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BUSINESS
October 25, 1990 | JUANITA DARLING, TIMES STAFF WRITER
In the largest new commercial bank loan to a Mexican company since the Third World debt crisis began eight years ago, 16 international banks and an arm of the World Bank agreed Wednesday to lend glass-making giant Vitro $126 million for up to 10 years. In addition, the International Finance Corp., the World Bank unit that extends credit to private companies, said it will invest $10 million in the company's stock.
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BUSINESS
December 17, 2013 | By W.J. Hennigan
Insurance giant American International Group Inc. announced it would sell a majority of its Century City aircraft-leasing unit to Netherlands-based AerCap Holdings, in a deal valued at $5.4 billion in cash and stock. The deal for International Lease Finance Corp. still faces substantial regulatory hurdles, including U.S. and foreign reviews. If approved, the deal is expected to close by the second quarter of next year. AIG has been trying to sell the unit since 2008, when it nearly collapsed and was forced under federal government control.
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BUSINESS
February 1, 1994 | From Associated Press
GE Capital Corp. and the fund group headed by George Soros, the Wall Street billionaire and philanthropist, are joining forces to invest in electric power plants in developing countries, the two sides announced Monday. The new Global Power Investments will raise at least $2.5 billion and invest it in building or running privately owned power plants, the partners said. The fund will initially focus on Mexico and Asia, particularly China, India and Indonesia.
BUSINESS
May 31, 2013 | By W.J. Hennigan, Los Angeles Times
Insurance giant American International Group Inc.'s attempt at selling its Century City aircraft-leasing company to a consortium of Chinese investors has run into turbulence because a deposit payment was not received on schedule. AIG revealed in a filing Friday with the Securities and Exchange Commission that the investment group failed to meet the deadline that was specified under the terms of a deal to sell up to 90% of International Lease Finance Corp. for $4.8 billion. AIG now has the right to terminate the sale agreement, which was struck in December.
BUSINESS
June 11, 1996 | From Bloomberg Business News
Emerging markets' share of world stock market capitalization fell in 1995 for the first time in five years, reflecting losses in some Latin American markets, the International Finance Corp. reported Monday. The decline resulted largely from "the negative impact" on financial markets carried over from the Mexican peso crisis that began in December 1994, according to the IFC, a unit of the World Bank.
BUSINESS
June 15, 2004 | From Bloomberg News
International Financial Services Inc. of New York and others were ordered to pay $100 million for defrauding currency-futures investors, the Commodity Futures Trading Commission said. John Walker Robinson, former IFS president, and Chan Kow Lai, an IFS director, were also "personally liable for the wrongdoing," Judge Gerard Lynch of the Southern District of New York said in an order of final judgment, posted on the CFTC website Monday. The commission originally filed a complaint in July 2002.
NEWS
April 24, 1988 | JIM SCHACHTER, Times Staff Writer
There's a company in Beverly Hills that owns more than 50 commercial jets but has only three pilots on its payroll--and one is the president. It operates not a single hangar, leases not a solitary landing gate at any airport and, in 15 years, has sold not one ticket or served one in-flight meal. Is this any way to run an airline? Well, not really. But International Lease Finance Corp.
BUSINESS
January 14, 2009 | Associated Press
There was a time when buyers would have lined up for a chance to purchase one of the world's largest aircraft owners. But months after American International Group Inc. hung a "for sale" sign on its aircraft-leasing subsidiary International Lease Finance Corp., no deal has closed. AIG is trying to sell assets to repay the $60-billion federal loan that helped it avoid collapse this fall.
BUSINESS
October 20, 2009 | W.J. Hennigan
Since its near-collapse, American International Group Inc. has been selling all kinds of assets -- but it apparently doesn't want to part with its Century City-based aircraft leasing company. On Monday, the troubled insurance giant disclosed that it lent the unit, International Lease Finance Corp., $2 billion to pay off debt that was due last week. It marked the second time that AIG pumped federal bailout money into ILFC, signaling that AIG and the federal government want to keep the unit -- at least in the short term.
BUSINESS
May 31, 2013 | By W.J. Hennigan, Los Angeles Times
Insurance giant American International Group Inc.'s attempt at selling its Century City aircraft-leasing company to a consortium of Chinese investors has run into turbulence because a deposit payment was not received on schedule. AIG revealed in a filing Friday with the Securities and Exchange Commission that the investment group failed to meet the deadline that was specified under the terms of a deal to sell up to 90% of International Lease Finance Corp. for $4.8 billion. AIG now has the right to terminate the sale agreement, which was struck in December.
BUSINESS
December 8, 2012 | By W.J. Hennigan, Los Angeles Times
Insurance giant American International Group Inc. is in talks to sell a 90% stake in its Century City aircraft-leasing company to Chinese investors. AIG revealed in a statement Friday that talks to sell International Lease Finance Corp. were underway. The New York insurance company has been trying to unload the unit since 2008, when AIG nearly collapsed and was forced to go under government control. The leasing company, better known as ILFC, buys aircraft and rents them to airlines for a fixed period.
