Archive for the ‘Uncategorized’ Category

IoM Plans Clean Tech Promotional Tour

16 March 2012

The Isle of Man's Department of Economic Development has announced that it will be heading a trade delegation of Isle of Man 'Clean Tech' companies to the UK, Europe and the USA, in the latter part of this year.

The events will allow Isle of Man businesses to showcase their products and services, as well as explore business growth opportunities with potential investors, customers and partners.

The locations the Department is targeting include: Boston, Oregon and San Francisco in the USA; Edinburgh, Manchester, Lincoln and London in the UK; Belgium, Germany and Scandinavia.

The Department said each event will involve a similar format. The presence of one or more electric motorbikes that have competed in a zero emissions race in the Isle of Man; presentation on the benefits of the island for Clean Tech businesses; screenings of a one-hour version of the TT Zero movie Charge, and a panel question and answer session, followed by a networking opportunity. The Isle of Man government have encouraged island businesses to get involved.

Laurence Skelly, Political Member for the Department of Economic Development with responsibility for Clean Tech, explained: The Isle of Man has a unique selling proposition to attract businesses in the Clean Tech sector, the key benefits being an ideal location to trial technology and to protect and maximize financial benefit from intellectual property. I hope businesses will take this valuable opportunity to help generate new business. We have a very competitive proposition which is difficult to replicate elsewhere.

Dr Ken Milne, Senior Manager for Energy Policy, added: The Department is particularly looking to leverage the value generated by the TT Zero event and TT Zero movie Charge and follows on from a very successful Clean Tech event we hosted in London recently which generated several high quality business leads. Through promoting the island as an excellent location for Clean Tech businesses we hope that we will attract dynamic, innovative businesses and entrepreneurs.

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IoM Plans Clean Tech Promotional Tour

Egg-stra Special Easter Hunt at Milntown

by Alex Wilson

Crossroads Care Isle of Man and Milntown are looking for happy hunters to help them and the Easter Bunny find his friends that are hiding in Milntown Gardens.

The Hunt is on daily from Saturday 31st March Sunday 15th April, (except Tuesdays) 10.00am 4.30pm when visitors to Milntown will be able to take part in the Easter Hunt in aid of local charity Crossroads Care Isle of Man.

Hunters who successfully find all 10 of the Easter Bunnys friends will be rewarded with a chocolate Easter egg.

To take part in the Easter Hunt, Crossroads Care Isle of Man asks for a 1 donation to the charity. All funds raised from the Easter Hunt will provide meaningful respite for those looking after a loved one with an illness, disability, frailty, substance abuse or mental health issue on the island. Normal garden admission fees will apply in aid of the Milntown Trust and the upkeep of Milntown Estate.

Milntown Restaurant will also be offering an Easter menu for hungry hunters with seasonal lunchtime specials from 11.30am 2.30pm and afternoon tea from 2.30pm.

Manx Radio will be opening the Easter Hunt on Saturday 31st March with Alex Brindley and Ashlea Tracy seeing whether they can find the Easter Bunnys friends and speak to their fellow hunters.

Special thanks must be paid to Shoprite for their support of the event by way of providing a stock of Easter Eggs, which allows for all funds raised to go to Crossroads Care Isle of Man.

For restaurant reservations please call 01624 818091. Please note Milntown Restaurant and Gardens are closed every Tuesday.

-ENDS-

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Egg-stra Special Easter Hunt at Milntown

Walkers Advises On Offshore Aspects Of Russian 'Superbank' Merger

16 March 2012

The Jersey office of Walkers, the leading international law firm, has advised on the multi-jurisdictional aspects of the USD1bn merger between Sberbank and Troika Dialog, which will create a Russian 'superbank'.

Troika Dialog has securities trading, investment banking, private wealth and asset management operations in 21 cities across Russia plus offices in the UK, US, Ukraine, Kazakhstan and Cyprus. The closure of this deal has created the largest universal banking institution in Russia.

Speaking previously on the closure of the deal, Herman Gref, CEO and Chairman of the Management Board of Sberbank, explained that the merged institution has ambitious targets, including to become a major global player in the area of investment banking.

We are taking the scope of our business to the next level," Gref commented. "The merger will enable us to modernize the Russian financial industry and increase the quality of services we offer to our corporate and private clients. We plan to consolidate and expand our leading positions in investment banking in both Russia and the Commonwealth of Independent States (CIS) in the next two to three years and intend to become one of the top 15 global players in terms of debt securities, currency, and commodities operations in the next five years. We have ambitious goals: in 2014 we expect to double income from investment banking activity. At the moment we are already working on over 70 investment banking deals.

Walkers provided multi-jurisdictional legal services for this transaction, including acting as Cayman Islands and British Virgin Islands counsel. The Walkers team was led by Partner Jack Boldarin who commented:

Our involvement in this deal underscores our successful track record in advising on the market leading, cross-border corporate transactions in the Russia and CIS region.

