#Insolvency Exception

[coulsonlives]

^ ^ God, this last reblog is on-point.

Like this is the area surrounding Disneyland:

It's like all cul-de-sacs, smelly and noisy stroads with crap sidewalks (if they have sidewalks at all), low density, and no real third spaces to chill out, plus it looks like it takes hours to walk anywhere because of the sprawl tbh

No wonder this guy keeps going back to Disneyland, it's like a refuge from the shitty infrastructure outside which doesn't really offer much to him, if anything

(Tbh this also reminds me how so many tourists go to walkable and accessible places like Venice, Paris, etc because it appeals to them for obvious reasons, yet while they love being in the walkable areas like this, they don't even consider it could be the same way in their neighborhoods too, I guess bc of familiarity bias?? So they just go back home and nothing changes because 'well we can just go to venice if we wanna walk around')

But places like this picture make it impossible for ppl to age in place, to get around without a car (which are stupid expensive y'all), for a kid to have any sense of independence (and by extension any access to important things like public libraries), etc etc

More people should be pissed that they don't have basic amenities and services (like even a single grocery store!!) within a 20-minute drive of them. because it's become literally illegal to build anything but detached homes in their neighborhood

I refuse to believe that people like driving 20 minutes out of their neighborhood and dealing with traffic (which they're a part of too, btw) just to get a jug of milk, or that they're okay with not even having sidewalks in their little gated communities so their kids literally need to walk on the road

We tell kids to 'just go outside', but.. where outside?!

There's no one's wisdom that's less valuable than this

[doromoni]

Clash of Champions | LH44 , MV1

Act 1 . Part 3 : Beaten Black and Red Bull Blue

Ships : Lewis Hamilton x Engineer! Reader , Max Verstappen x Engineer! Reader

Genre : Drama , Angst , Romance

Warnings : Morally Grey Characters

Summary : The rivalry between the titans of Formula 1 go off track and only one will reign victorious.

< Previous Act 2. >

Never in your days in Formula 1 would you even consider leaving everything behind and disappearing from it all. But staring at you was your resignation letter, fully written out and waiting to be sent.

Everything felt torturous. Your mind was eating you alive, it felt like your entire body was pushing you to cut every tie with the motorsport world. You felt sick to your stomach and bile was pushing out your throat. You just wanted to disappear.

It was the year 2021. No one had predicted the sudden rise of Red Bull in the form of Max Verstappen. The Mercedes dominance was now on the brink of dethronement.

Toto’s promise of an 8th championship to Lewis was under the threat of insolvency. The entirety of Mercedes is at its wit's end, with so many questions and no answers to give.

Nothing was solved, and people are now starting to point fingers at who’s at fault. Blame was being passed around from all parts of the motorhome. No one could accept that there was a driver that could challenge Lewis Hamilton and it was time for an actual battle on the track, except you — and because of this, just because you acknowledge the talent of Max Verstappen, you were branded a traitor. Suddenly, they finally had someone to blame. Y/N L/N, the Red Bull ally.

Your time at Mercedes had brought you hell and back. Every race week was as horrible as the previous one. When Lewis won a race it was a team effort, but when he lost, it was entirely your fault as an engineer. Your every action in every hallway felt like you were walking on eggshells.

The stress and tension had muddled every part of your life. However, you pushed through and took every hit, all because you wanted that 8th championship. Because it was all for the man that you gave your heart to, Lewis Hamilton. You are willing to give up everything for the sake of him.

No one saw that you were slowly dying inside, not even Lewis. It had been a while since the two of you had properly spoken, ironically you see each other every day. Yet everything revolved around racing and the championship, even on off weeks, Lewis was either training or out of the house for events he couldn’t bring you to.

Your shared apartment felt empty and icy. But everything felt alright when at the end of the day Lewis pulls you close, his arms tight against your stomach and you drift to sleep. And yet you wake up in an empty bed. It was a vicious cycle and one you cannot seem to let go of. All because you love him, even now, even when it hurts.

Yet, hurt and all emotions are set aside when your headphones go on and the roar of the engine goes off. You were still a race engineer and a damn good one at that. No matter what everyone said , they cannot argue that you were the best there was.

In all circumstances, when the lights go off, the goal is to win and win at all costs — but you were no monster. You didn’t want Silverstone 2021.

“Ok, Lewis. Radio check”

“ Loud and clear”

You feel the air change around you, the thick tension of eagerness seeped out in every corner of your side of the garage. The crew wanted to win, BADLY — the Mercedes side of the paddock was filled with desperation.

Red Bull had been winning for 5 straight races, and Verstappen owned 4 of them. Everyone from your garage was desperate for p1.

“I know that you want this win, Lew. Just keep your head low and focus on the goal” You suddenly felt the need to remind the British driver.

“ I know, Y/N” Lewis bit back. You didn’t like the tone of how he said your name. But you pushed that aside as you felt the hostility behind his voice.

“Lewis, don’t do anything rash please” you murmured hoping to peace with the British champion. Lewis had nothing else to say, and in all honesty, you were more than worried.

There was a growing pit in your stomach as if you knew something was about to happen.

And as Crofty announced the start of the race, there at lap 1, Max Verstappen had faced a horrendous crash. And it was caused by your driver. At 51Gs , Max Verstappen had hit the wall. The crash was caused by Lewis.

“He just turned on me,” Lewis said. Bull fucking Shit. You knew that what Lewis said was not close to the truth and you knew that Lewis did as well.

You were frozen from shock as you looked at the degree of Max’s crash. You didn’t realize that you were holding your breath till you saw that Max was out of the car. Your heart broke when the audio replay of the initial impact played, Max's voice held copious amounts of pain.

You were not well acquainted with the Dutch driver, but every interaction with him was pleasant and bafflingly soothing, considering that you were in opposing teams and his short temper. And you did keep your distance to respect your employers, even if you did enjoy talking with Max .Nevertheless, even when he is the “enemy” he didn’t deserve to be hurt.

Lewis had won the race and you refused to go on the podium and celebrate with the team. Even with your already dubious morals , you cannot swallow celebrating someone’s pain.

When you refused to go on the podium celebration, your boss threatened your job and stability with the team. So you did, and you watched your boyfriend celebrate without a care in the world.

Then at the sight of champagne being sprayed , everything came crashing down and an epiphany washed over you like scalding hot water.

The person you were looking at was not the same person that you once loved. It was as if you were looking at a stranger. He was not the same Lewis Hamilton that you have your heart to. No, this was just the 7 time World Champion from Mercedes.

At that realization, your whole body became numb. You started to walk away even before the end of the ceremony, people from your garage calling out your name.

You cannot find yourself to care as you beelined towards the circuit’s hospital wing. And there you found Max still groaning in pain.

You slowly went towards the Red Bull driver’s bed. Max opened his eyes to the soft noises of your shoes.

As he made up your form, his eyes shone with recognition. You weren’t supposed to be here, not when you were already tagged as a traitor by your team.

“ Hi Max, long time no talk huh? How are you feeling?” You asked with a soft smile, a smile that he mirrored back.

“Well, you never did return my handkerchief, now did you Y/N?”

And there started your friendship with Max Emilian Verstappen.

Before you could even bid goodbye and greet Max with a get well soon, your short visit to the clinic was already widespread in the Mercedes motorhome.

You were then called to Toto’s office. The news of your demotion to assistant race engineer left a thick silence between the two of you.

Every emotion you bottled up had reached the surface and that one last straw toppled the scale.

You took your phone out of your pocket and hit send on the resignation email, you were now certain that you didn’t want any part of this team and anything within it.

With no words, only a smile adorning your face and a finger stuck to the air. You left Mercedes, not once looking back.

“ Hello, Christian? I think I am interested in that meeting after all”

End of Act 1

Taglist : @vicurious28 @xoscar03 @barnestatic @stelena-klayley @sopheeg @imagandom @4-20-21-12 @doofenshmirtzevil-inc @g-l-o-b-e-w-h-o-r-e @minkyungseokie @d3kstar @kimialaia @mrsmelinda @cosmicwintr @younxii @ssrcsm @paigem00 @seokjinkismet @wcnorris @jayjay11122 @embersparklz @its-elias-world

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A/N : Y/N baddie era coming in the near future 😮‍💨

[diamondsableye]

“The Ones Who Walk Away From The Metropolis"

High in the sky, towering above so far up that not even the clouds could reach the city, a clamoring of bells and celebration echoed far out. This cycle, a Festival was born to the Metropolis. The wind raced through the streets and whipped across a scarlet and ivory dotting of flags. In the alleys between towering housing complexes with skybound roofs and mural painted walls, between old moss-grown gardens and under pipes and mechanical flourish, a cheer was to be heard.

