In Panama, Rubio Says China Threatens Canal, Demanding ‘Immediate’ Action

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<p class="mol-para-with-font">By Chiara Elisei</p><a href=https://hostpater.com/wp-content/pgs/?legal_online_casino_australia___best_online_casino_australia_reviews___best_online_casino_for_australia___australia_online_casinos.html>best online casino

LONDON, June 5(Reuters) - A European derivatives committee said on Monday that a bankruptcy credit event has not occurred in relation to France's debt-laden Casino, dashing investor hopes for a payout on credit insurance linked to the retailer.

The EMEA Credit Derivatives Determination Committee (CDDC) met on Friday to discuss the question raised by an investor, it said on its website.

The heavily-indebted French retailer said last month it had entered court-backed talks with creditors after receiving their consent to open a court process known as conciliation without triggering a default under the terms of Casino issued bonds.

The CDDC said on Monday that in reaching its decision, it had considered previous cases including Casino's holding company, Rallye.

The committee said it had also considered features of French conciliation, noting that the process was designed to result in a full consensual agreement with creditors.

But if a partial agreement is reached, this does not bind creditors who do not consent, meaning that other ways to get them on board would be sought, it noted.</p> <p class="mol-para-with-font">Additionally, under French law, the opening of a conciliation procedure would override events of default in the debt instruments, the statement added.</p> <p class="mol-para-with-font">However, the CDDC concluded that this alone was not sufficient to trigger a bankruptcy credit event.</p> <p class="mol-para-with-font">A separate question was posed to the committee on Friday on whether a "failure to pay" credit event had occurred for Casino.

The committee has not decided yet whether to accept the question.</p> <p class="mol-para-with-font">A number of circumstances can constitute a credit event, which can trigger a payout on credit default swaps which insure against losses from exposure to corporate or sovereign debt.</p> <p class="mol-para-with-font">There were $428 million of net notional Casino CDS outstanding as of May 19, according to data from securities clearing and settlement firm DTCC.</p> <p class="mol-para-with-font">Casino has been plagued for years by hefty debt following a string of acquisitions and by declining revenue and loss of market share in an increasingly competitive domestic market.

<u><i>(Reporting by Chiara Elisei, editing by Dhara Ranasinghe and Emelia Sithole-Matarise)</p></div></i></u>
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<p class="mol-para-with-font"><a style="font-weight: bold;" href="/sport/dean-smith/index.html" id="mol-9b149840-f8e9-11ed-9ff9-a35e1dca8da3" target="_blank">Dean Smith</a> does not strike you as the gambling type but his decision to drop Leicester's two top scorers for their most important game of the season was the move of a <a style="font-weight: bold;" href="/news/las-vegas/index.html" id="mol-9af09580-f8e9-11ed-9ff9-a35e1dca8da3" target="_blank">Las Vegas</a> high roller.</p><p class="mol-para-with-font">With the Foxes' Premier League status on the line, ‘Casino Deano' made the biggest call of his seven games in charge.</p><p class="mol-para-with-font">Out went <a style="font-weight: bold;" href="/sport/james-maddison/index.html" id="mol-9b188fe0-f8e9-11ed-9ff9-a35e1dca8da3" target="_blank">James Maddison</a> - 10 goals and nine assists - and <a style="font-weight: bold;" href="/sport/harvey-barnes/index.html" id="mol-9b173050-f8e9-11ed-9ff9-a35e1dca8da3" target="_blank">Harvey Barnes</a> - 12 goals and a single assist - as Smith dispensed with finesse and went for the dogged approach.
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Five at the back, men behind the ball, scrap your lives.</p><div class="perform-player" data-tracking-id="432bdd91ecc8aae4071ce50cb5.xsohe0a9vwom1aofo5is4krre" data-related-player="true"></div> <br /> <p class="mol-para-with-font">Leicester did just that in the first half and while they offered little in attack, at least they showed some of the battling qualities so badly missing recently.
Both Maddison and Barnes were on by the hour mark with the score still level.</p><p class="mol-para-with-font">After the defeats by Fulham and Liverpool, fans chanted ‘You're not fit to wear the shirt' and sang sarcastically about travelling to Ipswich and Hull in the Championship next season. </p><div class="artSplitter mol-img-group"> <div class="mol-img"> <div class="image-wrap"> <img id="i-70cb8262be47d0cc" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" website height="423" width="634" alt="Dean Smith made a bold decision to drop two of Leicester's star players at Newcastle on Monday" class="blkBorder img-share" style="max-width:100%" /> </div> <noscript> <img id="i-70cb8262be47d0cc" website height="423" width="634" alt="Dean Smith made a bold decision to drop two of Leicester's star players at Newcastle on Monday" class="blkBorder img-share" /> </noscript> </div> <p class="imageCaption">Dean Smith made a bold decision to drop two of Leicester's star players at Newcastle on Monday</p></div><div class="artSplitter mol-img-group" style="style"><div class="splitLeft"><div class="mol-img"> <div class="image-wrap"> <img id="i-389e5fd5de7e6071" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" website height="425" width="306" alt="James Maddison started on the bench before coming on" class="blkBorder img-share" style="max-width:100%" /> </div> <noscript> <img id="i-389e5fd5de7e6071" website height="425" width="306" alt="James Maddison started on the bench before coming on" class="blkBorder img-share" /> </noscript> </div></div><div class="splitRight"><div class="mol-img"> <div class="image-wrap"> <img id="i-2f405c633e7256da" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" website height="425" width="306" alt="Harvey Barnes also had to wait to make a substitute introduction" class="blkBorder img-share" style="max-width:100%" /> </div> <noscript> <img id="i-2f405c633e7256da" website height="425" width="306" alt="Harvey Barnes also had to wait to make a substitute introduction" class="blkBorder img-share" /> </noscript> </div></div><div class="clear"></div><p class="imageCaption">James Maddison (left) and Havey Barnes (right) were both dropped to the bench for Monday's trip to Newcastle</p></div><p class="mol-para-with-font">High in the gods at St James' Park, Leicester supporters at least saw some pride from the players during the opening phase of the game - even though they needed some luck along the way, with Callum Wilson and Miguel Almiron hitting the post and Alexander Isak putting an easy chance wide.</p><p class="mol-para-with-font">If Leicester - Premier League champions only seven years ago - are relegated, Smith will ask himself why he did not take this approach in the Fulham and Liverpool games.

But really, Smith should be nowhere near top of the list when blame is being handed out.</p><p class="mol-para-with-font">What about this squad of players, good enough to win the FA Cup two years ago? What about director of football Jon Rudkin, who took his eye off the ball so much that seven players are out of contract this summer? </p><p class="mol-para-with-font">What about owner Aiyawatt Srivaddhanaprabha, who stuck with Brendan Rodgers for so long even when it was clear his reign had run its course?</p><p class="mol-para-with-font">If Leicester get out of jail from here, it will be through luck rather than judgement.

Yet with time almost run out, the players finally seem alive to the predicament. If anything gives Foxes fans cause for hope, it should be that.</p></div>
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