This deal will play a major role in hastening the modernisation of Russias financial industry and provide a firm footing upon which Sberbank can move to reach its ambitious growth targets in its key business areas, including investment banking.

Russia and CIS expertise is a key part of our offering here in our European based hub in Jersey, an area from where we can deliver time zone sensitive, multi-jurisdictional advice on British Virgin Islands, Cayman Islands, Jersey and Irish law to our international clients.

Sberbank is the largest credit institution in Russia and the CIS, presently accounting for 26% of the aggregate banking assets and 30% of banking capital in the wider region. Sberbank has a total of 20,000 branches across Russia. Sberbank accounts for 47.9% of retail deposits, 31% of consumer loans and 31% of corporate loans in Russia.

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Walkers Advises On Offshore Aspects Of Russian 'Superbank' Merger

Offshore Aspects Of Russian 'Superbank' Merger

16 March 2012

The Jersey office of Walkers, the leading international law firm, has advised on the multi-jurisdictional aspects of the USD1bn merger between Sberbank and Troika Dialog, which will create a Russian 'superbank'.

Troika Dialog has securities trading, investment banking, private wealth and asset management operations in 21 cities across Russia plus offices in the UK, US, Ukraine, Kazakhstan and Cyprus. The closure of this deal has created the largest universal banking institution in Russia.

Speaking previously on the closure of the deal, Herman Gref, CEO and Chairman of the Management Board of Sberbank, explained that the merged institution has ambitious targets, including to become a major global player in the area of investment banking.

We are taking the scope of our business to the next level," Gref commented. "The merger will enable us to modernize the Russian financial industry and increase the quality of services we offer to our corporate and private clients. We plan to consolidate and expand our leading positions in investment banking in both Russia and the Commonwealth of Independent States (CIS) in the next two to three years and intend to become one of the top 15 global players in terms of debt securities, currency, and commodities operations in the next five years. We have ambitious goals: in 2014 we expect to double income from investment banking activity. At the moment we are already working on over 70 investment banking deals.

Walkers provided multi-jurisdictional legal services for this transaction, including acting as Cayman Islands and British Virgin Islands counsel. The Walkers team was led by Partner Jack Boldarin who commented:

Our involvement in this deal underscores our successful track record in advising on the market leading, cross-border corporate transactions in the Russia and CIS region.

This deal will play a major role in hastening the modernisation of Russias financial industry and provide a firm footing upon which Sberbank can move to reach its ambitious growth targets in its key business areas, including investment banking.

Russia and CIS expertise is a key part of our offering here in our European based hub in Jersey, an area from where we can deliver time zone sensitive, multi-jurisdictional advice on British Virgin Islands, Cayman Islands, Jersey and Irish law to our international clients.

Sberbank is the largest credit institution in Russia and the CIS, presently accounting for 26% of the aggregate banking assets and 30% of banking capital in the wider region. Sberbank has a total of 20,000 branches across Russia. Sberbank accounts for 47.9% of retail deposits, 31% of consumer loans and 31% of corporate loans in Russia.

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Offshore Aspects Of Russian 'Superbank' Merger

California Department of Real Estate Warns Timeshare Resale Fraud on the Rise

SACRAMENTO, Calif.--(BUSINESS WIRE)--

The California Department of Real Estate (DRE) issued today a Consumer Alert about the growing number of scams being perpetrated against timeshare owners in connection with timeshare resales. DREs mission is to protect the public interests in real estate matters.

Given the economic strain many families are facing, timeshare ownership is a luxury some families can no longer afford, DRE Acting Commissioner Barbara Bigby said. And with so many owners wanting to divest themselves of their timeshares, it has created an opportunity for fraudsters.

The Consumer Alert issued by the DRE details the typical timeshare resale scams and provides tips on how to avoid them. Most scams involve a promise of a quick sale of the sellers timeshare interest in exchange for an upfront fee. However, after the fee is collected, little or nothing is done to sell the timeshare interest. But, as is the case with most scams, there are variations of timeshare resale fraud as well. The following are three of the most common fraudulent practices, according to DRE officials:

1. Unlicensed and illegitimate timeshare reseller fraudsters pose as legitimate and licensed real estate brokers, thereby providing a false sense of security, and then demand the payment of monies up front in connection with the purported resales. However, no services of any kind are actually provided.

2. Scammers falsely tell timeshare owners that the "agent" has found a "ready and willing" buyer for their timeshares. The scammer asks for listing or paperwork fee to effect the transaction, but once the fee is collected, the seller never hears from the company again.

3. Fraudsters pose as timeshare buyers and use such advertising slogans as Will Buy Your Timeshare for Cash, Timeshares Wanted, or something similar, to lure timeshare owners. The scammers then ask the owners for a small amount of money up front to process the paperwork for the transfer. Once those monies are paid, the owners never hear from the scammers again.

The following practical advice can help consumers from falling victim to a timeshare scam:

For a copy of the Consumer Alert and or more information about DRE, visit http://www.dre.ca.gov.

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California Department of Real Estate Warns Timeshare Resale Fraud on the Rise