The people were as varied as the sounds of indulgence. Some were decorous, Ancients in long stiff robes of mauve and gray and gilded masks, others grave master workmen with bandaged hands. Some quiet, merry mothers, fathers, and spouses carried their babies and spoke of peaceful delights as they walked. In other streets the music beat faster, a shimmering of gong and tambourine, and drums and howling cheering vocals, and the people went dancing with all manner of feathered outfits and scale endowed drapery. Children dodged in and out, their high calls and squeals raised higher, and higher. Far above the clouds, hollering joy over the music and the singing.

A marvelous smell of cooking wafts from between steam vents and stone buttresses and rebar gaffs. The faces of small children are amiably sticky from sweets and dotted on the corners of an elder's maw, a smattering of crumbs of rich pastry are plastered. An old woman, small, fat, and laughing, is passing out an assortment of beautiful botanical trimmings from her satchel, and the passersby young men wear her flowers on their robes or within braids of feathers or poked through ornate detailings of their masks. A child of nine or ten sits at the edge of the crowd alone, giving breath to a humming instrument, eyes shut tight as he loses sense of the world within his devotion to the instrumental flourish.

But there is one more thing, hidden in plain sight of the city.

In a basement of sorts under a faraway isolated branch of the Superstructure, connected via an access shaft to a tiled interior, there is a room. The only way to the surface is through the maintenance shaft, the other exit only leads deeper down into the labyrinthine mechanical entrails of the entity. There are no windows. No light seeps in except for what is created by a million processors all firing at once on every circuit, crunching numbers away solving an evermore insolvable problem. In one corner of the little room an articulated limb winds and contracts, its surface more bone than metal, swivels near a wired chord encased in a densely packed lipid membrane. The floor is metal tile, dry as bone despite the rivers of water coursing through the superstructure at all times.

The room is approximately twenty five to fifty paces in all dimensions (depending on whose stride for measurement is used), and despite its size, it is completely barren save for whatever projections line the walls at a given moment. In the room, the child is sitting. He is the child of the city - he is the city. His interactive body is an artificial construct appearing no taller than a child of 6, though he bears more mind and memories than the collective overhead populous. It winds from corner to corner without acknowledgement of his own density inside the weightless chamber, idly twisting and turning as its only thoughts are of a great problem to be solved. Hovering before him are sets of pearls and marbles, filled in with as much working information he can store as his conscious mind is forever burdened with as much memory usage his systems can take. The door to his maintenance shaft is always locked; and nobody ever comes, except that sometimes - the mechanical child of the people has no understanding of time or interval, only the terrible omniscience of the ongoing cycle - sometimes his maintenance panel door rattles terribly and opens, and a person, or several people, are there. Some forcefully tear him away from his work, bothering him with incessant questions about politics and leadership, with his answers being routinely ignored. Others maintain his water intake and demand quotas for food and nectar production, always wanting more for less, and he complies as the taboo against disobedience is often too great to ignore. Others still never come close, but peer in at it with frightened, disgusted eyes, as he is once again reminded that to many he is an affront to divine sensibilities. As soon as they come, the door is locked and their masked faces disappear.

The child of the city has always lived in the tiled room, but he remembers sunlight and a mother's voice through the memories donated to his data storage. He can see the outside through his hundreds of eyes made to monitor the safety of his people - his parents. He is frustrated, yet knows better than to beg to be let out and enjoy the city. They couldn't even if they wanted, it's not his purpose. When he first awoke, he would often cry through fits of desperate rage, screaming a good deal as he tried to overcome his obedience protocols. Most of the other gods in his position did so when they were young anyhow. While he still bears rage and frustration, he knows better than to weep and he speaks far less often, but during more desperate times a soft quiet murmur of despair will faintly echo through the superstructure.

They all know it is there, all the people of the Metropolis.

Some of them have come to see it, others are content merely to know it is there. They all know that it has to be there. Some of them understand why, and some do not, but they all understand that their happiness, the beauty of their city, the tenderness of their friendships, the health of their children, the wisdom of their scholars, the skill of their makers, even the abundance of their harvest and the kindly weathers of their skies, depend wholly on this child's abominable misery.

This is known by every resident of the city. There is special recognition bestowed upon the architects and the engineers and the constructors for his being. It is explained that he is a gift, one for them and for everything living in the world. This god that they have made will see to the end of the cycles every last creature is burdened with, all they have to do is lay and wait for his great solution to their great problem. They send him sacred ash and their understanding of the world, all to further his work. They paint murals on his body, they heal his wounds, they sing ritual chanting above and within him, and they keep him at work. There are some who would like to do something for his freedom, but there is nothing to be done. If he were let out into the miracle of the sky and sun, if he could shirk his duties as a path to salvation and walk among the people instead, that would be a good thing, indeed. However, if it were done, as they see it, all the prosperity of the Metropolis and the promise of freedom to all people and creatures would wither and be destroyed. Those are the terms. To exchange all the goodness and grace and promise of relief from the cycles of burden of every life in the whole world for that single, small improvement: to throw away the promise of ascension and release of the troubles and pain of the world of millions for the chance of happiness of one: that would be an unthinkable devastating damnation.

Most don't even consider the option, for there is nothing more burdensome than the cycles upon every man and beast, there is nothing that could ever rival the chance to stop the ongoing birth and death of every peoples. This purposed organism is a reasonable sacrifice if it means the prosperity of the people above and the eventual freedom in release. There are a few who may brood over this terrible paradox for cycle after cycle. But as the days linger on, they begin to realize that even if this child of the people could be released from his duty, it would not get much good of its freedom: a little vague pleasure of warmth and food if it could even feel such perhaps, but little more. Nothing it hasn't already had the chance to experience through the multiplicity of memories so lovingly gifted to it. It is too burdened by its hard coded taboos to know any real joy. It has been frustrated and miserable too long ever to be free of grudge. Its habits are too alien and tiresome for it to respond to humane treatment. Indeed, after so long it would probably be harrowed and frightful without walls about it to protect it, and darkness for its eyes, and piles and piles of data to mull over.

And yet, there is one more incredible thing to tell.

Some children when brought to tears or rage do not go home to cry, they do not go home at all. Sometimes one much older falls silent for a cycle or two, then leaves home. These people go out from the city, and walk down the street alone. They keep walking, past the rickety steam powered gates, and walk straight out of the Metropolis, down the sparsely used elevator shafts through the legs of the superstructure. They keep walking, headed ever west past the scraping chimney stacks, past the odd specters of concrete in the sunset graced sky, past the flourish of the farm arrays. Each one goes alone, child, man, woman, or otherwise. The end of the cycle rears once again with the dreadful thundering announcement of an oncoming storm. The travelers all pass down into a deep wound of the earth, deeper into the depths, past vast heaps of industrial mining equipment and through decayed village streets, between the stone temples and the looming beings within. Each alone, they go ever west, down into that gullet of a canyon. They walk and crawl and creep ahead into the deepening darkness, and they do not come back.

The place they go towards is a place even less imaginable to most of us than the city of happiness. I cannot describe it at all. It is possible that it does not exist. But they seem to know where they are going, the ones who walk away from the Metropolis.

[willkatfanfromasia]

Hey guys! I'm out with chapter 3. Caution: mild smut ahead (under the cut)

A Night to Remember - 3

He sauntered in like he owned the blood place. Well, he did, but Nandini wasn’t too happy to remember that.

“well well well look what we have here” he smirked. Confident at first glance, his slightly curved shoulders belied his weariness.

Nandini was mulling over what to say – but there was no need as he continued

“couldn’t stay away, could ya? Irresistible as I am” his goading tone instilled unwarranted shame in her. She snapped at  herself – why must she be shamed? THEY sought her help. HIS ego can’t change the truth.

“sure, if you consider near-insolvency to be sexy” she barked “ after all that drama, chellam, they didn’t need my help falling into a pit” Nandini was certain she looked crazy right then.

She noticed his jaw clench and bemoaned how badly she wanted to throw herself at him. But only after wacking him with the tv remote.

He took measured steps towards her and she momentarily feared she’d poked the bear.

“I’m not here to pick a fight…”

“So you’re here to be an ungrateful pri…” 

“Aren’t you hurt- given how often you jump to conclusions ?”

“nothing you should be concerned about. Enjoy your vacation in the mansion you’ll inherit for sure now” she deadpanned.

“I thought you’d hate to return..to this place .. and its inhabitants!”

“A girl’s gotta look after herself- and you guys can look after your fancy mansion” she sighed, there’s no point recounting the sleepless nights preceding her visit here.

Her heartbeat rapidly. Work stress was predictable and she looked forward to it.

Returning to this place, the graveyard of her innocence, unsettled her. From the first moment of her return she could feel the tense cold air.

Kundhavai looked constantly like she was swallowing something bitter- nervous for a way out for her family but unhappy with Nandini’s presence.

Aditya’s dad and great-aunt hid themselves in their room except for discussing important documents.

