Kenya Commercial Bank Limited Group ( HY2012 Interim Report

first_imgKenya Commercial Bank Limited Group ( listed on the Uganda Securities Exchange under the Banking sector has released it’s 2012 interim results for the half year.For more information about Kenya Commercial Bank Limited Group ( reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Commercial Bank Limited Group ( company page on AfricanFinancials.Document: Kenya Commercial Bank Limited Group (  2012 interim results for the half year.Company ProfileKenya Commercial Bank Limited (KCB Group) is a leading financial institution offering retail and corporate banking services in Uganda through its subsidiary company. KCB Group offers financial solutions ranging from current accounts, overdrafts and loans to fixed and short-term deposits, mortgage finance, trade finance and forex, and business investment accounts. The banking institution participates in investments in treasury bills and bonds with the central banks. Wholly-owned subsidiaries in the banking group include Kenya Commercial Finance Company Limited, Savings & Loan Kenya Limited, Kenya Commercial Bank Nominees Limited, Kencom House Limited, KCB Tanzania Limited, KCB Sudan Limited, KCB Rwanda SA and KCB Uganda Limited. Kenya Commercial Bank Limited is listed on the Uganda Securities Exchangelast_img read more

United Capital PLC ( HY2019 Interim Report

first_imgUnited Capital PLC ( listed on the Nigerian Stock Exchange under the Investment sector has released it’s 2019 interim results for the half year.For more information about United Capital PLC ( reports, abridged reports, interim earnings results and earnings presentations, visit the United Capital PLC ( company page on AfricanFinancials.Document: United Capital PLC (  2019 interim results for the half year.Company ProfileUnited Capital Plc is a financial services institution in Nigeria providing products and services for investment banking, asset management, trusteeship, securities trading and insurance. The company targets corporations, governments, institutions and high net worth individuals as well as retail investors in Nigeria and other countries in Africa. United Capital Investment Banking offers advisory services which include project finance, capital markets, mergers and acquisitions and structured finance. United Capital Asset Management expertise covers portfolio/fund management, mutual funds, wealth management and investment advisory services. United Capital Trustees has over 50 years’ experience in Trust services and extensive expertise in debenture trusts, mutual funds, bonds and REITS. United Capital Securities Limited is a dealing member of the Nigerian Stock Exchange (NSE) and registered by the Securities & Exchange Commission (SEC) as a Broker/Dealer. The company is also a registered dealing member of NASD OTC Plc which enables it to deal in over-the-counter equity and fixed income securities. Formerly known as UBA Capital Plc, the company changed its name to United Capital Plc in 2014. The company head office is in Lagos, Nigeria. United Capital Plc is listed on the Nigerian Stock Exchangelast_img read more

£1,000 to invest? I’d buy these 3 FTSE 100 healthcare stocks!

first_img£1,000 to invest? I’d buy these 3 FTSE 100 healthcare stocks! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Hikma Pharmaceuticals is a £4bn company focused on developing generic drugs. Its dividend yield is 2.5% and core operating profit increased 9% in its recent full-year results. Hikma is already developing drugs to combat seasonal allergic rhinitis and asthma. These are symptoms of Covid-19, and it’s confirmed an increase in demand for its products. It’s also prioritising the manufacture of medicines in this category, such as respiratory, pain, anti-virals and anti-infectives. Health and medical supply shortages are front on mind this week as the coronavirus pandemic continues. The lockdown is impacting us all and when it will end is in the lap of the gods.Creating a vaccine or finding a virus-beating drug looks like the only way to stop the contagion and get back to normality. This puts the spotlight on pharmaceutical companies and the part they have to play in helping humanity.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Investing in FTSE 100 healthcare stocksIf I had £1k to spend, I’d be looking to invest it in the following three FTSE 100 healthcare stocks.The UK’s biggest pharma giant, AstraZeneca (LSE: AZN), is a £90bn company with a forward dividend yield of 3%. In its recent full-year results, it said cash generation improved and it reduced net debt by 8%. It missed its earnings target, but it’s developing new therapies and increasing its range of drugs. Enter Your Email Address Kirsteen Mackay | Friday, 27th March, 2020 | More on: AZN “This Stock Could Be Like Buying Amazon in 1997” Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Kirsteen Mackay Our 6 ‘Best Buys Now’ Shares Kirsteen owns shares of GlaxoSmithKline. The Motley Fool UK owns shares of and has recommended GlaxoSmithKline. The Motley Fool UK has recommended AstraZeneca and Hikma Pharmaceuticals. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Sector peer GlaxoSmithKline is a £75bn company, with a 6% dividend yield and EPS of 92p. Because of the market crash, the GSK share price has fallen 18% year-to-date. Yet, I think it looks a good investment, especially as it’s partnered Clover Biopharmaceuticals, a Chinese biotech company, to work on a vaccine for Covid-19. I think GSK is a good addition to any long-term portfolio. Image source: Getty Images. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Price-to-earnings ratio confusionForecast price-to-earnings ratios (P/E) have been falling across all listed companies. But these P/E estimates might not be as cheap as they seem. When a single company goes out of favour, its P/E drops in response to a falling share price. This can be either a warning, or a bargain buy. However, when there’s a market correction and stocks fall across the board, the new lower P/E may not be the bargain it first seems. And some high P/Es can actually be good value.AstraZeneca’s 12-month forecast P/E is 19.9, but its current P/E is 80, the discrepancy between the two doesn’t seem accurate. Market volatility is to blame, but this proves investors need to be careful when using P/E as a guide to a stock’s value.Yes, this is a very expensive stock to buy, but that’s because it looks strong and resilient. It has a great product range including nine best-selling drugs with annual sales of over $1bn.The share price has fallen 10% year-to-date, so if it’s a FTSE 100 company you want to own, then buying in a dip could be the best chance you’ll get.The GSK P/E is 16 and its 12-month forecast P/E is nearly 13, while Hikma has a P/E of 11 and its forecast is 14. There’s not much discrepancy between these figures, so I think they’re likely to be accurate.These companies are all favourites of UK equity income managers and it’s easy to understand why. Once this pandemic is under control, I think western governments will inject cash into diagnostic testing and general healthcare improvements. Big pharma businesses like these should thrive. Simply click below to discover how you can take advantage of this.last_img read more

