Attorneys, others seek more than $10 million in fees from exclusive Montana club's bankruptcyAugust 27th, 2009 Fees sought in club's bankruptcy top $10 millionBILLINGS, Mont. — Attorneys and others involved in bankruptcy proceedings for Montana's ultra-exclusive Yellowstone Club have requested more than $10 million in fees and expenses — including some charges billed at more than $900 an hour.
Credit Suisse says new AIG chief Benmosche stepping down from bank's board after 7 yearsAugust 10th, 2009 New AIG chief leaves Credit Suisse boardZURICH —Robert Benmosche, who starts this week as the new president and CEO of American International Group Inc., has stepped down from Credit Suisse Group's board with immediate effect, the Swiss bank said Monday. The former chairman and chief executive of insurance company MetLife Inc.
New York Fed announces investor advisory group, includes execs from Pimco, Credit SuisseJuly 24th, 2009 New York Fed announces investor advisory groupWASHINGTON — The Federal Reserve Bank of New York on Friday announced the creation of an investor advisory group, part of its ongoing efforts to closely monitor economic and financial conditions. The 13-member Investor Advisory Committee on Financial Markets won't have any formal policymaking responsibilities, but will "serve as a forum for informal discussions on financial, economic and public policy issues," the New York Fed said.
Co-founder of exclusive Yellowstone Club has 10 days to arrange turnover of personal fortuneJune 19th, 2009 Resort founder has 10 days for asset decisionsBILLINGS, Mont. — The bankrupt co-founder of Montana's millionaires-only Yellowstone Club has 10 days to arrange how she will part with jewelry, furs, cars, houses, art and furniture.
Judge says bankrupt co-founder of exclusive Yellowstone Club has to sell personal assetsJune 17th, 2009 Judge: Exclusive club co-founder has to liquidateBUTTE, Mont. — A bankruptcy judge has rejected Edra Blixseth's bid to reorganize her finances, pushing the co-founder of the ultra-exclusive Yellowstone Club into a forced sale of her many houses, cars and other properties.
$115M sale of exclusive Yellowstone Club to Boston investor group approved by judgeJune 3rd, 2009 Exclusive Yellowstone Club sale approved for $115MBILLINGS, Mont. — A federal bankruptcy judge has approved a plan to sell the exclusive Yellowstone Club in Montana for $115 million to a Boston investor group.
Connecticut court rules that Credit Suisse CEO Dougan is trying to renege on divorce dealMay 14th, 2009 Conn. court rules against Credit Suisse CEOHARTFORD, Conn. — The chief executive of Swiss banking giant Credit Suisse is haggling with his ex-wife over nearly $1 million she says he owes her for being 12 days late with a divorce-related payment in 2006.
Bankruptcy judge says Swiss bank's bid for posh Mont. club must include $42M in debt paymentMay 13th, 2009 To buy Mont. club, Swiss bank must repay $42M debtHELENA, Mont.
Federal bankruptcy judge says Credit Suisse loan to Yellowstone Club was predatoryMay 12th, 2009 Judge says loan to Yellowstone Club was predatoryHELENA, Mont. — A federal bankruptcy judge has ruled that a $375 million loan made by Credit Suisse to a Montana resort for the ultrarich was predatory and should be subordinated to other debts.
Yellowstone Club owner says she opposed $375M loan blamed in collapse of Montana resortMay 5th, 2009 Owner of club for rich says she opposed $375M loanMISSOULA, Mont. — The owner of the ultra-exclusive Yellowstone Club says she opposed a $375 million loan blamed for the resort's financial collapse, but never tried to stop the transaction.
Expert: $375M loan to exclusive Yellowstone Club in Montana was based on faulty projectionsMay 4th, 2009 Expert: Club's loan based on faulty projectionsMISSOULA, Mont. — A real estate expert says a $375 million loan to the Yellowstone Club before it sought bankruptcy protection was based on faulty assumptions that sales at the exclusive Montana club would be brisk.
Bankruptcy trial tries to unravel who is responsible for collapse of ritzy Montana resortApril 29th, 2009 Founders of ritzy Montana club trade accusationsMISSOULA, Mont. — The founders of the Yellowstone Club are trading blame over who is responsible for the financial collapse of the Montana haven for the rich that has fallen more than $400 million into debt.
Swiss banking giant Credit Suisse reports 1st quarter net profit of $1.72 billionApril 23rd, 2009 Credit Suisse reports 1Q net profit of 2B francsZURICH — Swiss banking giant Credit Suisse on Thursday reported a first-quarter net profit of 2 billion Swiss francs ($1.72 billion), following a turnaround in its investment bank, which had previously been hit hard by the credit crunch. The figure was better than analysts' expectations for a net profit of up to 1 billion francs and compared with a net loss of 2.15 billion francs in the same quarter last year.
Credit Suisse reports $1.71 bn profit in first quarterApril 23rd, 2009 GENEVA - Banking giant Credit Suisse Group reported Thursday a net profit of 2 billion Swiss francs ($1.71 billion) in the first quarter of 2009, in part owing to a recovery of its trading unit. Last year's first quarter saw the bank lose 2.15 billion francs.
Shakeups at top of Credit Suisse, Swiss ReMarch 10th, 2009 ZURICH - Credit Suisse and Swiss Re, both hit hard by the financial crisis, announced changes at the top of the companies Monday. Peter Forstmoser, the chairman of Swiss Re, the re-insurer, announced in a statement that he would resign from the board and be replaced by Walter B.
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