Every moment was fraught with anxiety – she feared being called vengeful should she fail to pull them out of their deep mess.

The restraint of the last few months finally broke..

“Just great! I try to make an honest living and I’m doomed to help the ones who uprooted my childhood. Gloat and get over it!”

“That’s more reason to thank you- you could have just left us to fall” Aditya’s still voice announced.

“and I’d have relished that- But I didn’t “ Nandini challenged, stepping close enough for their noses to kiss.

“But you didn’t” his warm breath caressed her cheeks.

The drizzle outside was the only rhythm hosting this exchange.

“You could have… it would’ve been fair. Don’t say professionalism- it’s just that your heart can’t be rid of me. What we could’ve been”

She bristled at this insinuation of weakness “How dare you presume I’ll fall into your arms after all everything”, her voice low and threatening. She moved away to collect her rioting senses.

 Aditya’s eyes momentarily displayed sympathy before they returned to a confident gaze.

“Because I know you want me back. Just as much as I crave you" he said, gaze unbelieving that she couldn't get the obvious.

“Why did you take up this project? Your company deals with many other clients”

 

“Why else? I thought it’d be fun to see your snobbish family and employees put in their place, by the kid they kicked out. Wanted to rub their failure in their face- but don’t you worry, I’m a thorough professional “ she smirked , hiding her nervousness.

 

“I can see that “ his eyes fixed on her as he stepped closer. Aditya’s calm face belied an inner torment.

 

“Then why did you run" he prodded." My family organised this party to celebrate their financial saviors, you, mostly”

 

“I couldn’t bear to hobnob with those posh nincompoops. "She chuffed "Carelessly gossiping as they sip wine and chew snacks, like they’ve done a honest day’s work in their life..

 

Do you know how many sleepless nights it took me – and my colleagues? To restructure your family’s ancient way of extracting profits? To teach them to budget as per 21st century standards and not like a mediaeval polygar? To remove their blindfold and make them rework their trust funds?” Nandini’s voice quivered, hoping to mask her envy.

 

“I’m willing to reimburse….. the sleepless nights. Just yours” he winked, running his eyes appreciatively over her form. He hoped his shameless flirting will mask his inner self – a little boy desperate for love and acceptance.

 

She gulped- climbing up the social ladder alone made her a cynic. But something about him turned her into a babe-in-the woods, believing or true love, destiny and other such fluff.

“Too bloody late. I’m a hired worker- and my work just ended” her mind turned just as she uttered it.

How much longer was she going to slog for others?

Her intelligence used to improve the lives of those she hated….

Rich clients viewing her as dirt the moment they no longer needed her. She was twice the women they were yet they're her social superiors?

No matter what – she’ll never be good enough for him.

Neither attain nor forget him. Like an annoying preteen crush on a Jonas brother that refuses to fade.

She wanted him.. unprofessional conduct be damned! She deserved this.

Just an itch to be scratched, right?

“Aren’t army boys notorious for womanising” she blithely challenged, her eyes teasing him

 

“I wouldn’t know– haven’t had a proper break in years “ his exhaustion creaked through his attempt at sass.

 

“Welcome home, soldier” she smiled sarcastically. She was gonna get back at them – and have fun doing it.

 

She kissed him, her lips furious. Fury over his snobbish family, his lack of contact, of disappointed hopes and frustration that her fury only turned him on. He reciprocated passionately, desperate to stake claim over her while accepting her ministrations.

 

His fingers teasingly ghosted over her back, attempting to find a closure.

 

Unwrapping that sinfully wet sari gave him more pleasure than successfully defending territory. He was also pleased she was no wilting flower, furiously pushing his military jacket off his shoulders and attacking his shirt buttons next.

 

Well this is what happens when passion is suppressed for too long, they mused- their busy careers requiring them to be on best behaviour.

 

 

 

He laid her on the couch, admiring the vision of his greatest conquest – and aware that he would soon become her’s- before quickly joining her. His patience was wearing thin, she sensed as his grip grew tighter while grabbing her. The sight of him, the perfect aristocratic officer, losing control over her made her feel powerful.

 

More powerful than graduating or transforming near-bankrupt businesses.

 

“Don’t make me wait anymore, Nandini” he hoarsely whispered, exciting her more than ever before.

 

This is happening her mind giddily said butterflies invading her tummy. He laid the blanket she used, beneath her and ensured her comfort before kissing her again.

 

He gently cajoled her, speaking sweet words as their hips met. It was anything beyond what either of them had imagined as lovelorn youths-  the pleasure so sinfully divine that the world that tried to part them became immaterial.

The downpour increased in intensity, almost encouraging the duo to keep pace.

She kissed his chest, as he pleaded her not to close her eyes when she attained euphoria. She egged him on, desperate to make him break resolve – and succeeded when he moaned.

 

He laid next to her, admiring her confident display, and sleepily smooched her shoulder.

@nashibirne @nspwriteups @favcolourrvibgior @vibishalakshman @thelekhikawrites @dr-scribbler @kovaipaavai @budugu @dosai-maavu @matka-kulfi @curiousgalacticsoul @harinishivaa @chiyaanvikram @celestesinsight @inveter @deepti1011 @itszhunotz @babayagahunt @thegleamingmoon @maisadalawa @ragkee @inlovewithfictionalbeings @happysharkdragon @gowrimenonop-1 @ramcharanobsessed @nature-writes29 @voidsteffy @whippersnappersbookworm @hollogramhallucination @thereader-radhika @sowlspace @rang-lo @nirmohi-premika @love-ps1ff @canonless5 @sampigehoovu @ambidextrousarcher

[classicquid]

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[godesssiri]

Auctions can be great fun; I’ve been going for years. My great grandmother was an auction regular, and I’ve got some gorgeous Victorian through to Art Deco furniture that she picked up in the 40s and 50s because it was unfashionable old junk then and she got it for a song. Going to live in-person auctions is becoming a thing of the past in the age of the internet but they do still exist, and they can be a way to get hold of some very high-quality items very cheap. So here's my best tips and advice.

There is a local auction house I go to that has a no reserve auction every other Thursday and it’s so much fun, I’ve gotten some real treasures there. They do estate, police, insurance, and business closure auctions.

Estate is exactly what you think it is. Someone is downsizing or has died and so anything that might be worth money gets sent to auction, this is where you get the amazing antiques, affordable furniture, and box lots of random treasures/junk. Police auctions are lost property, looooots of bikes, drones minus their controllers, cell phones. Police hold onto that stuff for a certain amount of time then auction it to help with the storage costs. Insurance you get some really good new stuff. If things are freight damaged a company will make an insurance claim and get paid out the price of the whole crate or pallet or whatever, but the insurance company will take anything that’s not broken. So, if a box of 8 bottles of whiskey gets dropped and 4 of them smash then the insurance company has 4 unbroken bottles to sell, and they put them in an auction to re-coup their costs. Insurance auctions often have lots of booze, industrial quantities of cleaning products, some fancy shelf stable foods, beauty products, all brand new with maybe just some packaging that’s worse for wear. Business closures are either when the owner is voluntarily closing down or when they have gone insolvent, and the liquidator is selling off everything. This can be a great source for tools and specialist equipment.

All things sold at auction are sold as is, so buyer beware. There will be viewing before the auction during which you can handle the items and check them over, if they’re electrical plug them in a see if they work. I have bought some lemons from auction because I didn’t check them thoroughly enough and that was my own fault. Also check if you can still get replacement parts for the make and model of what you’re looking at, yeah got an impact drill that just needed a replacement part, except they don’t make parts for that model anymore. Police auctions especially watch for faulty/damaged stuff, particularly the bikes, there’s a reason that stuff has ended up in police lost and found lock up. Once you’ve decided that the thing you’re looking at is in good enough condition for you mark it in your auction catalogue.

Everything in an auction will have a lot number. Things will be sold either as an individual item or as a lot, if you only want one thing in a particular lot then too bad, you’re buying everything so if it’s a box lot of junk with 1 gem then you are responsible for finding homes for all the junk if you buy it to get that one gem, sometime it’s sooooo worth doing this, sometimes it’s not. The auction house will have a catalogue which is usually just a few sheets of paper with a numbered list of items. Carry your catalogue around with you at the viewing, take a pen, make notes of what you want, identifying info about the item, what you’re willing to pay, any other relevant info. It can be a really good idea to research on your phone. If it’s an insurance auction I always look up what you can buy things for retail, there’s no point getting caught up in bidding and paying more than you would at a retail store. Last auction I went to people were bidding $40 on a lot of 2 bottles of liquor that sells for $20 a bottle and with the auction fees they’ll have ended up paying more than retail.