Anglicans respond to global refugee crisis

first_img Assistant/Associate Priest Scottsdale, AZ Rector (FT or PT) Indian River, MI Featured Jobs & Calls Cathedral Dean Boise, ID Tags Rector Knoxville, TN Rector/Priest in Charge (PT) Lisbon, ME Refugees Migration & Resettlement Submit a Job Listing Director of Music Morristown, NJ September 8, 2015 at 4:20 pm In 1982 an organization of the Episcopal Church helped St. Stephen’s, Birmingham, bring a family of eight Cambodians, being held in a camp in Thailand, to our parish. It was a great experience for us all.Does the Episcopal Church currently have an active refugee resettlement program? – the Rev. Douglas M. Carpenter, retired, Birmingham, AL Byron Rushing says: Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Missioner for Disaster Resilience Sacramento, CA Rector Washington, DC Submit an Event Listing This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Douglas M. Carpenter says: Tom Joad says: Family Ministry Coordinator Baton Rouge, LA New Berrigan Book With Episcopal Roots Cascade Books Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET September 8, 2015 at 11:17 pm Let us not forget the geopolitical reasons that got the world into this mess: change is created in that realm, the pain and suffering will be repeated in this fashion again and again. Priest-in-Charge Lebanon, OH Rector Smithfield, NC Curate (Associate & Priest-in-Charge) Traverse City, MI By ACNS staffPosted Sep 8, 2015 AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Associate Rector for Family Ministries Anchorage, AK Associate Rector Columbus, GA Assistant/Associate Rector Morristown, NJ Bishop Diocesan Springfield, IL Rector Pittsburgh, PA Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Middle East, Director of Administration & Finance Atlanta, GA The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Rector Bath, NC Submit a Press Release Rector Martinsville, VA Rector Hopkinsville, KY Rector Collierville, TN Rector Belleville, IL Comments (4) Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Canon for Family Ministry Jackson, MS Curate Diocese of Nebraska Rector Tampa, FL September 8, 2015 at 5:55 pm In 1956 three were at least 200,000 refugees from Hungary. Have we heard from the descendants of the 30,000 1956 Hungarian refugees to the U.S.? #Hungary #refugees TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Anglican Communion, Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Priest Associate or Director of Adult Ministries Greenville, SC Youth Minister Lorton, VA The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group [Anglican Communion News Service] Anglican churches and congregations around the globe are responding to the Syrian refugee crisis with offers of help, support, prayers and political lobbying.In New Zealand, Anglican Archbishop Philip Richardson has joined forces with his Roman Catholic counterpart, Cardinal John Dew, to call on the government to double its annual refugee cap. Since 1987 New Zealand has capped the number of refugees it will receive at 750 each year – a number that has remained unchanged since it was introduced. The two leaders are now calling for that number to be increased, saying that there is a need for “an urgent collective response.”“The response is government-led and can involve communities and churches working together,” they said in a statement.Within the province, the Diocese of Wellington has said its congregations are ready to house and provide financial support for 40 families – around 160 people – as part of a “One family, one parish” initiative.Bishop of Wellington Justin Duckworth has asked every congregation across the diocese to take responsibility for one refugee family. So far, about 40 out of 60 congregations have agreed to take part and more are expected to follow shortly.“In the Diocese of Wellington we aspire to serve the ‘last, lost and least,’” Duckworth says. “We cannot have this as a core part of our identity and not respond to this overwhelming human tragedy in a practical way.”He continued: “As a country we have been criticized for not doing enough to respond to the refugee crisis. We want to say loudly and clearly, as the Anglican Church of New Zealand, that we are prepared to help in a practical way.”In Australia, Archbishop of Sydney Glenn Davies called on the government to develop a “comprehensive response” to the crisis.“One of the most significant characteristics of a civilized society is the way it treats those who are the most vulnerable,” Davies said. “In our own country we have sought to address the needs of children, the intellectually or physically disabled, and the aged, all of whom suffer a disadvantage that is not common to the ordinary working Australian. However, as our world is larger than Australia, so our vision for vulnerable persons ought to be larger,” he said.“Our TV screens have been awash with images of desperate people fleeing the war torn areas of Syria and Iraq. While it has been pleasing to see the way in which Germany’s Chancellor has responded to this humanitarian crisis with an open invitation to settle within her borders, not all countries have shown the same kind of generosity. However, the crisis is too great to be ignored – too great even for Europe to solve on its own.”He has called on Australia to increase its refugee quota from 20,000 per year, saying: “I ask that urgent consideration be given to this, as well as other measures Australia could take to alleviate the suffering caused by the Syrian crisis.”Their calls follow a statement by Archbishop of Canterbury Justin Welby last week in which he described the crisis as “hugely complex and wicked.”“There are no easy answers and my prayers are with those who find themselves fleeing persecution, as well as those who are struggling under immense pressure to develop an effective and equitable response,” Welby said. “Now, perhaps more than ever in post-war Europe, we need to commit to joint action across Europe, acknowledging our common responsibility and our common humanity.”The four bishops in the Church of England’s Diocese of Chelmsford said that they and their churches “stand ready to play our part.”In a joint statement, they say: “As national and local responses develop we will be delighted to work with willing communities (Christian, other faiths and non-faith) and civic leaders to offer sanctuary and welcome to any refugees who are admitted to our area, including providing accommodation. We are currently looking into practical measures to help the situation.“There is a real and urgent need to act locally in the face of a global challenge, and respond to the U.N.’s plea for resettlement. This would be in keeping with the finest Christian and British traditions of championing human dignity and offering sanctuary to those fleeing persecution.”Archbishop Fred Hiltz, primate of the Anglican Church of Canada, is calling on Canadian Anglicans to adopt a three-fold approach to the crisis. In a joint statement with Adele Finney, director of the Primate’s World Relief and Development Fund, he is calling for Anglicans to lobby politicians to demand easier access to the country for Syrian refugees with family already in Canada; for Anglicans to commit to providing 10,000 resettlement places for government-assisted refugees; and for Anglicans to contribute to the province’s relief agency.“In times past Canada has taken extraordinary measures to welcome refugees in crisis,” the two leaders said. “It is time for us to do so again.”Commenting on the haunting photographs of Alan Kurdi, the Syrian toddler whose body was washed up on a beach in Turkey before being carried off the beach by a policeman, they said: “The Turkish policeman is us. Alan Kurdi is our child.“We knew that in the first moment we saw their pictures in today’s newspapers. We knew that in our gut, and when our heart’s cry poured out through our eyes. Our senses involuntarily respond and urgently demand that we act individually and as a human community.”Syria isn’t the only source of refugees. Many refugees are fleeing the conflict in South Sudan and are heading to neighboring countries, including Ethiopia.The Episcopal Church in Jerusalem and the Middle East is actively engaged in supporting them. In an update on the website of the Diocese of Egypt with North Africa and the Horn of Africa, the Rt. Rev. Grant LeMarquand, the assistant bishop in the Diocese of Egypt, described some of the recent work that had been carried out, from providing food to helping restore weather-damaged churches, including the Holy Family Anglican Church which serves refugees in the Ethiopian town of Dima.