|From:||The Q Continuum|
|Subject:||Breaking Financial News|
.... Galactic Enquirer Financial Network .... Breaking News ...
We've just received word that Binary System Holdings, LLP, holders of a master-lease for Hellesport station and the planet Minos in the Binary A-27X system, has dissolved the partnership after the loss of the station property to a mutiny led by interim station governor Vork Jarnol. The mutiny was apparently planned in meticulous detail beforehand, with careful non-intevention agreements sealed with the Ferengi, Klingons, and Romulans in exchange for profit-sharing or shared ownership of the station.
Actual ownership of the station, however, is a very complicated matter. Like most major starbases, its title lists a variety of mortgages, leases, liens, and legal contracts on the property. Near as our in-house legal staff has been able to tell, Binary System Holdings held the station on a 90 year master-lease from the Klingon Empire, with the Klingons agreeing to subordinate the lease to any and all financing on the property. The station apparently needed quite a bit of financing, as there are no fewer than six mortgages on record, the largest for 1.3 billion credits held by Unica Re, a major reinsurance company in the Lygos 21C system. Other major lenders include the Galactic Credit Bank, the Ferengi Commerce Authority, the 1st Federation Bank, and HKB, and the station appears to be mortgaged for more than 2.4 billion of its 2.6 billion estimated value. This heavy debt leaves the station's new owners in quite the precarious financial situation, and unless they can quickly increase revenue, our analysts believe that default is imminent.
Rak, the Ferengi general partner of Binary Holdings, told the Enquirer that after dissolving the partnership, he intended to retire to a quiet life on Risa. Risian authorities have for the moment however rejected his plans to build a 500 meter tall statue of himself in the center of the main continent.
... And now back to the O'Malley factor in the Minimal Spin Zone on GE. Fair and balanced. ...