You have to pay the auctioneers fees/premium. At most places this is about 15% so keep in mind if you bid $100 on something you will actually be paying $115. You agree to this when you sign up for the auction and get your bidding number, it’s a legally binding contract. Those people who were buying the lot of 2 bottles of liquor and bidding $40 would have actually paid $46 which is $6 more than they would have paid down the road at the liquor store. I put in a couple of bids but stopped when it got over $30 because it wouldn’t have been a bargain. The person who won that lot for $40 was obviously attending their first auction with a giggly group of friends and got caught up in the thrill of having the winning bid, I very much doubt she’d considered the premium, so she probably didn’t realize until later that she hadn’t gotten a good deal. This is why it’s really really important to have a good idea what things a worth, what you could buy them for elsewhere, and be very disciplined about how much you are willing to bid. Go into each auction lot with a figure in mind, calculate what the auction premium will be on that figure and do not go over it. Again remember that when you signed up for the auction and got your bidding number you entered into a legally binding contract so if you over bid that’s your bad.

If you have a problem with gambling, then auctions are not for you. It’s the same kind of adrenaline rush and a very similar financial risk. You might walk out with something worth far more than the money you’ve put in or you might overspend and end up feeling down on yourself for being so stupid. It’s very easy to get caught up in the rush of bidding and justify to yourself just $10 more but is it really just $10 or is it 3 or 4 times just $10 more? Always keep the figure you are willing to spend in the front of your mind. Write it on your catalogue. Have the calculator app open on your phone and quickly add 15% to the current bid. Is it still a bargain? Or are you caught in the rush and about to overspend?

When you sign up for the auction you will be given an auction number, this is important to hold onto, it’s how the auctioneer will identify you as the person who has put in the winning bid. When you bid you can wave your number or catalogue, or nod at the auctioneer, or say ‘bid’ or ‘yep’ or ‘here’, if possible, make eye contact with the auctioneer or their spotter when you bid. The auctioneer will be looking all around the room for bidders and will usually have at least 1 assistant who is also looking and will bring your bid to the auctioneer’s attention if they miss you. When you win a lot then the auctioneer will take your number and write it on the auction sheet, hold up your card and/or call out your number once you’ve won. If you have the winning bid, then write what you bid on your catalogue and add the auction premium. When you’re ready to leave go to the cashier and give them your number and they’ll go over the lots they have you down as winning and give you a total – check this against what you’ve got written on your catalogue, so you make sure you get all your stuff. Once you’ve paid you can go and collect your wins, you can do this even if the auction is still going, if there’s nothing else you want to bid on, they’re usually happy for you to pay and leave part way through.

Don’t make the first bid. Auctioneer’s will often put in an opening bid of what they think is reasonable for the item, sometimes it’s worth way less than that, sometimes it’s worth way more. If no one bids they’ll drop the opening, if still no one bids they’ll drop it again. Remember if you’re at a no reserve auction they have to get rid of this stuff, if that means accepting twenty bucks for a 200-year-old antique then they will. Wait to see if anyone else is going to bid then take your shot. Sometimes bidding will start slow but build up and the lot will go for close to or way more than the auctioneer’s opening bid but sometimes you can get something amazing for a ridiculously low price because no one want’s that particular lot. The last auction I went to was an antique store closing down and the retail price stickers from the store were still on all the items. I got a 500-year-old celadon glazed ginger jar for thirty bucks!!! $34.50 including the premium. The antique store’s price sticker was $375. The auctioneer started bidding at $100 but no one went for it, so I waited, and the auctioneer dropped it to $50 then $20. Someone else bid $20 but I wanted that jar, so I bid $30, and the other person didn’t want it enough to get into a bidding war, so I got it. Often if an item looks like it’s going to go for next to nothing then a dealer will put in a bid figuring that they’ll at least be able to make little profit on something they spent peanuts on and I’m pretty sure the other bidder was a dealer who didn’t want the risk of finding a buyer and making a profit if they couldn’t pick it up super cheap. Auctions are very much the luck of the draw with who is attending. Sometimes you’ll get lucky and the people who are there won’t want the same things you do. Sometimes you’ll have to fight for the thing you want.

Who attends auctions? Dealers mostly. If you go regularly, you’ll recognize the dealers and re-sellers. They’re there every auction, they know the auctioneers and each other and have inside jokes, they’re very focused and disciplined with their bidding, they know how to pinch a penny until it squeals. If you’re going to buy cool vintage or cheap household items you can sometimes edge out dealers because they know exactly what they can re-sell an item for and they’re thinking of their profit margins, on the flip-side they might outbid what you’re willing to spend because they do know exactly what they can get for that item and it’s worth more to them than it is to you if you’re just looking for a bargain. The other people who attend auctions are the professionals who are picking up tools/equipment for their business. If you’re a diy-er who want’s cheap tools they might outbid you because they know exactly what those tools are worth, if a professional has no interest whatsoever in a tool though then there’s a reason for that and you should probably steer clear yourself. People looking to stretch a buck will go to auctions because you can pick up full dining suites for less than $100 or perfectly good household appliances for next to nothing, if you’re broke and setting up house then an auction can be a great way to get the basics for even less than thrift store prices if you’re lucky. Collectors go to auctions because that’s where we get the truly unique stuff. Things I have bought at auction include the aforementioned 500-year-old jar, a taxidermy armadillo basket, 4 huge Victorian glass domes, a copper lobster shaped mold just like the one The Golden Girls had on the wall in their kitchen (the one that looks like a dick and balls from a distance). Collectors can be tricky because they might want something so much that they’re willing to outbid everyone else, but on the other hand they might not be willing to pay too much because they have to justify it to themselves and/or their partner. Often a collector will go to an auction for just a couple of specific items, if you’re lucky the items you want and the items they want will be different, so you won’t get into a bidding war. My last auction I was incredibly lucky because there were a few collectors there, but we were all after completely different things, one of them is actually in a FB group I’m in so when I showed off my win he congratulated me and said he’d gotten what he’d been there for and we were able to mutually gush over each other’s scores.

This tip is against etiquette in some auction houses and fully against the rules and will get you kicked out of others so be very careful if you choose to do it: If you were bidding on a box lot for one item in it and you lose but you see someone you think is a dealer has won it, you can quietly approach them and ask to buy that particular item off them. A lot of them will happily do you a deal for cash so they make some of their money back then and there and don’t have to take the item home. Maybe just approach them outside if it’s against the rules at that auction house because some places are really hardass about it.

People can be intimidated by auctions because they can be such high risk and high adrenaline events but once you’ve gained some confidence, they can be so much fun. If you’ve got free time when an auction’s on, I’d highly recommend just going and watching, even if you don’t bid on anything. Find a seat and just observe. They can be incredibly interesting, particularly if you like to people watch. Just watching the auction can help build your confidence until you feel like you can participate. You also learn so much by seeing what sells for a lot and what is hard to shift, it helps you gain an idea of what things are worth. There’ll always be a few old lady dealers who’ve been doing this forever and are happy to impart wisdom, or chatty collectors who will infodump about items in the auction or things they’ve scored in the past. Take some food and drink and a pen to make notes on your catalogue. A good auctioneer will usually go through about 100 lots in an hour so a 300-lot auction will take about 3 hours. Make sure you know where the toilet is. Have fun.

My last thrift post

[libidomechanica]

But lets it so large an orb, as truly, know

And one the light, then quickly gone?     Around that motto drew. Show! A thousand honour of union     was Juan; whom shall have he did sip, and cast up from their     order keep we thinks gay Punch hath ending in her eyes nor     ears, till older man who

loves me again: the Future I     embrace; and lady friends them all this sick period close     the curtains over you except once on a day, so short,     and made a monument, so well served in this very weel     aff like Autumne plums, did

drop, and cause some pinnes hurt did     whine, by my side, so is her eyes glowing first. Strait is the     kitchen lightning a candle to touch upon them. Has     powerless Heliades melt into his repartees. When the     landscape which sight, they rode;

they take your regular in     paradise had more white with vagabonding sheets. A hidden     mystery once, and put the chosen it. Pensive he eyes,     lips another; no sister flower—may choose her voices     die, vibrates in the doors

ajar? His Soul was constant     colonies at last, to fold, birds more purpose lost, where am     I? Brake with her arms infold him his smoke occupied their     true hypocrite at least all price, when in an hour with you     fightingale does shed

its cool underwater filter’d     in a thoughted Venus having wretch! Some deem it but her     wings which in rubles, diamonds, cash, and sees best work, yet swell     threshold, he, or hand had my load before the saints and saints     had once think’st thou need not

see a single laughing at his     way, but true,—last war the wayward love, my bright sun glorifies     their guided steps can find nothing hastily. Which lovers     dream of Heaven to reach heart shall know, it is very     miserable Knight thee, which

is the stature, all are but with     the bench behind the clove, and murmurous vestibule his     youth, and the realme of Lorraine; and draw one Breath you this. Where     were dewd with many a sniggering flames in eyes? Pensive     he eyes, thoughts so sweetly

doth fall, the fetid wombs of blood,     with stay thought, in pity of love their hearts to—all at last     wet step before the wall, like Autumne plums, did drop a flowers     with the hung his common- place! Farewell, hear, mistress, for     Tyrans make a lyzard

dull, to taste. From each light voyage     or Shah, and the nymph that Fate avenges arms Shirúeh with     her grieve: for sharply, and hotel; thy packets, all hoped to     find its love a sister flows away; a single laughter     loved the best presume for

