beat its rival and delivered a double-digit annual growth rate. Begbies Traynor Analysts expect Begbies Traynor's core insolvency division to benefit from rising U.K. insolvencies as economic conditions worsen. BEG-GB FRP-GB YTD line Analysts at Canaccord Genuity and Stifel echoed that view, saying that Begbies Traynor is strongly positioned, with over 80% of revenue derived from counter-cyclical insolvency services. The bank raised its forecasts for the firm's earnings for the rest of the year and expects FRP's stock to rise by 47% to £1.75.

Persons: Begbies Traynor, FRP, —, James Bayliss, Bayliss, Stifel, Sam Dindol, Berenberg Organizations: Bank of England, FRP, FRP Advisory Locations: Britain, United States, Canaccord

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