What prompts Ambit Flowers ARC to raise up to $1billion – Economic Times

Ambit Flowers ARC, an asset restructuring joint venture between Mumbai-based brokerage Ambit Capital and US private equity firm JC Flowers, plans to raise up to $1 billion from global investors to invest in distressed assets under insolvency proceedings. The asset reconstruction company plans to raise $150-250 million in the first tranche, two persons familiar with…

Conman Lemuel Page driving $500000 Ferrari as creditors fight for their money – The Sydney Morning Herald

Newcastle fraudster Lemuel Page continues to live the high life flaunting his taste for fine cars. If the holidays to the Greek Islands and luxury beachfront unit weren’t infuriating enough for his creditors, they were apoplectic at Page’s latest toy: a Ferrari 458 Italia V8 worth up to $500,000. Newcastle fraudster Lemuel Page, pictured with his partner Renay Bull, has been…