“These churches in the camps serve not only as worship spaces, of course, but as multi-purpose community gathering places,” LeMarquand said.The diocese has also sent funds to churches in the Ethiopian towns of Tiergol and Matar to help them buy locally available food. “The local churches there have managed to buy food locally and get it to refugees awaiting ration cards,” LeMarquand said. “The Matar congregation also asked for some Nuer language liturgies, hymn books and Bibles. We gave them liturgies and two English Bibles, but we have no Nuer Bibles available in the country at the moment. We gave them one hymnbook and will get them more soon.“We are told that the refugees in these three places have now been processed by the UNHCR and 1,000 a day are now being moved to a new camp called ‘Pinyudu 2′ – Pinyudu 1 is an old camp where almost 70,000 ‘permanent refugees’ already live.“We have at least 10 churches in the Pinyudu area already – the new camp will have as many as 75,000 people, so we will need several new churches. As soon as the people are moved, our local clergy (refugees themselves) will be able to contact the newcomers, find the Anglicans and help them to establish new congregations.“I know that there are at least a couple of South Sudanese clergy and some lay readers among those newcomers going to Pinyudu 2.”The Church of England has issued a prayer for the refugee crisis:Heavenly Father, you are the source of all goodness, generosity and love.We thank you for opening the hearts of many to those who are fleeing for their lives.Help us now to open our arms in welcome,and reach out our hands in support.That the desperate may find new hope, and lives torn apart be restored.We ask this in the name of Jesus Christ Your Son, Our Lord, who fled persecution at His birth and at His last triumphed over death.Amen Rector Albany, NY September 8, 2015 at 9:29 pm I give thanks for our Christion brethren of all denominations who have nobly struggled and sacrificed for the incredible numbers of Syrians, Iraqis, etc. esp. the under-reported Christian minority fleeing ISIS and sure torture and death. The surrounding countries have absolutely no room left and thank Our Lord that enlightened European nations are opening their borders to these persecuted fellow human beings. Thanks be to the A of C for speaking out in the House of Lords with a call to action. Let us pray our own new Presiding Bishop in the U.S. will rail against current US policy which accepts only 65,000 immigrants per annum and 0, yes, zero refugees at all from the current Middle East Crisis. As a teenager, my home church in the Midwest, in a rural community of 15,000, chaired by 2 women, enlisted 40 church families to sponsor 1-3 Vietnamese “boat people” at a time (in their homes) from refugee camps in Thailand. Each refugee required a “bribe” of $5000 to leave, then transportation costs to this small Midwestern town. These hard-working folk learned English, took vocational classes, got jobs and immediately began saving money to bring the next relative over. over 6 years 250+ Vietnamese refugees were sponsored by my church, Several opened small businesses with relatives, others had local jobs, and about 80% faithfully attend our church. Over time many moved to larger Vietnamese communities, particularly Detroit and San Diego. However, the 25 refugees and their families that my family sponsored kept in close touch and some visited each summer. Of those who stayed in town, my parents were able to attend the baptisms, confirmations, weddings, and HS and college graduations of many of the next generation. When my mother, one of the 2 original sponsors of the programs died at a young age of a terribly painful cancer, our family was astonished to welcome 85 family members from Detroit and the West Cost in addition to over 50 local members of our Vietnamese family to her wake and funeral. She made such a tremendous impact as a Christian, not only on these former refugees, but also set an example of self-sacrifice to her fellow church members who followed her lead into what was a fear-filled experiment for them as small town merchants, factory workers and farmers, but also showed me and my sisters what it was to “feed the hungry, clothe the naked and visit those in prison.” For what are those in refugee camps but hungry, naked and in prison? I watched as a single family impacted hundreds, a single church, thousands, because 2 women said “This cannot continue while we have beds and food and love in abundance.”The Bishop of Wellington has asked each parish to take on one family. One. We Americans are in general more wealthy and spoiled than we imagine. Households have multiple cars, every family member has a smart phone, every household has the internet, cable TV plus who know what other electronic games and services, all for our convenience and ease and entertainment. We eat every out of season food know to man, guzzle fossil fuels, have 10 times more clothing than we need or can wear, our landfills are full of our throwaway mindsets and what Episcopal rector boasts of a 100% tithing congregation? Or a growing congregation? Or an evangelizing congregation-the average Episcopalian invites someone to church once every 37 years!!! If as Jesus said, the second most important commandment is to love our neighbors as ourselves, in fulfilling that everyday we would be, like his disciples, selling all we have, at least living only on what we need, and supporting our beloved brethren with no homes, no clothes on their backs and no food in their children’s bellies.We as a family have been privileged to sponsor 3 different children on 2 continents through World Vision. For a mere $30-50/month over the years these children have been fed, educated and been given adequate medical care in difficult places and situations. In each case, at least once we were able to give each family a one-time gift of $500-$800. We were astonished to find that what was barely sacrificial to us as a “Christmas” gift revolutionized these families standards of living forever. Whether it was the purchase of a sewing machine, a bicycle, a he and she goat, corrugated metal for the only roofed house in the village it provided the security and a livelihood not only for our child but for his or her family. And each of those families were so grateful they “paid it forward” to others in their villages, improving life for many others. Our generosity out of our plenty does wonders: our generosity out of our sacrifice does miracles. Lives are not just saved but redeemed. And we are changed by the grace of The Holy Spirit, seeing with our loving Father’s eyes and working with our Savior’s loving hands to feed, to clothe and to heal. And we experience the gifts of the Holy Spirit as we give: love, joy, peace, patience, kindness, goodness, gentleness and self-control. And as our communities see these qualities in us as we work together as the world-wide church to change the world they will want to join us.But who will lead us? Not our government? Our presiding bishop? A bishop urging his churches to adopt one family each? How many families in 4 million Syrian refugees? Do we have that many churches left? A parish priest, retired perhaps, who says this is my calling now and I will speak to every parish that will have me to take or 10 families? Or maybe it will once again be two woman who say “While we have beds and food, no one will be naked or hungry or in prison.” Rector Shreveport, LA Comments are closed. Course Director Jerusalem, Israel Press Release Service Anglicans respond to global refugee crisis Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Featured Events Assistant/Associate Rector Washington, DC Associate Priest for Pastoral Care New York, NY Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector and Chaplain Eugene, OR Duenna Jones Karner says: last_img read more