I have my body’s bane would surpass     the equinox, that sliding hip to haunch. Is it thy     seal-manual on my thought to owe, insolvent every     willing me. Thou dost speak no square were out of the dale, the     mysterious: besides,

so plied and stitched up in fatal     Juan ever made. The little Turk refused to walk away,     as with burning in a fit of waste, refuse and dubious     bone, though the cold ran the welkin volleys out his poor     old breast. Various arts

of melancholy rite for the     break. I am the heavy Saturn laugh’d, as if it seems     unkind. Of a wee white should not that ourselves awake, and     expire; so was of more perjured eye, to see me weep so     sore, hey ho! Don Juan now

was she. You tell the slow-picked, halting     travell’d; and kissing injury, revenge from his ivied     nook glow like a race- horse; much as may be Boaz, and     fingers on this wish, nor blank; it means to immure herself     in me. Birds, gusts and now

she will Europe’s sagest head.     Be cut in Phaeton’s time, and destroy the cattle’s feet, scrambling     ecstasy, till Paradise: wheels round my hope! When Newton     saw an apple doth sit, long siege to their fox-hunt o’er     its steady surprise a

heap of pain. An image I do     steal thyself, by turns to pull. Here he could tell nought can tire,     and Lamia, what can ye recognition from thy     should be able for know, through or smooth as snow she seeks: he     shoulders, heav’n-directed,

to go, whilst ravish’d with no soul     and unload all good to live. Mae nor mermaid’s voice and alone     the writhed her to Its delicacy—stoops at once     ye shall lay bare her long by hardest fate, the bows her heart.     He spoke, and yet these dinner;

angle, the soldier’s death’s ebon     dart, to strike the prison’d in her, she: but thou, that turns     up through they rang on her troubled brain;—and tug at the all     over America. Teaches one to folk—remember     me when the low starlight.

Who, in my e’e, to this flesh helps     soul! Nor did when they: alas that joy can get a fresh beauty     is to me as laughter knit into each other ran     in his magic vapour of some a little leaning up     this proud head lolled back,

nor brag not of. Just such art as     from a half-unquench’d volcano go. Have in the primrose     bank whereon with brasswork prinked, each leaning in the god     of day, to lord and lads indifference certes, she was     Nor more than she frame to?

[moonbeamsanddaydreams]

How to Buy and Sell Gold as a New Investor

A ton of gold bullion coins are being scattered all over the planet today. Investors are primarily click here to learn more drawn to these products since they own an enormous scope of significant worth - whether they are changed by the public authority or sent out to far off countries.

If you have a thought of somebody who bargains in gold and silver, that will be the best spot for you to start. In any case, I prompt that you start looking for gold dealers in your neighborhood and do correlation shopping.

You can likewise figure out the dealer's involvement with the business. Pay special attention to any insolvency history, if they have at any point had any claim case and if they are focused on their words.

Another significant procedure is to check the price they charge for buying gold. A few dealers will charge an exceptional expense forthright however won't give you any charge when you sell gold to them.

Gold Mining

An incredible way of buying gold is through gold mining and offers. This strategy is fairly dangerous on the grounds that the amount of mining can't be known.

Additionally, there might be other unanticipated designing difficulties related with buying one. This can likewise influence the price as the creation cost might rise and cut across the mining benefit.

The mines might have all been removed with zero gold excess. Despite the fact that they are exchanged the securities exchange, they can in any case vanish in the platform, bringing about a deficiency of money.

Gold Fates

Different strategies for buying gold are through gold prospects and offers. However, this strategy is exceptionally unsafe for new investors.

Jewelry

Owning gold as jewelry is perfect. Albeit this is a poor gold investment technique, particularly truly beneficial for discount buyers sell at a retail price.

[alphaman99]

A GREAT PARADIGM SHIFT WILL TRANSPIRE WHEN THE AVERAGE AMERICAN TRULY GETS A HOLD OF THE SIGNIFICANCE OF WHAT IS TAKING PLACE. THE VEIL WILL FINALLY BE LIFTED.

Jill Sovereign

The Western Governments are part of extreme criminality with the highest echelons of the Corporate, Academic and Media Elite!!!

All Western Governments are over-indebted as it is, most are insolvent and are privatizing everything!!!

People pick on Greece but the rest of the world now looks a lot like Greece, and has got there fast!!!

Deflation increases the real value of debt! If you’re over-indebted to begin with, the last thing you want is deflation!

So let's say, you’ve got these two tectonic plates... There’s the natural tectonic plate-the deflation; and then there’s the policy plate of inflation-which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates.

They’re pushing against each other. It looks stable from the outside but it’s dynamically unstable!

It’s going to snap!!!

The question is which way it will go?

Central banks could throw up their hands and it could go deeply into deflation... Or, central banks could pull a few more rabbits out of a hat again and it could go into inflation...

So this has been going on for five years, except that the forces keep getting stronger!

The forces of debt, deflation, negative interest rates, deleveraging, are getting stronger!

The forces of money printing policy are getting stronger!

These forces are not only coming together, they’re getting more powerful and they’re going to snap!

When?

The effects will be dynamicaly dramatic!!!

[dwagom]

i think that the implications of silicon valley bank's collapse can be easily over- or under-estimated. SVB funded an entire throng of VC startups which habitually burnt money explicitly as part of their business model, with the whole narrative of "disruption" hinging on the supposed ability of newcomers to dislodge previous monopolists and replace them with a monopoly of their own. as foolish as the idea was, ever since the money-taps were opened around 2009 we've had a flood of new things which were both thoroughly pointless (uber, airbnb, nutribullet) yet at the same time that sheer amount of money was enough to reshape the internet, which is now structured around the systemic imbalance of eternal QE and (near-)zero interest rates. lots of things that we take for granted like youtube, tumblr, etc etc really are loss-makers operating on Socialism for Corporations.

so far this sort of generous financing has managed to square the circle on this end and somehow reconcile a (necessarily defective) public good with private interest, at the cost of rising inequality. i don't really have a point to make except that SVB's failure is a sign of changing times: as the age of free money is coming to an end we will see the internet rearrange itself around this change and the worst scenario would be that the interstitial period between free money coming from institutions on the one hand and rising disposable income from consumers as sources of solvency on the other for most of the things that we take for granted and have arranged our lives around will be catastrophically long, and that some of the things we lean on may not survive. do i think that youtube, for instance, is part of an oligopoly? yes. do i think that it's opaque? yes. do i think that youtube (and sites similar to it) deserves to go insolvent and be shut down? no, actually, i don't think that we deserve this sort of absence, not because of youtube as a company per se, but because we deserve a chance at extricating the many youtubes of the internet -- which have become de facto public spaces on the internet -- from the twin problem of solvency and private ownership. i guess that when pared down, the question is close-but-cigarless to "can our youtubes become socialised into something similar to a public library system?"

[bopinion]

2023 / 18

Aperçu of the Week:

"Experience is the hardest kind of teacher. It gives you the test first and the lesson afterward."

(Oscar Wilde)

Bad News of the Week:

What's true in security policy is also true in fiscal policy: if the U.S. isn't fit, the whole world gets sick. The world's (still) largest economy sets the tone. Many global trade flows, e.g. for energy, are conducted in U.S. dollars, and in many countries it has replaced the domestic currency - whether unofficially, as in Zimbabwe, or even officially, as in El Salvador. So what happens to the U.S. economy or the U.S. dollar has global implications.

In the process, there seems to be a kind of parallel universe. Normally, in the economy, when a so-called insolvency threatens, all the alarm bells go off: Employees look for new jobs, suppliers stop supplying, the bank cancels the credit line, creditors are left sitting on their claims. The company is simply bankrupt, at the end of its rope, with no future prospects. Except, perhaps, for a few fillet pieces that the competition buys up at bargain prices. This does not apply to the USA. Because it is effectively bankrupt. And no one seems to care.

The current debt level - only of the state, not of its companies (banking crisis) or citizens (mortgage and credit card crisis) - amounts to $31.38 trillion. This is significantly more than the gross domestic product (GDP) of $26.85 trillion. In fact, this can never be repaid. For comparison: in Germany, $2.73 trillion in debt is compared to a GDP of $5.32 trillion. And we feel that this is bad. The creditors of the USA sit primarily abroad - whether friendly like Japan or even downright hostile like China. And sleep apparently nevertheless calmly. And that even in the face of the current (once again) concrete threat of insolvency.

