In the Netherlands, so called Bitcoins do not qualify as 'currency' in accordance with the Dutch Civil Code (DCC). According to a Dutch District Court (Overijssel) in a recent ruling, the Bitcoin has the status of a medium of exchange. In the case at issue, a seller ought to transfer 2750 Bitcoins to a buyer, based on a purchase agreement. However, after payment of the purchase price by the buyer, the seller only transferred 990 Bitcoins. The buyer stated that...

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Another block of assets that is up for auction in May and June started to flow through remittance this month, which sent volume and severity up after a lull in April. Liquidated loan volume reached $1.02 billion in May, up from $844.16 million in April. Of the loans that were liquidated, 84% (by balance) fell into the greater than 2% loss severity category. May loss severity registered 48.94%, up nine percentage points from April's 39.77% and just above the 12-month...

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The twelve international crews competing in the Clipper 2013-14 Round the World Yacht Race will arrive in Manhattan on June 4, following a brief muster in New Jersey, after completing more than three quarters of its eleven month, 40,000 mile global ocean odyssey. Established by legendary British sailor Sir Robin Knox-Johnston in 1995, the Clipper Race is uniquely designed for amateur sailors (only the skippers are professional), whose only required qualifications include a thirst for adventure and the desire to...

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By Richard Tretler, Chief Financial Officer/Treasurer, DS-Concept Factoring Over the past five years, the import/export sector expanded significantly. However, traditional financing tools available to small businesses in this arena continue to shrink, leaving behind a marketplace opportunity with enormous potential for import/export trade finance and factoring firms. Before I became the chief financial officer/treasurer of DS-Concept Factoring, I was the CFO for a New York City-based international importer/distributor of fashion and consumer goods. I come from “being in the trenches” with...

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