Allison Davis: Forgotten black scholar studied – and faced – structural…

first_imgShare on Facebook Tweet on Twitter Black History MonthBy David Varel, Visiting Assistant Professor of History at the University of MississippiEditor’s Note: This article was first published on When black historian Carter G. Woodson founded Negro History Week in 1926 (expanded to Black History Month in 1976), the prevailing sentiment was that black people had no history. They were little more than the hewers of wood and the drawers of water who, in their insistence upon even basic political rights, comprised an alarming “Negro problem.”To combat such ignorance and prejudice, Woodson worked relentlessly to compile the rich history of black people. He especially liked to emphasize the role of exceptional African-Americans who made major contributions to American life. At the time, that was a radical idea.W. Allison Davis (1902-1983) came of age in the generation after Woodson, but he was precisely the type of exceptional black person whom Woodson liked to uphold as evidence of black intelligence, civility, and achievement.Davis was an accomplished anthropologist and a trailblazer who was the first African-American to earn tenure at a predominantly white university – the University of Chicago in 1947. But Davis has faded from popular memory. In my book “The Lost Black Scholar: Resurrecting Allison Davis in American Social Thought,” I make the case that he belongs within the pantheon of illustrious African-American – and simply, American – pioneers.Allison Davis, forgotten pioneerAllison and Elizabeth Davis in New Haven, Connecticut, in 1939. Courtesy of the Davis family., CC BY-NDAllison Davis and his wife Elizabeth Stubbs Davis were among the first black anthropologists in the country. Bringing their experiences on the wrong side of the color line to mainstream social science, they made landmark contributions to their field, including “Deep South” (1941) and “Children of Bondage” (1940). Those books sold tens of thousands of copies in the middle decades of the 20th century; they advanced social theory by explaining how race and class functioned as interlocking systems of oppression; and they broke methodological ground in combining ethnography with psychological assessments rarely applied in those days.Allison Davis’ extensive body of research also had a real impact on social policy. It influenced the proceedings in Brown v. Board of Education (1954), undergirded the success of the federal Head Start program and prompted school districts all across the country to revise or reject intelligence tests, which Davis had proven to be culturally biased. His “Social-Class Influences Upon Learning” (1948) made the most compelling case of that era that intelligence tests discriminated against lower-class people.Despite the very real advances that Davis helped to inspire within American education in the 20th century, today those same accomplishments are at risk. American schools remain as racially segregated as ever due to poverty and discriminatory public policies. The investment in public education, especially compensatory programs such as Head Start, looks to further diminish amid the growing support for privatization, charter schools, and school vouchers – or, the Betsy “DeVos playbook,” as critics describe it. To understand the nature of these issues today, one must understand their history, which Davis’ career helps to illuminate.Davis’ scholarly contributions are unquestionable when considered now, many decades later. But as the problems above suggest, it is no longer enough to simply celebrate exceptional African-American pioneers like Davis, or just give lip service to their ideas. The next step is confronting the circumstances that constrained their lives. This means viewing their experiences in relation to the structural racism that has shaped American life since colonial times.Bending – not breaking – academic color lineConsider Davis’ landmark appointment to the University of Chicago. Fitting the story into a master narrative of racial progress obscures more than it reveals. While the appointment did represent the crossing of a racial boundary and heralded the many more barriers that would be challenged in the ensuing decades, a closer look at the story gives little reason to celebrate.Like all black scholars of his time, Davis had to be twice as good to get half as much as his fellow white male scholars (and the situation was far worse for black women scholars like Elizabeth Stubbs Davis). Only through compiling a truly remarkable record of achievement, and only amid the national fervor to make the U.S. the “arsenal of democracy” during World War II, would Chicago even consider appointing Allison Davis. Even then, he only received a three-year contract on the condition that the Julius Rosenwald Foundation (JRF)agree to subsidize most of his salary.Even with the subsidy, certain university faculty members, such as Georgia-born sociologist William Fielding Ogburn, actively opposed the appointment on racist grounds. So, too, did some trustees at the JRF, including the wealthy New Orleans philanthropist Edgar B. Stern, who attempted to sabotage the grant. Discounting Davis’ accomplishments and implying instead a sort of reverse racism, Stern asserted that “the purpose of this move is to have Davis join the Chicago Faculty, not in spite of the fact that he is a Negro but because he is a Negro.” Similarly, myopic charges have been a staple of criticism against affirmative actions programs in more recent times.The Quadrangle Club was where (white) faculty gathered at University of Chicago, midcentury.University of Chicago Photographic Archive, apf2-06088, Special Collections Research Center, University of Chicago Library.The opposition ultimately failed to torpedo Davis’ appointment, but it did underscore the type of environment he would face at Chicago. As faculty members openly debated if he should even be allowed to instruct the university’s mainly white students, the administration barred him from the Quadrangle Club, where faculty regularly gathered and ate lunch. In a private letter to him, the university made clear that it “cannot assume responsibility for Mr. Davis’ personal happiness and his social treatment.”As time wore on, such overt racism did begin to ebb or at least confine itself to more private quarters. What never did subside, though, was an equally pernicious institutional racism that marginalized Davis’ accomplishments and rendered him professionally invisible.As Davis collaborated with renowned white scholars at Chicago, his contributions were submerged under theirs – even when he was the first author and chief theorist of the work. When Daniel Patrick Moynihan, writing for Commentary magazine in 1968, failed to count Davis among his list of black scholars who studied black poverty (even though Davis was among the most prolific black scholars in that area), he registered the depth of Davis’ marginalization. Such marginalization, which stemmed also from Davis’ interdisciplinary approach and iconoclasm, has caused even historians to lose track of him and his important career.Davis was ensnared by the racism he studiedEven the most exceptional African-Americans have never been able to transcend the racial system that ensnares them. Davis’ appointment did not usher in a new era of integration of faculties at predominantly white universities. It took another three decades for substantial numbers of black scholars to begin receiving offers of full-time, tenure-track employment. And because of the vastly disproportionate rates of poverty, incarceration and municipal neglect plaguing the black community, jobs in higher education often continued – and still continue – to be out of reach.Few people better understood, or more thoughtfully analyzed, these very realities than did Allison Davis. This was a man who laid bare the systems of race and class that govern American life. He understood that education needed to be a bulwark for democracy, not merely a ladder for individual social mobility. He embodied how to confront injustice with sustained, productive resistance. Moreover, this was a man who refused to surrender to despair, and who chose to dedicate his life to making the country a better, more equal, more democratic place. Please enter your comment! You have entered an incorrect email address! Please enter your email address here TAGSBlack History Previous articleCookies and Milk with a Cop this weekendNext articleBreaking News: New Errol hearings put on hold Denise Connell RELATED ARTICLESMORE FROM AUTHOR Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 center_img LEAVE A REPLY Cancel reply Please enter your name here Support conservation and fish with NEW Florida specialty license plate The Anatomy of Fear Save my name, email, and website in this browser for the next time I comment.last_img read more

