February 15, 2013 |
A federal judge approved a $17-million loan from two movie studios to keep the lights on at troubled Rhythm & Hues, the award-winning visual effects company that worked on the Oscar-nominated “Life of Pi.” Rhythm & Hues, based in El Segundo, on Wednesday filed for bankruptcy protection under Chapter 11 of the federal bankruptcy code after laying off 250 employees. As part of its plan to avoid liquidation, Rhythm & Hues said it secured a $17-million loan from Universal Studios and 20th Century Fox to complete work on current projects, including “R.I.P.D.” and “Percy Jackson: Sea of Monsters.” Warner Bros., which is owed $4.9 million, is not providing any financing, the company said in court filings.
March 26, 2014 |
As Shabazz Muhammad's father is sentenced Thursday in U.S. District Court in Las Vegas for conspiracy to commit fraud, UCLA faces its most significant men's basketball game since 2008. Muhammad is in the NBA now, but the off-court problems he brought to UCLA last season continue to dog the school. According to a sentencing brief filed last week , Ron Holmes told the FBI he received a loan based on his son's future professional basketball earnings. Estimated at $350,000 in another court document, the loan was Holmes' principal source of income at the time and came from an unnamed "marketing company.
February 6, 2012 |
Fisker Automotive has stopped work at a former General Motors auto plant in Delaware where it plans to build Project Nina, a family-size plug-in hybrid that is expected to sell for about $50,000. The Anaheim-based auto company laid off 26 workers at the plant and let go 40 contract employees working at its headquarters . That leaves the company with about 600 employees working on automotive development in Anaheim. The company said it “delayed work at the plant based on ongoing discussions” with the Department of Energy “regarding funding for the Project Nina program.” The agency is withholding loans for the Nina project because Fisker missed milestones in getting its first vehicle, the Karma sports car, to market.
April 5, 2009 |
Question: As a director and treasurer of our homeowner association board, I have a duty to inquire about the association's finances. Without my knowledge or consent, the other board directors committed our association to a loan with unfavorable terms. I have been asking a lot of questions regarding the loan agreement, but no one is giving me answers. The association's attorney informed the board, and our president affirmed, that "the board will not be liable for this loan."
January 7, 2014 |
Galaxy officials said Tuesday the team has acquired Brazilian forward Samuel Rosa Goncalves, known simply as Samuel, on loan from the Fluminense FC team of Brazil's Serie A. Samuel, 22, had 15 goals in 72 appearances over the last two seasons with Fluminense, across all competitions for the club based in Rio de Janeiro. Terms of the loan agreement were not disclosed. "We are pleased to add Samuel to our roster," Galaxy General Manager and Coach Bruce Arena said in a statement.
CALIFORNIA | LOCAL
June 25, 2013 |
The U.S. Small Business Administration is scheduled to open a disaster loan outreach center for victims of the recent Powerhouse Fire that burned more than 30,000 acres across the Angeles National Forest and high desert, officials said Tuesday evening. The center is set to open in Lake Hughes to assist people with obtaining low-interest federal disaster loans, Los Angeles County's chief executive said in a statement. The loans are available for homeowners, business owners, renters and people who operate nonprofit organizations.