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French carmaker Renault aims to complete its takeover of the Lotus Formula One team on December 16 and pay creditors Anaheim Ducks Youth Jersey , including Britain's tax authorities, by the end of the year, the High Court heard Monday.


All parties in a protracted case brought against struggling Lotus by the Revenue and Customs authority over unpaid tax, with other creditors also -represented Winnipeg Jets Women's Jersey , agreed to a further adjournment to December 21.


"We are in a different territory now," a lawyer for the team told the court.


"You got away with it ... or rather, it has been got away with," commented the judge Washington Capitals Women's Jersey , Mr Justice Birss, after hearing none of the creditors objected to the -adjournment that he said was clearly in the best interests of all parties.


The alternative would have been to put Lotus into administration.


Renault, currently an engine supplier to former world champions Red Bull, announced last week they would be returning to Formula One as a full constructor by taking a controlling stake in Lotus.


Lotus Vegas Golden Knights Women's Jersey , formerly owned by Renault -before a race-fixing scandal broke in 2009, have limped to the finish line this season with current owners, Luxembourg--based Genii, injecting only enough cash to keep the team alive.


Bailiffs impounded their cars after the Belgian Grand Prix in August and the team were denied access to the paddock hospitality in Japan due to unpaid bills.


Lotus Chief Executive Matthew -Carter Vancouver Canucks Women's Jersey , who attended the hearing, said the remaining matters were merely procedural.


"It's the 16th for the SPA [share purchase agreement] and they [Renault] are agreeing to pay all the creditors by the 31st," he told Reuters outside the courtroom.


"So I guess when we come back on the 21st it will be to ensure that the SPA has been signed.


"It's been an interesting process all the way through but we are where we are," said Carter Toronto Maple Leafs Women's Jersey , who said his own future with the team had yet to be decided.


Genii Capital chairman and current Lotus principal Gerard Lopez told -Reuters at the season-ending race in Abu Dhabi last month that he would -retain a shareholding in the team.


"Everyone's time and effort has been focused on getting this across the line and now I guess we take stock of the situation and decide which way Renault want to jump," said Carter.


"We'll see how Renault want to run things and what their plans are."




ACCRA, March 8 (Xinhua) -- Health authorities in West Africa have set up a regional Center for Disease Control (CDC) in Abuja, Nigeria to deal with pandemics such as Ebola, a senior official of Ghana said on Wednesday.


The establishment of the CDC is to ensure that "we are more prepared, in terms of early detection, epidemic surveillance, training of our staff and upgrading their capacity and research, so we can combat diseases of the nature of Ebola," Dr. Xavier Crespin, Director-General of the West Africa Health Organization told President Akufo-Addo during a meeting at the Flagstaff House in Accra.


He said Ghana is serving as the platform for training of staff as the University of Ghana has been chosen for its Field Epidemiology and Laboratory Training Program (FELTP).


The Kofi Annan International Peacekeeping Training Centre (KAIPTC) is also training most of the Center's medical staff who are part of the regional intervention team.


"This means we can mobilize quickly in sending out well-trained personnel in the event of an epidemic outbreak," he said.


The largest and most complex Ebola outbreak claimed the lives of more than 11,300 people and infected over 28,500, according to the World Health Organization.


Dr Crespin appealed for President Akufo-Addo's support in the local production of pharmaceuticals in the sub-region, explaining that the help of Ghana in reinforcing local capacity to produce its own medicine is of the utmost importance.


"From our assessment, we produce only 25 percent of the medicines we need in our region, which is very weak. Our objective is to increase it to 50 percent," he said, urging the president to take the lead advocacy in this area.


President Akufo-Addo told the delegation that one of the priority industrial projects to be undertaken by his government would be the local production of pharmaceutical products.


PRETORIA, Sept. 26 (Xinhua) -- Representatives from African central banks are holding a four-day meeting in Pretoria, South Africa Tampa Bay Lightning Women's Jersey , to discuss the impact of International Financial Reporting Standard 9 (IFRS9) on banks and regulators in the continent.


The workshop is organised by the Working Group on Cross-border Banking Supervision and the South African Reserve Bank (SARB).


Opening the workshop on Monday, Francois Groepe, deputy governor of SARB, encouraged Association of African Central Banks to tackle challenges affecting them.


Adhering to international financial standards will prevent the repeat of the disastrous global financial crisis of 2007-2008 St. Louis Blues Women's Jersey , Groepe said.


He said the crisis highlighted the systemic costs of a delayed recognition of credit losses on the part of banks and other lenders, and the application of the prevailing standards at the time was seen as having prevented banks from provisioning appropriately for credit losses likely to arise from emerging risks.


These delays resulted in the recognition of credit losses that were widely regarded as "too little, too late," and gave rise to questions of pro-cyclicality by spurring excessive lending during the boom and forcing a sharp reduction in the subsequent bust San Jose Sharks Women's Jersey , he added.


Some financial experts believe that after that global financial crisis, banks are now better capitalized with higher buffers and are better able to absorb losses.


The SARB deputy governor said while many workshops have been held in the past two years, there have never been one focusing specifically on Africa.


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