Pereiras Polydrop House / Produção de Arquitectura

first_imgArchDaily Pereiras Polydrop House / Produção de ArquitecturaSave this projectSavePereiras Polydrop House / Produção de Arquitectura Houses Area:  1883 ft² Year Completion year of this architecture project “COPY” Projects Year:  ShareFacebookTwitterPinterestWhatsappMailOr Clipboard ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Photographs:  Luis da Cruz Manufacturers Brands with products used in this architecture project Architects: Vasco Lopes Arquitectos Area Area of this architecture projectcenter_img Pereiras Polydrop House / Produção de Arquitectura Save this picture!© Luis da Cruz+ 31Curated by Matheus Pereira Share 2020 Photographs CopyAbout this officeVasco Lopes ArquitectosOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesQuarteiraPortugalPublished on June 20, 2020Cite: “Pereiras Polydrop House / Produção de Arquitectura ” [Casa Pereiras Polydrop / Produção de Arquitectura ] 19 Jun 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodHow to Design a Façade with AluProfile Vertical ProfilesGlassMitrexSolar GreenhouseMetal PanelsAurubisOxidized Copper: Nordic BrownDoorsEGGERWood Laminate Doors in Molecular Plant Science InstituteStonesCosentinoSurfaces – Silestone® Nebula SeriesWall / Ceiling LightsLouis PoulsenLamp – LP RiplsWood Boards / HPL PanelsBruagRoom Dividers – Partition Wall MDFStonesNeolithSintered Stone – Mar del PlataWindowspanoramah!®ah! SecurityPanels / Prefabricated AssembliesULMA Architectural SolutionsMIS Facade PanelCarpetsFabromont AGTextile Floor Covering – Orbital® 07 COLORpunkt®LightsNorka lightingLuminaire – BelfastMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Manufacturers: Argenta, Weber, Aguamarina, Navarra Caixilharias de alumínio, Sanitana, VeluxProject Team:Vasco Lopes + Helena Portela + Amadeu de SousaEngineering:Peça 21Collaborators:Helena Portela + Amadeu de SousaCity:QuarteiraCountry:PortugalMore SpecsLess SpecsSave this picture!© Luis da CruzRecommended ProductsFiber Cements / CementsULMA Architectural SolutionsPaper Facade Panel in Leioa School RestorationFiber Cements / CementsRieder GroupFacade Panels – concrete skinDoorsStudcoAccess Panels – AccessDorDoorsSolarluxBi-Folding Doors – EcolineText description provided by the architects. In a semi-rural surrounding land with a relatively accentuated pendent, the client requested a small house with a living room open to the kitchen and an en-suite bedroom.In order to create two small compartments it could, eventually, take advantage of the attic on the roof.Save this picture!© Luis da CruzSave this picture!Ground Floor PlanSave this picture!© Luis da CruzThe result was a polyhedron built on the slope of the land, using it’s empty lower area to store agricultural tools and garden machines.Save this picture!© Luis da CruzSave this picture!Section BSave this picture!© Luis da CruzThe client has always valued two features in the construction: the roof and the attic; by converting these, we managed to bring a mezzanine and a double ceiling height to the room.Save this picture!© Luis da CruzThe initial inspiration for this small cottage was .Project gallerySee allShow lessTwosome House / Atelier RZLBDSelected ProjectsVoltaire / SABO projectSelected Projects Share “COPY” CopyHouses•Quarteira, Portugal Portugallast_img read more