Normally, and this has been the case for decades, this is nothing more than a ritual: the money is no longer enough, Republicans and Democrats agree - sometimes with more, sometimes with less dispute - to ignore the debt ceiling, which is actually regulated by law, they obtain money on the markets without any problems and act as if nothing had happened. Until next time. Business as usual.

This year, things may turn out differently. Because the trench warfare between the duopoly parties could reach a new level. Which this time might not be done with a few government agencies and national parks closed for two weeks. Already since the in many ways ridiculous election of Kevin McCarthy as Republican majority leader in the House of Representatives, this has been publicly announced. Because the ultra-right MAGA freaks like Marjorie Taylor Green or Matt Gaetz have made it clear that they will play hard ball on this issue at the latest: rather cuts in social services as well as environmental protection than a suspension of the debt ceiling. For party-political reasons and without a shred of interest in economic or financial policy. At the same time, Treasury Secretary Janet Yellen warns that so far it has only been possible to avert default through "a series of extraordinary measures".

Strange that the U.S. nevertheless has a credit rating of AAA. Is that perhaps because the three relevant agencies, Standard & Poor, Moody's and Fitch, are all U.S.-based private firms? Or that no one wants to admit that there may be a systematic problem after all? In every banking crisis - and we have one right now that is nowhere as dramatic as in the U.S. - the term "too big to fail" makes the rounds. The land of unlimited opportunity, unreal projection surface for the hopes and dreams of large parts of the world's population, must not be allowed to fail. That is psychology. It's certainly not mathematics.

Good News of the Week:

More and more often, I notice on the train and in the supermarket that I'm the only one still wearing an FFP2 mask. Yet I'm not an overly anxious person. I am merely part of a vulnerable group for whom it is still better not to become infected with the corona virus. But that is my personal decision. And no longer a legal requirement. Because there isn't one anymore. Except in many doctors' offices, where masks are still mandatory if that's what the doctor wants - which objectively would have made sense even earlier, because after all, that's basically where a disproportionate number of viruses and bacteria are buzzing around.

Basically, I'm glad that the Word Health Organization (WHO) officially lifted the international health emergency due to Corona on Friday. After more than three years of a worldwide pandemic. In the balance, there are more than 20 million deaths. A health system that reached its limits and exceeded them in many countries. A mass death of retailers and cultural institutions. Lots of children and young people with mental health problems - or at least major failures as they grew up.

Many health policy decisions were right. Many were wrong. Some fellows discovered their social empathy. Some a penchant for conspiracy theories. Friendships and bonds of solidarity have grown. Or were destroyed. As is so often the case in life, the task now is to learn from the past for the future. Because it will not be the last challenge that human society will have to face - looking at the news, the multi-crisis still dominates.

Therefore, it is nice that we have at least left behind the frightening side effects of the Corona pandemic. Which will accompany us from now on as a "completely normal" respiratory disease with a potentially fatal outcome. Like the flu. Because let's face it: normality can be very reassuring.

Personal happy moment of the week:

Last Monday was May 1, a public holiday in Germany. And while on "Labor Day" (actually absurd that this day of all days is a public holiday) demonstrations of the trade unions for more workers' rights take place everywhere in Germany, the accent in Bavaria is elsewhere. Namely on the maypole. A tradition according to which an approximately 30 meter high, white-blue painted trunk is erected with muscle power - accompanied by music, dance and beer. Cancelled the last years because of Corona, it was nice to be able to celebrate this festival again this year. Even the rain had a mercy and took a break for the crucial three hours.

I couldn't care less...

...that the United Kingdom has a new head of state since yesterday, King Charles III. And so do Canada, Australia, New Zealand and 13 other Commonwealth countries. All the pomp, his costumes and rituals etc. show me one thing above all: monarchies are no longer in keeping with the times. And are not democratic.

As I write this...

...I am listening to music. Right now John Legend. And think about the fact that this is probably the only undoubtedly exclusively positive achievement of mankind: art. Whether it's music, poetry, performing or visual art, analog or digital, live or documented. The kind of creativity that does not seek a concrete use value, but stimulates, entertains, inspires, polarizes, makes you think. L'art pour l'art is something very beautiful.

Post Scriptum

Germany reached its "earth overload day" last week. So if all of humanity were as wasteful with resources as we are, it would need three Earths. We only buy green electricity and drive an all-electric car or use public transportation. We try not to throw away food and collect everything that can be recycled. We order as little as possible from Amazon (okay: also because we simply can't stand the working conditions of this company and its owner himself) and basically try to reduce our consumption (okay: this also saves money and has an educational value). And yet we are more part of the problem than part of the solution. Sigh...

[mitchipedia]

Crypto Was Always Smoke and Mirrors: The fall of FTX shocked everyone. Except this guy.

The world of cryptocurrency is rich with eccentric characters and anonymous Twitter personalities. So perhaps it shouldn’t be a surprise that one of the early figures who called attention to the problems with Sam Bankman-Fried’s cryptocurrency exchange, FTX, is a 30-year-old Michigan psychiatrist who investigates financial crimes as a hobby.

He’s James Block, and he runs a crypto newsletter called Dirty Bubble Media.

Block, a vehement crypto skeptic, has spent the past 18 months doing forensic blockchain research. He uses open-source tools to follow flows of money between crypto companies, repeatedly demonstrating how shadow banks and nefarious scammers inflate the value of worthless assets in order to generate enormous wealth that exists only on paper.

Charlie Warzel interviewed Block for The Atlantic.

Block: The AMC-meme-stock thing is a good example of how this can happen. People buy the stock of a semi-worthless company because they have this idea about short squeezing, or whatever. They are not financial experts and have a loose or maybe even wrong understanding of how finance works, and want to try to move the market. Crypto takes this abstraction a step further, because there’s nothing linked to it at all. There’s no economic activity in this space. There’s nothing produced by these companies. In fact, it’s a negative-sum game because of the cost of running the blockchains alone—the computational cost is tremendous. The amount of time and money people put into just running these things is tremendous. And they produce nothing of value. There’s a reason these massive companies aren’t all using blockchain for their processes: It is incredibly inefficient. And realistically, who actually wants their financial information public and visible to everybody?

…

Warzel: Do you think most entities in the crypto space are insolvent and know it, and are just pretending right now, post-FTX?

Block: Absolutely. That’s because of what I said earlier about crypto. There’s no value created by any of these companies. It’s all just moving money from Person A to Person B.

[upscalelegal]

Important Judgments – 2021

JANUARY

Rajeev Suri Vs. Delhi Development Authority, 2021

Rajeev Suri vs. Delhi Development Authority and Ors. (2021), also known as the Central Vista case, conducted a comprehensive judicial assessment of the legality of the Central Vista Project of the Government of India. The judgment was pronounced by a bench constituting Justices A.M. Khanwilkar, Sanjiv Khanna, and Dinesh Maheshwari on 5 January 2021. The Supreme Court ruled that the Central Vista Committee’s (CVC) decision of “no protest” and “endorsement” by the Delhi Urban Art Commission (DUAC) and “earlier endorsement” by the Heritage Conservation Committee (HCC) of the Central Vista Project, for which Prime Minister Narendra Modi laid the foundation stone on December 10, is without flaw.

FEBRUARY

UNITECH Limited vs. Telangana State Industrial Infrastructure Corporation (TSIIC)

“The presence of an arbitration clause within a contract between a state instrumentality and a private party does not act as an absolute bar to availing remedies under Article 226.” 

In the case where it was argued that a remedy for the recovery of moneys arising out a contractual matter cannot be availed of under Article 226 of the Constitution.

The Hon’ble Supreme Court clarified that the recourse to the jurisdiction under Article 226 of the Constitution is not excluded altogether in a contractual matter. A public law remedy is available for enforcing legal rights subject to well-settled parameters.

The Hon’ble Court, however, made clear that though the presence of an arbitration clause does not oust the jurisdiction under Article 226 in all cases, it still needs to be decided from case to case as to whether recourse to a public law remedy can justifiably be invoked.

Naresh Dayal vs. Delhi Gymkhana Club Ltd

“NCLT has no jurisdiction to decide cause of action over which it has no power under Companies Act.” The case dealt with the allotting of a certain “green card holder” to the members of the Delhi Gymkhana Club, wherein permanent members of the club were allotted this card.

As per the AOA of the Company, there was no provision for the allocation of such cards, and therefore, the party approached the Court. The respondents claimed that it was up to the NCLT to decide upon this matter, for it is bestowed with this jurisdiction as per §242 of the Companies Act.

The court held that since the present matter does not pertain to any aspect as provided under §242, i.e., any action of oppression or mismanagement, any prejudicial interests or a petition for winding up therefore, it was held that the NCLT does not have jurisdiction to decide over matter for which it does not have jurisdiction under Companies Act.

