WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2010 FINANCIAL TIMES HIGH COURT RULES INVESTOR BROKE BUY-OUT FUND CONTRACT An important precedent for the private equity industry has been set by a High Court ruling that Robert Adair, chairman of oil group Melrose Resources, breached a contract by refusing to put more money into Advantage Capital’s buy-out fund. Adair, who owns more than half [...]
Victory for Portsmouth in tax battle August 5, 2010 PORTSMOUTH claimed a monumental victory yesterday after it was saved from the brink of liquidation by a High Court ruling. The debt-ridden club were handed a lifeline after HM Revenue and Customs lost an appeal to block a proposed Company Voluntary Agreement (CVA) to help the club out of administration. Instead, Mr Justice Mann ordered [...]
What the other papers say this morning January 31, 2011 FINANCIAL TIMES WARNING AS BRIBERY LAW DELAYED British companies have been warned that they could be put on an export “blacklist” by the Organisation for Economic Co-operation and Development if the government continues to delay tough new anti-corruption laws. The warning came after Ken Clarke, the justice secretary, signalled on Monday that the implementation of [...]
What the other papers say this morning January 31, 2011 FINANCIAL TIMES WARNING AS BRIBERY LAW DELAYED British companies have been warned that they could be put on an export “blacklist” by the Organisation for Economic Co-operation and Development if the government continues to delay tough new anti-corruption laws. The warning came after Ken Clarke, the justice secretary, signalled on Monday that the implementation of [...]
HMRC scuppers Pompey bid to exit administration July 15, 2010 PORTSMOUTH face more months of uncertainty after the taxman blocked their attempt to come out of administration. HM Revenue and Customs yesterday lodged an appeal at the High Court against Pompey’s proposed Company Voluntary Arrangement. A hearing is not expected to be held before October, leaving the club hampered by a transfer embargo as they [...]
Stanford in drug plea December 7, 2010 BILLIONAIRE Allen Stanford, accused of leading a $7bn (£4.4bn) investment fraud scheme, is on so much medication he is unable to prepare for his upcoming trial, his lawyer said in a bid for bail. Stanford has been on drugs since a fellow in-mate attacked him in September 2009, which left him with concussion, brain injury [...]
THE PARTY’S OVER FOR TCHENGUIZ BROTHERS March 9, 2011 THEY came, they saw, they conquered – and then the Tchenguiz brothers were arrested by the Serious Fraud Office yesterday morning in connection with the collapse of the Kaupthing Icelandic bank. The dramatic raid at the property developers’ Mayfair HQ has been the talk of the MIPIM property fair at Cannes, where the brothers were [...]
Pension trustees wait for court to decide what happens if BT goes bust July 14, 2010 Pension trustees at BT were last night awaiting a High Court ruling over how much of the telecom giant’s liabilities would be guaranteed by the state if it were to collapse. The former state telecoms monopoly was given a guarantee when it was privatised in 1984 that the government would back its pension scheme in [...]
Lehman ruling favours hedgies August 2, 2010 UK HEDGE funds celebrated yesterday after the Court of Appeal ruled that their money, held by the European arm of Lehman Brothers Holdings, was not protected when the bank went bust in 2008. The ruling will see a number of hedge funds gain access to a $2.1bn (£1.3bn) pool of cash, which was segregated by [...]
SAP to pay Oracle $1.3bn damages November 23, 2010 SAP has been ordered to pay Oracle $1.3bn (£824m) in damages for software theft, a federal jury decided yesterday after a high-profile trial that captivated Silicon Valley. The verdict saw gasps from a packed courtroom and hugs and handshakes among Oracle’s legal team. Oracle had sought at least $1.65bn in damages, while Germany’s SAP pegged [...]