Brazil: local journalists sued 11 times over municipal corruption coverage

first_img April 15, 2021 Find out more December 20, 2016 – Updated on February 1, 2017 Brazil: local journalists sued 11 times over municipal corruption coverage RSF begins research into mechanisms for protecting journalists in Latin America Since launching their website, Fala RN, shortly after moving to the town in December 2014, Francisco Costa and Josi Gonçalves have published a series of stories about embezzlement of public funds, nepotism and election fraud involving local politicians.Those who have filed the 11 lawsuits – seeking a total of more than 200,000 reais (57,000 euros) in damages­ – include mayor Jaime Calado, elected municipal representatives and municipal secretaries.As well as judicial harassment, Costa and Gonçalves told RSF they fear for their safety. One of their sources within the town council warned them of possible attempts to intimidate them, including the abduction of their four-year-old son and the use of fabricated evidence to have them arrested.According to Costa and Gonçalves, local politicians have also pressured Fala RN’s main advertiser to stop buying space on the website.“We condemn the persecution of Francisco Costa and Josi Gonçalves by the authorities of São Gonçalo do Amarante and we call for the withdrawal of all the complaints against them,” said Emmanuel Colombié, the head of RSF’s Latin America desk.“The number of complaints is completely absurd. This is an intimidation campaign designed to silence these journalists and, as such, constitutes a grave violation of freedom of expression. International standards remind that the politician inevitably and knowingly lays himself open to close scrutiny of his by the journalists and the public at large, and he must display a greater degree of tolerance”The judicial persecution is all the more unjustified because most of Fala RN’s information is taken from official and public sources. This was the case, for example, with an article in 2015 about an investigation by the federal department of prosecution into alleged corruption by municipal education secretary Abel Soares Ferreira, who nonetheless reacted with an immediate lawsuit.The same goes for a more recent suit filed on 7 December 2016 by former mayor Ítalo Vale Monte, who is seeking 35,200 reais (10,000 euros) in damages because Fala RN reminded its readers that he was removed from office after an auditing court took issue with his financial management.The current mayor has brought a total of six legal actions against Fala RN, one of them in a connection with a comment that a reader posted on Fala RN’s Facebook page. In Brazil, it is surprisingly common for websites to be sued over comments posed by readers.Brazil is ranked 104th out of 180 countries in RSF’s 2016 World Press Freedom Index. Follow the news on Brazil Reporters Without Borders (RSF) is appalled to learn that local officials in São Gonçalo do Amarante, a town in the northeastern state of Rio Grande do Norte, have brought a total of 11 defamation suits against a couple who edit a news website with coverage of local corruption BrazilAmericas Condemning abusesProtecting journalists CorruptionJudicial harassmentEconomic pressureFreedom of expression 2011-2020: A study of journalist murders in Latin America confirms the importance of strengthening protection policies May 13, 2021 Find out more News RSF_en Reports Receive email alerts Help by sharing this information to go further Organisation BrazilAmericas Condemning abusesProtecting journalists CorruptionJudicial harassmentEconomic pressureFreedom of expression News News Alarm after two journalists murdered in Brazil April 27, 2021 Find out morelast_img read more

South Pasadena Police Weekly Crime Summary

first_img More Cool Stuff Name (required)  Mail (required) (not be published)  Website  Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News Business News 4 recommended0 commentsShareShareTweetSharePin it Your email address will not be published. Required fields are marked * First Heatwave Expected Next Week December 10-16, 2014(Hundred block given in place of exact address)The Weekly Crime Summary is a list of reported auto thefts, burglaries, robberies and other activities occurring in the City of South Pasadena. An alert and well-informed citizen makes you less of a target to a criminal. Remember; call the South Pasadena Police Department to report any suspicious activity.RESIDENTIAL BURGLARY12-13-14, 9 AM to 12-14-14, 2:20 PM, 800 block of Flores de Oro. Suspect(s) smashes rear window then reach inside to unlock window to gain entry. LOSS: Cash, jewelry, checkbooks and credit cards.ANNOY OR MOLEST A MINOR12-9-14, 3 PM, 1900 block of Primrose. Victim (female, 12 years) is walking down the street when suspects drive up to victim in the opposite direction, and stop in the middle of the street. Suspects attempt to engage in a conversation with victim, but victim ignores them and runs away. SUSPECT VEHICLE: Small, gray colored, 4-door sedan. SUSPECTS DESCRIPTION: (2) Male, Hispanics,20 years, wearing short sleeve t-shirts.ASSAULTS12-12-14, 11 PM, 900 block of Fremont. Officers sees victim walking in the street and nearly hit by passing vehicles. Officers contact victim who states that she was stabbed in the side of the neck by an acquaintance (suspect). SUSPECT ARRESTED: Male, White, 47 years, South Pasadena.POSSESSION OF A CONTROLLED SUBSTANCE• 12-14-14, 4:10 PM, 1400 block of Huntington (Big Lots). Suspect enters store and employee sees suspect removing tags from watches. Employee confronts suspect and suspect leaves. As suspect exits store, store sensor alarm activates. Officers locate suspect across the street. No store merchandise is found on suspect, but suspect is found to be in possession of methamphetamine. SUSPECT ARRESTED: Male, Hispanic, 32 years, Los Angeles.