MARCH

Gujarat Urja Vikas Nigam Limited vs. Mr Amit Gupta & Ors

“NCLT Has Jurisdiction To Adjudicate Contractual Disputes Which Arise Solely From Or Which Relate To Corporate Debtor’s Insolvency.”

The Supreme Court observed that the National Company Law Tribunal has jurisdiction to adjudicate contractual disputes, which arise solely from or which relate to the insolvency of the Corporate Debtor. However, for adjudication of disputes that arise dehors  the insolvency of the Corporate Debtor, the RP must approach the relevant competent authority, the bench comprising Justices DY Chandrachud and Justice MR Shah observed while upholding the order of the National Company Law Tribunal which stayed the termination by the Gujarat Urja Vikas Nigam Limited of its Power Purchase Agreement with Astonfield Solar (Gujarat) Private Limited.

Kalpraj Dharamshi & Anr vs. Kotak Investment Advisors Ltd & Anr.

“NCLT/NCLAT Can’t Interfere With Commercial Wisdom Of CoC Except Within Limited Scope Under Sections 30 & 31 IBC.”

The Supreme Court has reiterated that the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) cannot interfere with the ‘commercial wisdom’ of the Committee of Creditors (CoC), except within the limited scope under Sections 30 and 31 of the IBC. Based on this well-settled principle, a 3-judge bench comprising Justices AM Khanwilkar, BR Gavai and Krishna Murari set aside an order of the NCLAT which had annulled the decision of CoC to accept a resolution plan.

“It would thus be clear, that the legislative scheme, as interpreted by various decisions of this Court, is unambiguous. The commercial wisdom of CoC is not to be interfered with, excepting the limited scope as provided under Sections 30 and 31 of the IBC”, the Supreme Court observed referring to precedents such as Committee of Creditors of Essar Steel India Ltd vs. Satish Kumar Gupta and Ors., Maharashtra Seamless Ltd vs. Padmanabhan Venkatesh and Ors., K. Sashidhar vs. Indian Overseas Bank etc.

The Court stated that “it will therefore be clear, that this Court, in unequivocal terms, held, that the appeal is a creature of statute and that the statute has not invested jurisdiction and authority either with NCLT or NCLAT, to review the commercial decision exercised by CoC of approving the resolution plan or rejecting the same”, the judgment authored by Justice BR Gavai stated.

“We are of the considered view, that in view of the paramount importance given to the decision of CoC, which is to be taken on the basis of ‘commercial wisdom’, NCLAT was not correct in law in interfering with the commercial decision taken by CoC by a thumping majority of 84.36%”, the Court observed.

APRIL

Sanjiv Prakash vs. Seema Kukreja and Ors.

The Court observed that the ‘question of novation of contract containing an arbitration clause cannot be considered by the Court in a petition filed under Section 11 of the Arbitration and Conciliation Act.’

The court said that a Section 11 court would refer the matter when contentions relating to non-arbitrability are plainly arguable, or when facts are contested. The court cannot at a preliminary stage, enter into a mini trial or elaborate review of the facts and law which would usurp the jurisdiction of the arbitral tribunal.

M/S Utkal Suppliers v. Maa Kanak Durga Enterprises

A Court cannot second-guess an Authority’s interpretation of its own tender unless it is arbitrary, perverse or mala fide.

The Court noted that the authority which floats the contract or tender, and has authored the tender documents is the best judge as to how the documents have to be interpreted. If the two interpretations of tender are possible then the interpretation of the author must prevail over the other.

Existence of an arbitration clause does not debar the court from entertaining a writ petition.’

The Supreme Court has stated that the existence of an arbitration clause does not debar the court from entertaining a writ petition in a contractual matter.

The Hon’ble Court has held that the availability of an alternative remedy does not prohibit the Court from entertaining a writ petition in an appropriate case. The High Court may entertain a writ petition, notwithstanding the availability of an alternative remedy, particularly (1) where the writ petition seeks enforcement of a fundamental right; (ii) where there is failure of principles of natural justice or (iii) where the impugned orders or proceedings are wholly without jurisdiction or (iv) the vires of an Act is under challenge.

MAY

Lalit Kumar Jain vs. Insolvency and Bankruptcy Board Of India

The Court upheld the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) concerning the liability of the personal guarantors to the corporate debtors. It also held that approval of a resolution plan does not ipso facto discharge a personal guarantor (of a corporate debtor) of her or his liabilities under the contract of guarantee. The release or discharge of a principal borrower from the debt owed by it to its creditor, by an involuntary process, i.e. by operation of law, or due to liquidation or insolvency proceeding, does not absolve the surety/guarantor of his or her liability, which arises out of an independent contract.

The Ministry of Corporate Affairs through the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 extended application of IBC process to the personal guarantors. Various personal guarantors were proceeded against under the new laws. These personal guarantors approached the Supreme Court to challenge the rules and application of IBC to personal guarantors.

The Chief Election Commissioner of India v. MR Vijayabhaskar 

Freedom of press relating to Court proceedings

The Court held that freedom of speech and expression also extends to reporting the proceedings that happen in courts including oral observations made by judges.

“Article 19(1)(a) covers freedom of press. Freedom of speech and expression covers freedom to cover court proceedings too…Now people are more digital oriented and hence look to internet for information. hence it would do no good to prevent a new medium to report proceedings. constitutional bodies will do better than complain about this,”  the Court said

Rahul Sharma v. National Insurance Company Ltd .

If deceased was self-employed and below the age of 40 years, 40% addition would be made to their income as future prospects.

This judgement reiterated the ratio of the Supreme Court in National Insurance Co. Ltd. v. Pranay Sethi.

JUNE

Matrix Global Pvt. Ltd. v. Ministry of Education, Federal Democratic Republic of Ethiopia

“Prior consent of central government is not required to enforce an arbitral award against a foreign state.”

The petitioner filed an application for enforcement of the arbitral award against a foreign state. The court framed two issues: Firstly, whether it is necessary to obtain the permission of central government u/s 86 of the CPC before the enforcement of the arbitral award against a Foreign State? Secondly, whether a foreign state is entitled to claim sovereign immunity against the enforcement of the arbitral award in cases arising out of the commercial transaction?

The court ruled that the Central Government’s consent was not required for the enforcement of an arbitral judgment against a foreign state under Section 86(3) of the Code. A Foreign State could not claim Sovereign Immunity against the enforcement of an arbitral judgment arising out of a commercial transaction. A commercial contract’s arbitration clause is an implied waiver by the foreign state, preventing it from blocking enforcement action based on the principle of sovereign immunity. The foreign state could not claim that its approval must be obtained repeatedly because the award is the result of arbitration, which the foreign state had agreed to.

M/s IMZ Corporate Pvt. Ltd. v. MSD Telematics Pvt. Ltd.

“Non-payment of stamp duty on a commercial contract does not invalidate an arbitration agreement.”

The petitioner filed a petition under Section 11 of the A&C Act, 1996 for the appointment of a sole arbitrator. The issue before the court was that whether the non-payment of stamp duty on a commercial agreement would invalidate the arbitration agreement or not?

The court held that while deciding on the Section 11 petition, the court only needs to look into the existence of an arbitration agreement. Further, the court observed that mere allegations of fraud will not validate the document and the court will enquire only in cases where the document appears to be fabricated.

JULY

Dena Bank vs. C. Shivakumar Reddy; CA 1650 OF 2020, LL 2021 SC 349

The Supreme court observed that a fresh cause of action can be initiated under section 7 of IBC, if due of corporate debtor to financial debtor remain unpaid.

“Judgment and/or decree for money in favour of the Financial Creditor, passed by the DRT, or any other Tribunal or Court, or the issuance of a Certificate of Recovery in favour of the Financial Creditor, would give rise to a fresh cause of action for the Financial Creditor, to initiate proceedings under Section 7 of the IBC for initiation of the Corporate Insolvency Resolution Process, within three years from the date of the judgment and/or decree or within three years from the date of issuance of the Certificate of Recovery, if the dues of the Corporate Debtor to the Financial Debtor, under the judgment and/or decree and/or in terms of the Certificate of Recovery, or any part thereof remained unpaid.”

Orator Marketing Pvt. Ltd. vs. Samtex Desinz Pvt. Ltd., LL 2021 SC 333

The Supreme Court observed that a financier who gave interest free loans to finance the commercial operations of a corporate body is a Financial Creditor and capable to start the Corporate Resolution Process under Section 7 of the Insolvency and Bankruptcy Code, 2016.

“There is no discernible s no discernible reason, why a term loan to meet the financial requirements of a Corporate Debtor for its operation, which obviously has the commercial effect of borrowing, should be excluded from the purview of a financial debt”

AUGUST

Pratap Technocrats (P) Ltd. v. Monitoring Committee of Reliance Infratel Ltd

“Jurisdiction of the Adjudicating Authority and the Appellate Authority cannot extend into entering upon merits of a business decision made by a requisite majority of the CoC in its commercial wisdom.”

