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State Senator Joe Leibham to not seek recount for last week's election

SHEBOYGAN, WI (WHBL) - Joe Leibham will not seek a recount for last week's 6th House District Republican primary. The Sheboygan state senator lost the four man race to State Senator Glenn Grothman by 219 votes, which was close enough to ask for a recount that would have been paid for by local government units. In a statement made Friday afternoon, Leibham said he has contacted Grothman about his decision and wished him well in the November general election.  He adds he is happy of the ...

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Hedge fund says won $72 mln claim against Dubai's Drydocks

DUBAI (Reuters) - A U.S.-based hedge fund said it has won a legal claim against Dubai's Drydocks World for defaulting on a loan, putting the ship builder's $2.2 billion debt restructuring in further trouble.

Monarch Alternative Capital said in an emailed statement that Drydocks, a unit of Dubai World , has been ordered to pay the entirety of the sum of £45.5 million ($71.6 million) claimed plus Monarch's legal costs.

"We are pleased with the judgment and fully confident in our position," a Monarch spokesperson said in an emailed statement.

Khamis Juma Buamim, Drydocks World chairman, when asked how the judgment would affect its restructuring, said:

"As made clear at all lender meetings, the company is confident that it can still implement its restructuring if it transpires that Monarch do not accept the terms on offer."

"But I would very much hope that notwithstanding their legal action Monarch will accept the very reasonable restructuring proposal."

(Reporting by Praveen Menon and Mirna Sleiman, Editing by Matt Smith)

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