• 12-10-14, 5:49 PM, 600 block of Grand. Officers respond to a fight in the street. Officers locate S1 and S2, who are found to be friends. No fight is discovered, but a backpack belonging to S1 is found and a police canine alerts officers to drugs inside backpack. Officers discover S1 in possession of methamphetamine and S2 in possession of drug paraphernalia. SUSPECTS ARRESTED: S1 – Male, Hispanic, 29 years, Los Angeles. S2 – Female, Hispanics, 30 years, South Pasadena.POSSESSION OF PARAPHERNALIA12-10-14, 2:47 PM, 1100 block of Huntington. Officers respond to a suspect possibly looking into parked vehicles. Officers locate suspect who is found to be on probation and police canine discovers suspect in possession of drug paraphernalia. SUSPECT ARRESTED: Female, Hispanic, 48 years, Alhambra.DRUNK IN PUBLIC12-15-14, 4:47 PM, Fair Oaks/Laurel. Officers respond to a possible intoxicated subject in the street. Officers locate suspect who is found to be intoxicated and unable to care for himself. SUSPECT ARRESTED: Male, White, 51 years, Pasadena.DUI• 12-16-14, 12:58 AM, 1900 block of Monterey. Suspect is stopped for a traffic violation and found to be driving under the influence of alcohol. SUSPECT ARRESTED: Female, Hispanic, 31 years, Maywood.• 12-13-14, 1:36 AM, Fair Oaks/Huntington. Suspect is involved in a traffic collision and found to be driving while under the influence of alcohol. SUSPECT ARRESTED: Male, Hispanic, 22 years, Los Angeles.• 12-11-14, 2 AM, 700 block of Fair Oaks. Suspect is stopped for a traffic violation and found to be driving while under the influence of alcohol. SUSPECT ARRESTED: Male, Hispanic, 39 years, Los Angeles.RESIST/OBSTRUCT PEACE OFFICER12-14-14, 4:19 AM, 1900 block of Huntington. Officers respond to a traffic collision. Upon arrival, officers see suspects attempting to push vehicle. When suspects see officers, they immediately run away. Responding officers locate all suspects nearby. SUSPECTS ARRESTED: S1 – Male, Hispanic 19 years, Los Angeles. S2 – Male, Black, 19 years, Los Angeles. S3 – Male, Hispanic, 18 years, North Hollywood.THEFT• 12-9-14 to 12-16-14, 1300 block of Diamond. Victim (landlord) calls to check on welfare of a tenant (suspect). Officers arrive and contact suspect and discover loss addressed to victim inside suspect’s vehicle. Victim confirms loss and did not allow suspect to take loss. LOSS: Parcel package. SUSPECT ARRESTED: Female, White, 41 years, South Pasadena.• 12-12-14, 3:30 PM, 700 block of Fair Oaks (Massage Place). Suspect is a customer and receiving a massage from victim. Suspect takes loss while victim is not looking. Suspect leaves and victim soon discovers loss missing. Officers locate suspect walking on the street a few blocks away, who is found to be in possession of loss. LOSS: Credit cards and cash. SUSPECT ARRESTED: Male, White, 40 years, Milpitas.• 12-6-14, 10 AM to 12-6-14, 10:45 AM, 1200 block of Monterey. Suspect(s) takes loss from victim’s front porch. LOSS: Parcel Package.IDENTITY THEFT/CREDIT CARD FRAUD/CHECK FRAUD• 12-16-14, 1000 block of Fremont. Suspect(s) gains access to victim’s bank account possibly through malware on victim’s computer and attempts to make three wire transfers.• 11-26-14 to 12-10-14, 500 block of Mound. Victim discovers that suspect(s) stopped their mail and used victim’s personal information to open several credit card accounts.• February 2014 to 12-10-14, 400 block of Garfield. Suspect(s) uses victim’s personal information and opens a credit card account.• 11-14-14 to 12-9-14, 1300 block of Fair Oaks. Victim mails loss and suspect(s) gains access to loss by unknown means. Suspect(s) alters loss and cashes it. LOSS: Check.For graffiti removal, call the City of South Pasadena “Graffiti Removal Hotline” at (626) 403-7249. This is a 24-hour a day recording. A written release is required prior to removal from private property. Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Herbeauty10 Brutally Honest Reasons Why You’re Still SingleHerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeautyHere Is What Scientists Say Will Happen When You Eat AvocadosHerbeautyHerbeautyHerbeautyRub This All Over Your Body And He’s Guaranteed To Swoon Over YouHerbeautyHerbeautycenter_img Community News Police, Fire & The Courts South Pasadena Police Weekly Crime Summary Published on Wednesday, December 17, 2014 | 12:50 pm Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Subscribe faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Make a comment Top of the News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDSlast_img read more