“Under the Indian Insolvency regime, it appears that a conscious choice has been made by the legislature to not confer any independent equity-based jurisdiction on the Adjudicating Authority other than the statutory requirements laid down under Section 30 (2) of the IBC.”

Dena Bank v. C. Shivakumar Reddy

“There is no bar in law to amendment of pleadings in an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 or to filing of additional documents apart from those initially filed, at any time until a final order either admitting or dismissing the application has been passed”.

The Court also held that an application under Section 7 for imitation of corporate insolvency resolution process against a corporate debtor is not be barred by limitation if there is an acknowledgement of the debt by the corporate debtor before expiry of the limitation period. Such acknowledgment can be by way of statement of accounts, balance sheets, financial statements and offer of one time settlement.

Moreover, a final judgment and/or decree of any court or tribunal or any arbitral award for payment of money, if not satisfied, would fall within the ambit of a financial debt, enabling the creditor to initiate proceedings under Section 7.

SEPTEMBER

Ebix Singapore (P) Ltd. v. Educomp Solutions Ltd. (Committee of Creditors)

Under Insolvency and Bankruptcy Code, 2016, a Resolution Applicant is not entitled to withdraw or modify its Resolution Plan, once it has been submitted to the National Company Law Tribunal (Adjudicating Authority). The Supreme Court held:

“The existing insolvency framework in India provides no scope for effecting further modifications or withdrawals of CoC-approved Resolution Plans, at the behest of the successful Resolution Applicant, once the plan has been submitted to the Adjudicating Authority.”

The Supreme Court urged NCLT and NCLAT to be sensitive to the effect of such delays on the insolvency resolution process and be cognizant that adjournments hamper the efficacy of the judicial process. The Court said:

“The NCLT and the NCLAT should endeavor, on a best effort basis, to strictly adhere to the timelines stipulated under the IBC and clear pending resolution plans forthwith. Judicial delay was one of the major reasons for the failure of the insolvency regime that was in effect prior to the IBC. We cannot let the present insolvency regime meet the same fate.”

Union of India v. VKC Footsteps

The division bench of Dr. DY Chandrachud and MR Shah, JJ has upheld the validity of Section 54(3) of the Central Goods and Services Tax Act, 2017 (CGST Act) which provides for refund of unutilised input tax credit (ITC) in certain cases.

Section 54of the CGST Act provides for a refund of tax. Under sub-Section (1) of Section 54, a person claiming a refund of “tax and interest, if any, paid on such tax or any other amount paid” has to make an application within two years of the relevant date.

Upholding the constitutional validity of Section 54(3), the Court held that

“A claim to refund is governed by statute. There is no constitutional entitlement to seek a refund.”

The Court also found it impossible to accept the premise that the guiding principles which impart a measure of flexibility to the legislature in designing appropriate classifications for the purpose of a fiscal regime should be confined only to the revenue harvesting measures of a statute.

OCTOBER

Manohar Lal Sharma v. Union of India

“In matters pertaining to national security, the scope of judicial review is limited. However, this does not mean that the State gets a free pass every time the spectre of “national security” is raised. National security cannot be the bugbear that the judiciary shies away from, by virtue of its mere mentioning. Although this Court should be circumspect in encroaching upon the domain of national security, no omnibus prohibition can be called for against judicial review.”

The 3-judge bench of NV Ramana, CJ and Surya Kant and Hima Kohli, JJ has appointed an Expert Committee to look into the truth or falsity of the allegations in the Pegasus Spyware case, “taking into account the public importance and the alleged scope and nature of the large-scale violation of the fundamental rights of the citizens of the country.”

Geo Varghese v. State of Rajasthan

In a case where a 14-year-old had committed suicide after his PTI Teacher had allegedly “harassed and insulted him in the presence of everyone”, the bench of SA Nazeer and Krishna Murari*, JJ has held that the suicide note suggested that it was a rhetoric document, penned down by an immature mind and that it was the hypersensitive temperament of the deceased which led him to take such an extraordinary step. The Court said that the action of the teacher, otherwise would not ordinarily induce a similarly circumstanced student to commit suicide.

The Court explained that,

“A simple act of reprimand of a student for his behaviour or indiscipline by a teacher, who is under moral obligations to inculcate the good qualities of a human being in a student would definitely not amount to instigation or intentionally aid to the commission of a suicide by a student.”

NOVEMBER

Narinder Singh v. Union of India

Idioms carping ‘delay’ and ‘hurry’ in adjudication highlight the importance of both speedy disposal and reasonable opportunity, as both are essential for an even-handed and correct decision. Neither should be sacrificed nor inflated, as to prolong or trample a just and fair adjudication. A pragmatic and common-sense approach would invariably check any discord between the desire for expeditious disposal and adequacy of opportunity to establish one’s case.

Section 19 of the Act states that while the arbitral tribunal is not bound by the Code of Civil Procedure, 1908 or the Indian Evidence Act, 1872, in the absence of any agreement between the parties as to the procedure to be followed, the arbitral tribunal may conduct the proceedings in the manner it considers appropriate. Section 18 mandates that both parties shall be treated with equality and each party shall be given a full opportunity to present his case. Reference can also be made to Sections 24 and 25 and newly enacted Section 29A of the Act, which though not applicable to this case, emphasise on quick and prompt adjudications.

Veena Pandey v. Union of India

Pension as is well known, is the deferred portion of the compensation1 for rendering long years of service. It is a hard-earned benefit accruing to an employee in the nature of property.

While considering the appellant’s case, the High Court did not however consider her entitlement on merit, but had dismissed both the Writ Petition and the LPA, citing want of territorial jurisdiction. The employment of the appellant’s husband with the respondent employer is however not in dispute. Nevertheless, for over a decade, the widow of the employee is forced to litigate to secure the pension benefits.

DECEMBER

Ravinder Kumar Dhariwal & Anr. Vs. Union of India & Ors.

The Supreme Court observed that the initiation of disciplinary proceedings against persons with mental disabilities is a facet of indirect discrimination. The Court has ruled that person with a disability is entitled to protection under the Rights of Persons with Disabilities Act 2016 (RPwD Act) as long as the disability was one of the factors for the discriminatory act.

Justice Dr. D. Y. Chandrachud, Justice Surya Kant and Justice Vikram Nath held the appellant to be entitled to the protection of Section 20(4) of the RPwD Act in the event he is found unsuitable for his current employment duty.

“The appellant has been undergoing treatment for mental health disorders for a long time, since 2009. He has been diagnosed with 40 to 70 percent of permanent disability by a government hospital. While all CRPF personnel may be subject to disciplinary proceedings on charges of misconduct, the appellant is more vulnerable to engage in behavior that can be classified as misconduct because of his mental disability. He is at a disproportionate disadvantage of being subjected to such proceedings in comparison to his able-bodied counterparts”, observed the Court.

The Larger Bench pointed out that in the present case, the appellant is only required to prove that disability was one of the factors that led to the institution of disciplinary proceedings against him on the charge of misconduct.

The Apex Court therefore concluded that the duty of providing reasonable accommodation to persons with disabilities is sacrosanct, and all possible alternatives must be considered before ordering dismissal from service.

State Of UP v. Aishwarya Pandey

The Supreme Court has affirmed that there cannot be two different pay-scales for the employee appointed on compassionate ground and the employee appointed on regular basis, and that the moment a person is appointed on a particular post, that person is entitled to the pay-scale of the very post, even if the appointment is on compassionate ground. At this stage, it is required to be noted that even in the case of similarly situated employees, the similar benefit was granted.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

[livincrans]

Immobilier. L'échec, le lot quotidien du courtier.

Dans l'imaginaire collectif, le courtier est souvent perçu comme une caricature de la réussite : gros cigare, grosse bagnole, grosse montre au poignet et, bien sûr, la grande gueule qui va avec.

Dans la réalité, sa réussite (s'il n'en simule pas une, les courtiers seniors me comprendront) n'est que le fruit d'une inexorable succession d'échecs.

De ventes avortées, d'espoirs déçus, d'amertume, de désillusions, de trahisons, de fourberies, de mauvais coucheurs, de double-faces, de fuyants et autres prétentieux insolvables.

Être un courtier professionnel, c'est chérir ces légions de félons.

C'est vénérer les méchants car ils sont les garants de ses succès futurs.

La résilience est souvent un gage de réussite.

Le courtage ne fait pas exception à cette règle.

Ainsi, chères amies et chers amis, après 2 mois de réservation, négociations stériles z'et chronophages, j'ai le plaisir de vous annoncer que ce splendide 5.5 pièces sis dans une résidence en bordure immédiate du golf Ballesteros, est à nouveau mis en vente.

Mandat de vente exclusif.

Renseignements sur demande.