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The US and Europe are in disagreement over how to utilize frozen Russian assets to assist Ukraine without facing legal or financial consequences. Western nations have frozen over $280 billion in securities and cash, with the majority held in the European Union. While all parties agree that these funds should remain off-limits to Russia unless it commits to aiding Ukraine's reconstruction, there is a divide on whether seizing the assets outright is lawful. The US and the UK support asset seizure, while France and Germany express caution due to concerns about Russian retaliation and the potential impact on financial stability. Various options are being explored, including using the assets as collateral for bond sales or providing a guarantee that the assets will not be returned to Russia unless it pays for Ukraine's reconstruction. However, these proposals still raise legal and financial concerns and may affect the role of G-7 currencies as global reserves. The EU is also considering a windfall tax on the profits generated by the frozen assets to fund weapons for Ukraine. [Extracted from the article]

The US and Europe are in disagreement over how to utilize $280 billion of frozen Russian assets to assist Ukraine. While Western nations agree that these funds should remain off-limits from Russia unless it commits to helping with Ukraine's reconstruction, they differ on whether it is lawful to seize the assets outright. The US and the UK support seizing the assets, while France and Germany express caution due to concerns about Russian retaliation and the potential impact on financial stability. Various options are being considered, including using the assets as collateral for bond sales or providing a guarantee that the assets will not be returned to Russia unless it pays for Ukraine's reconstruction. The EU is also considering a windfall tax on the profits generated by the frozen funds to fund weapons for Ukraine. [Extracted from the article]

Germany's opposition to the European Union's Corporate Sustainability Due Diligence Directive (CSDDD) may scuttle the legislation, which aims to hold companies accountable for environmental and human rights breaches in their value chains. Germany, previously a supporter of the legislation, is likely to abstain from the final vote among member states, potentially leading others to do the same. The CSDDD is seen as a game-changing piece of legislation for Europe, but complaints about reporting requirements and data issues have arisen. Italy and Sweden may also decline to support the rule, and Belgium could delay the vote if there is insufficient backing. [Extracted from the article]

US regulators have tentatively denied the review of a joint venture between Delta Air Lines and Grupo Aeromexico due to concerns over Mexico's aviation rules. The US is worried about recent actions by Mexican officials impacting US carriers at Mexico City's Benito Juarez International Airport. The Department of Transportation is calling for the agreement to wind down by October 26. This decision comes as President Andres Manuel Lopez Obrador aims to boost traffic to Felipe Angeles International Airport, which opened in March 2022. The document is a preliminary decision, allowing for 14 calendar days for parties involved to submit evidence and objections. [Extracted from the article]

US regulators have tentatively denied the review of a joint venture between Delta Air Lines and Grupo Aeromexico due to concerns over Mexico's aviation rules. The US is worried about recent actions by Mexican officials impacting US carriers at Mexico City's Benito Juarez International Airport. This decision comes as President Andres Manuel Lopez Obrador aims to boost traffic to the new Felipe Angeles international airport, which has not yet had a significant impact. The document also references a ruling in August that blocked a similar deal between Allegiant Travel Co. and Grupo Viva Aerobus SA. The decision is preliminary and allows for 14 days for parties to submit evidence and objections. [Extracted from the article]

JPMorgan Chase & Co. has reached a $290 million settlement with victims of Jeffrey Epstein, but attorneys general from 16 states and the District of Columbia have objected to the agreement. They argue that a clause in the settlement could prevent states from pursuing their own litigation against Epstein. The objection may delay the payout to nearly 200 victims. JPMorgan and the victims' lawyer have defended the settlement, stating that it still allows states to pursue claims on behalf of residents. The objection will be explored at a hearing in New York. [Extracted from the article]

"To say the competitive dynamic in this industry has changed significantly since the 80s and 90s, when Rite Aid was the number one chain in the country, would be an understatement", Sussberg said. (Bloomberg) -- US pharmacy chain Rite Aid Corp. is moving quickly to sell its assets in bankruptcy, over the objection of at least one potential bidder, because the company faces looming financial deadlines, a company lawyer said during the chain's first day under court supervision. [Extracted from the article]

US Bankruptcy Judge Michael Wiles said he would give Voyager permission to try to close the Binance.US sale and a related payout plan which may give customers about 73% of what they are owed, depending on where prices for various cryptocoins land in the coming weeks. Wiles criticized the SEC lawyers for attacking the sale and the plan without actually saying that the Commission itself had concluded either was illegal. Wiles rejected claims by lawyers for the US Securities and Exchange Commission that parts of the deal and the plan violate federal law. [Extracted from the article]

US Bankruptcy Judge Michael Wiles said he would give Voyager permission to try to close the Binance.US sale and a related payout plan which may give customers about 73% of what they are owed, depending on where prices for various cryptocoins land in the coming weeks. The unusual court fight included customers who dialed into the proceeding and were allowed to ask Wiles and Voyager's restructuring experts questions about the sale and the payout plan. [Extracted from the article]

During the first three months of 2021, the Reuters report alleged, citing documents, Binance.US transferred more than $400 million from that account to a trading firm controlled by Binance Chief Executive Officer Changpeng "CZ" Zhao called Merit Peak. (Bloomberg) -- Texas officials are doubling down on their objection to a proposed deal between bankrupt crypto exchange Voyager Digital Ltd. and Binance.US, according to documents filed in New York bankruptcy court on Friday. [Extracted from the article]

Acting a day after releasing the final opinions of their term, the justices said they won't hear arguments from Barronelle Stutzman, a Southern Baptist woman who owns Arlene's Flowers and Gifts in Richland, Washington. Justices Clarence Thomas, Neil Gorsuch and Samuel Alito said they would have heard the appeal. (Bloomberg) -- The U.S. Supreme Court turned away a long-pending appeal from a florist who refuses to provide flowers for same-sex weddings, declining to rejoin a divisive debate at the intersection of gay and religious rights. [Extracted from the article]

(Bloomberg) -- A plan to restructure $22 billion of Puerto Rico debt and fix the bankrupt island's unfunded pension system won't have the support of Governor Pedro Pierluisi. The governor's administration Tuesday filed a limited objection regarding the restructuring plan to the court overseeing Puerto Rico's record bankruptcy, according to a court filing. [Extracted from the article]

(Bloomberg) -- A plan to restructure $22 billion of Puerto Rico debt and fix the bankrupt island's unfunded pension system won't have the support of Governor Pedro Pierluisi. The governor intends to file an objection regarding the restructuring plan to the court overseeing Puerto Rico's record bankruptcy, Pierluisi said in a statement Tuesday. [Extracted from the article]