Retail giant Best Buy retailer won’t pay for fridge flood its own contractor caused | 7 On Your Side

ELTINGVILLE, Staten Island (WABC) — When a new fridge flooded and caused thousands of dollars in damage, a young couple says a retail giant turned its back on them.

“To be honest I was so upset, I couldn’t even handle it,” Jason Anello said.

Welcome to Jason and Abby Anello’s newlywed nightmare. Their new home was ruined before he could even carry her over the threshold.

“It’s just been a big headache,” Anello said.

He’s talking about the thousands in water damage due to a faulty fridge installation.

The listing for their Staten Island home caught their eye and features an open floor plan with a big kitchen and hardwood floors. So, they bought it.

“We put a lot of money into the house with renovations,” said Anello.

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One of the expenses included a fancy new fridge from

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China’s Too-Big-to-Fail Real Estate Giant Pulls Back From Brink

(Bloomberg) —

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China Evergrande Group took a major step toward avoiding a cash crunch that had threatened to roil the nation’s $50 trillion financial system and reverberate across global markets.

After a turbulent few days during which banks, bondholders and senior government officials became increasingly alarmed about Evergrande’s financial health, the world’s most indebted developer said it reached an agreement with a group of strategic investors to avoid repayments that would have placed a sizable strain on the junk-rated company’s balance sheet.

The deal buys crucial time for Evergrande to rein in a complex web of liabilities that some analysts have said makes the property behemoth too big to fail. Evergrande owes $88 billion to banks, shadow lenders and individual investors across China and has borrowed $35 billion from bondholders around the world. More than 2 million homebuyers have given the company down payments on yet-to-be-completed properties.

Relief

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