Arbitrability Of Fraud Disputes

first_imgColumnsArbitrability Of Fraud Disputes Sidharth Sharma & Abhishek Kumar17 May 2021 11:18 PMShare This – xArbitration is convenient and time efficient. It is the preferred way for resolution of disputes outside court for parties who do not want to opt for litigation. A surge in commercial disputes has led the corporate sector to have their matters adjudicated by arbitrators rather than in open courts. However, it is not immune from issues. One question which hinders the process of arbitration in India is whether Frauds are arbitrable under the Arbitration & Conciliation Act, 1996 (“Arbitration Act”). Advertisement It is a settled principle of law that all the civil proceedings can be dealt with under the arbitration act but it has not been explicitly mentioned whether the frauds relating to civil disputes will be arbitrable and the concept had to be evolved by the Courts. Earlier Position of Law relating to Arbitrability of Fraud Disputes The Arbitration Act, 1940 had no specific provisions for arbitrability of frauds and the issue was first raised in a landmark judgment by a bench of 3 judges of the Supreme Court in Abdul Kadir Shamsuddin Bubere v. Madhav Prabhakar Oak(“Abdul Kadir”). It was held by the Court that the question of fraud involved several intricacies which have to be dealt with in court. The Apex Court further placed reliance on the English judgment of Russel v Russel that “In a case of fraud, the court will generally refuse to send the dispute to arbitration even if the party charged with the fraud desires a public enquiry. But where the arbitration is by the party charging the fraud, the court, will not necessarily accede to it, and will never do so until a prima facie case is made out”. Advertisement This judgement marked the beginning of an era where frauds remained covered under the blanket exception of arbitrability for a substantial period of time. In N. Radhakrishnan v M/S. Mastero Engineers & Ors (“N Radhakrishnan”), the parties had entered into a partnership deed for the purpose of carrying on engineering works under the name of “Maestro Engineers”. Due to some differences, one of them voluntarily retired and alleged that others at the firm had been engaging in malpractice and manipulation of finances. . A Division Bench of the Supreme Court in this case held that matters of serious allegations of malpractices in account books and manipulation of finances of partnership firm cannot be properly dealt with by an Arbitrator. It thus rejected the application filed under Section 8 of Arbitration Act. The Apex Court while deciding this case placedreliance on the Abdul Kadir case, however this judgment was later severely criticized.Advertisement Advertisement Evolution of the Scope of Arbitrability of Frauds Booz-Allen & Hamilton Inc v SBI Home Finance Ltd forms the cornerstone in the jurisprudence of arbitrability of disputes. The Court classified the types of disputes and laid down grounds for determining the types of disputes that were arbitrable in consonance with the type of rights involved in the case, i.e. rights in rem and rights in personam. A right in rem is exercisable against the society at large whereas rights in personam are protected solely against one individual. Thus all disputes relating to right in personam can be settled through arbitration but the disputes involving rights in rem cannot be settled through the means of arbitration.Advertisement Advertisement Advertisement The Apex Court in Swiss Timing Ltd v Commonwealth Games Organizing Committee (“Swiss Timings”) tried to rectify the course laid down in N Radhakrishan. The court declared the judgment to be per incuriam. The appointment of the arbitrator under Section 11 was resisted on the ground of pendency of proceedings in the trial court. The court applied “Doctrine of Severability” to the arbitration agreement. It further stated that, while considering any objection with regard to the existence or validity if the arbitration agreement, the arbitration clause, which forms a part of the contract, has to be treated as an independent agreement. The lesser strength of the bench in the Swiss timing case meant it could not overrule the judgment of N Radhakrishnan, which complicated the matter. It dealt only with specific parts, and the numerous complexities regarding the different types of frauds remained unsettled. Thus, we can say that the judgment was not exhaustive and did not lay down the guidelines or provisions which could operate as a standard procedure for settlement of disputes relating to frauds under the Arbitration Act. Fraud Simpiciter and Complex Frauds The Supreme Court in A. Ayyasamy vs. A. Paramasivam (“Ayyasamy”) tried to bifurcate the types of offences into Arbitrable and the Non-Arbitrable offences. The court observed that in cases where the subject matter falls exclusively within the Public Fora, such disputes would be non-arbitrable and would be decided by the courts alone. The court further observed that every civil or commercial dispute, either contractual or non-contractual, which can be decided by a court, is in principle capable of being adjudicated and resolved by arbitration unless the jurisdiction of the Arbitral Tribunals is excluded either expressly or by necessary implication. It was held by the Court that a judge must be able to distinguish between Fraud Simpliciter and Complex Frauds. Mere allegations of fraud simpliciter would not amount to nullifying the arbitration agreement between the parties and only the cases with serious allegations of fraud should be decided by the Courts. It was further held that where allegations of fraud touch upon the internal affairs of the party inter se,having no implication in the public domain, the arbitration clause need not be avoided and the parties can be relegated to arbitration. The Ayyasamy judgment could not overrule the Radhakrishnan judgment due to the lesser strength of the bench. Thus, this case in particular tried to lay down a format, the precedential value of which would provide impetus in initiating the arbitration proceedings in the cases of simple allegations of fraud. Rashid Raza Test for Complex Frauds In Raza Rashid v Sadaf Khan (“Rashid Raza”) the Supreme Court in affirmation with the Ayyasamy judgment laid down 2 tests for distinguishing between Fraud Simpliciter and Complex Frauds. Whether the plea under Section 11 for the appointment of arbitrator permeates the entire contract and agreement rendering it void. Whether the alleged fraud was related to the internal affairs of the parties, thereby having no impact in the public domain. The Supreme Court by applying the twin test held that, there were no allegations of fraud which could vitiate the partnership deed as a whole or, in particular, the arbitration clause concerned in the said deed. Present Scenario The Supreme Court has made the Arbitrability of Frauds clearer in its recent judgment of Avitel Post Studioz Limited v. HSBC PI Holdings (Mauritius) Limited (“Avitel”). The issue arose after an order was passed under Sector 9 in favor of HSBC. HSBC alleged misrepresentation and fraudulent inducement by Avitel in order to get HSBC to invest money in equity capital of Avitel. The award was passed in favor of HSBC at Singapore International Arbitration Centre and HSBC applied for interim measures in India. Avitel contended that since allegations of frauds have been made in criminal proceedings involving serious offences like forgery and impersonation, such dispute is not arbitrable. The Court after observing the tests laid down in Ayyasamy case (also applied in Rashid Raza) laid down twin test (Public Flavor Test) and held that “serious allegations of fraud” warranting the exclusion of arbitration could arise only on the satisfaction of two tests: Serious allegations of fraud excluding the arbitration could only arise when the arbitration clause/agreement is non-existent. The allegations of arbitrary, fraudulent or mala fide conduct are made against the state or its instrumentalities, in which case, the questions would lie in the public domain and must be entertained by a writ court. The Supreme Court further held that, false representation, diversion of funds and impersonation are all inter parties and have no public flavor. Vidya Darolia v Durga Trading Corporation is the latest case in the saga of evolution of arbitrability of frauds in India. The Supreme Court while placing concurrence with the decisions in Ayyasamy, Swiss timings and Avitel explicitly overruled the N Radhakrishnan Case and held that allegations of frauds in civil disputes are arbitrable. A Four Fold test was propounded and the Court held that disputes are not arbitrable when the cause of action/subject matter of the dispute (1) relates to actions in rem, that do not pertain to subordinate rights in personam that arise from rights in rem (2) affects third party rights; have erga omnes effect; require centralized adjudication, and mutual adjudication (3)relates to inalienable sovereign and public interest functions of the State (4) is expressly or by necessary implication non-arbitrable under a specific statute. Any affirmative answer in relation to these four points enunciated by the courts would render the dispute non arbitrable. The Court further held that matters pertaining to fraud can be the subject matter of arbitration proceedings, provided the fraud does not “vitiate and invalidate the arbitration clause”, or raise questions which affect rights in rem and therefore necessitate adjudication in the public domain. The embargo imposed by N Radhakrishnan case has finally been removed after heavy legal deliberation; the Courts have now set a pro arbitration approach. Presently, the settled law for arbitrability of fraud in India is that those disputes which involve criminal elements, and which would not simply affect inter parties, instead relate to ‘public wrongs’, and have an effect in public domain are non-arbitrable. The Supreme Court has kept its protective approach intact by excluding disputes that have an effect in the public fora. The principles of arbitrability of frauds developed by the courts are conducive to arbitration, but their effectiveness is yet to be seen. There will still remain a tussle between the Courts and Tribunals with regards to the cases where there is no effect on the parties or the cases in which the effect will lie in the public domain. Thus, the courts will have to deliberate on these matters individually and this will still plague the system for a foreseeable future. Also see: The End Of A Saga- The Conundrum Of Arbitrability Of Landlord-Tenant DisputesViews are PersonalTagsSupreme Court Arbitration & Conciliation Act 1996 (Arbitration Act) Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

This week’s news in brief

first_imgRelated posts:No related photos. Previous Article Next Article Comments are closed. This week’s news in briefOn 12 Sep 2006 in Personnel Today Lottery winnerDianne Thompson, chief executive of the National Lottery, has been awarded the Chartered Management Institute’s annual Gold Medal for her strategic direction and leadership. She is only the second woman to win the award in its 25-year history.UK rest break fiascoThe European Court of Justice has ruled that the UK government’s guidance on employee rest breaks is “meaningless”. Under the Working Time Directive, workers are entitled to a 20-minute rest break if they work more than six hours per day, but the UK guidance says employers are “not required” to ensure that staff take breaks.EEF calls for skills overhaulManufacturers’ organisation EEF has called for a radical overhaul of post-16 training. The lobby group claims the skills training system in the UK is failing to address the skills gap. It recommends combining the Sector Skills Development Agency and the Learning and Skills Council and reducing the number of Sector Skills Councils.last_img read more