Sep 13, 8:25 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury World By Jean-Louis DE LA VAISSIERE 09/13/19 AT 8:14 AM A rare royal tapestry housed at Notre-Dame cathedral in Paris has been spared the water damage officials feared, after firefighters doused the great mediaeval edifice to extinguish last April's devastating blaze.The huge tapestry, finished under the reign of king Louis Philippe in 1838, was evacuated from the gothic monument just days after the fire.It had been stored in two parts in trunks -- which protected it from the molten lead falling from the roof, which was destroyed along with the steeple in the April 15 disaster.But the tapestry had soaked up huge amounts of water, which swelled its weight to three tonnes from just one tonne when it was handed over to France's Mobilier National, which oversees the country's collection of valuable furniture and artworks."Rolled up, it would have been a bacterial soup" that … [Read more...] about Prized Notre-Dame Tapestry Out Of Danger After Water Worries
In connection with the reverse takeover transaction, GCG completed a brokered private placement of subscription receipts. GMP Securities L.P. was engaged by GCG to act as agent in respect of the private placement. Pursuant to the private placement, GCG issued 687,500,000 subscription receipts at a price of $0.40 each, for gross proceeds to GCG of $275,000,000. Approximately US$200,000,000 of the proceeds from the private placement were used by GCG to indirectly acquire the assets of Frontino Gold Mines Ltd. (“Frontino”), one of Colombia's largest gold mining operations, in a transaction completed prior to the reverse takeover. Pursuant to the acquisition of Frontino's assets, GCG entered into a joint venture agreement with Medoro Resources Ltd. (“Medoro”) under which GCG holds a 95 per cent interest in the joint venture entity that purchased the Frontino assets and Medoro holds the remaining 5 per cent, with a back-in right pursuant to which Medoro has the right … [Read more...] about Gran Colombia Gold Completes $275M Private Placement, Frontino Acquisition and Reverse Takeover of Tapestry Resource
Introduction The liberal economic approach undertaken in 1991 inserted into the Indian political governing system, elements of both democracy and oligarchy. Montesquieu identified three essential organs of a government: legislature, executive and the judiciary. The democratic branch in our system is represented by legislature (bureaucracy as its subordinate) and executive, while the judiciary represents the oligarchy. The constitution as the grund norm and a political document lays down the doctrine of separation of powers in Article 50. However, since independence right from the Bela Banerjee’s case there has been a conflict over true guardianship of the constitution between the political branch claiming to represent the direct will of the people (popular will) and the judiciary which claims to be the enforcement agency and represent the rational and logical will of the people (general will). The Doctrine of separation of powers as part of the unalterable basic structure of our … [Read more...] about India’s tryst with tribunalization and transfer of judicial power to regulatory bodies
A constitutional bench recently in Dr. Subramaniam Swamy v. Director, CBI & Ors. struck down Sec. 6A(1) of the Delhi Special Police Establishment Act, 1946 & Sec. 26(c) of CVC Act, 2003 to that extent. Section 6A(1) made it mandatory for the CBI to take prior approval of the Central Government to conduct any enquiry or investigation against employees of Central Government above the rank of joint secretary and senior officers appointed by Central Government in companies etc for an offence alleged to be committed under Prevention of Corruption Act, 1988.The judgment authored by Chief Justice R.M.Lodha found this section violative of Article 14 of the constitution. The judgment also found this section an attempt to reproduce the single directive no. 4.7(3) which was struck down in Vineet Narain Case [(1998) 1 SCC 226]. The judgment has been largely welcomed as a very positive step against corruption and in freeing CBI from political clutches.What I intend to debate via this write … [Read more...] about The epic battle of Judicial Discretion v. Judicial Destruction: Good bye Sec. 6A(1)
As tropical storm Harvey batters its way through Texas, flooding the Gulf Coast at unprecedented levels, it might be interesting to look at President Donald Trump‘s own relationship with hurricanes, or the lack thereof.In October, The Associated Press reported that the then-candidate claimed to have taken $17 million in insurance money for storm damage to his Mar-a-Lago resort in Palm Beach, Florida.“Landscaping, roofing, walls, painting, leaks, artwork in the — you know, the great tapestries, tiles, Spanish tiles, the beach, the erosion,” he said in a 2007 deposition. “It’s still not what it was.”That was news to other locals and former Trump employees. Former butler Anthony Senecal told the AP that only some nearby trees were flattened and some roof titles were knocked off. He claimed to be there for the series of storms, from 2004 to 2005, that supposedly caused such expensive damage to the resort. (Trump disavowed Senecal in an … [Read more...] about Remember When Trump Took Insurance $ for Hurricane Damage That Reportedly Didn’t Exist?