BUSINESS
May 20, 2010 | By W.J. Hennigan, Los Angeles Times
American International Group Inc. has tapped a former top Airbus official to take the helm of its Century City-based aircraft leasing business, which in recent months has been devastated by executive defections. The insurance giant said Wednesday that it had appointed Henri Courpron president and chief executive of International Lease Finance Corp., one of the world's largest aircraft leasing companies with a fleet of nearly 1,000 commercial jets. The appointment of the longtime Airbus executive was seen as a way to bring some stability to the business, which has been rocked by several-high profile resignations.
BUSINESS
January 26, 2010 | By W.J. Hennigan
Steven Udvar-Hazy has been succeeded as chairman of International Lease Finance Corp., a move that analysts said eliminates a potential conflict of interest in his bid to buy back a portion of the aircraft leasing business that he co-founded and grew into one of the world's largest. Udvar-Hazy, who retains the title of chief executive, was quietly succeeded as chairman by Douglas Steenland, former president and chief executive of Northwest Airlines. ILFC did not announce the move, which took place last month.
BUSINESS
January 4, 2010 | By W.J. Hennigan
A New York aviation services company has offered to buy International Lease Finance Corp. in Century City for more than $12 billion in a deal that would sever the aircraft leasing firm's ties to the nation's biggest government bailout. But ILFC parent company American International Group Inc., the insurance giant that received $182.5 billion in bailout money from the federal government, has refused to respond to or even comment on the offer. "We have support all over the country, but for some reason we can't get a response from AIG," said Robert Rose, president of Allied Aviation Services Inc., one of the nation's largest providers of fuel for commercial aircraft.
BUSINESS
October 20, 2009 | W.J. Hennigan
Since its near-collapse, American International Group Inc. has been selling all kinds of assets -- but it apparently doesn't want to part with its Century City-based aircraft leasing company. On Monday, the troubled insurance giant disclosed that it lent the unit, International Lease Finance Corp., $2 billion to pay off debt that was due last week. It marked the second time that AIG pumped federal bailout money into ILFC, signaling that AIG and the federal government want to keep the unit -- at least in the short term.
BUSINESS
September 15, 2009 | W.J. Hennigan
If you've flown on a commercial airliner over the last two decades, there's a good chance you were in a plane leased from Steven Udvar-Hazy. The Hungarian refugee, who came to America as a child in 1958 with little more than a love for aviation, is now one of the richest men in Los Angeles. He amassed his estimated $2.2-billion fortune by building up a global aircraft-leasing empire and selling it in 1990 to insurance giant American International Group Inc. But now Udvar-Hazy, who was allowed to keep running the business under AIG, wants part or all of the company back.
BUSINESS
May 20, 2010 | By W.J. Hennigan, Los Angeles Times
American International Group Inc. has tapped a former top Airbus official to take the helm of its Century City-based aircraft leasing business, which in recent months has been devastated by executive defections. The insurance giant said Wednesday that it had appointed Henri Courpron president and chief executive of International Lease Finance Corp., one of the world's largest aircraft leasing companies with a fleet of nearly 1,000 commercial jets. The appointment of the longtime Airbus executive was seen as a way to bring some stability to the business, which has been rocked by several-high profile resignations.
BUSINESS
January 4, 2010 | By W.J. Hennigan
A New York aviation services company has offered to buy International Lease Finance Corp. in Century City for more than $12 billion in a deal that would sever the aircraft leasing firm's ties to the nation's biggest government bailout. But ILFC parent company American International Group Inc., the insurance giant that received $182.5 billion in bailout money from the federal government, has refused to respond to or even comment on the offer. "We have support all over the country, but for some reason we can't get a response from AIG," said Robert Rose, president of Allied Aviation Services Inc., one of the nation's largest providers of fuel for commercial aircraft.
BUSINESS
January 14, 2009 | Associated Press
There was a time when buyers would have lined up for a chance to purchase one of the world's largest aircraft owners. But months after American International Group Inc. hung a "for sale" sign on its aircraft-leasing subsidiary International Lease Finance Corp., no deal has closed. AIG is trying to sell assets to repay the $60-billion federal loan that helped it avoid collapse this fall.
BUSINESS
June 15, 2004 | From Bloomberg News
International Financial Services Inc. of New York and others were ordered to pay $100 million for defrauding currency-futures investors, the Commodity Futures Trading Commission said. John Walker Robinson, former IFS president, and Chan Kow Lai, an IFS director, were also "personally liable for the wrongdoing," Judge Gerard Lynch of the Southern District of New York said in an order of final judgment, posted on the CFTC website Monday. The commission originally filed a complaint in July 2002.
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