Rock appeal gathers pace June 10, 2009 INVESTORS in nationalised lender Northern Rock yesterday launched a legal bid to overturn a High Court decision which they claim will leave them with “derisory” compensation. Institutional investors RAB Capital, SRM Global and a collective of private shareholders numbering more than 200,000, who are backed by the UK Shareholders Association, say the government’s compensation scheme [...]
LEHMAN CASH PROVES HARD TO RECLAIM June 9, 2009 JAMES COILEYPARTNER, COILEY NINE months have passed since the collapse of Lehman Bothers. Yet many investors in its Special Purpose Vehicle (SPV) platforms are still waiting for their money. Disputes relating to these trades are now hitting the courts in earnest in both London and New York. The transactions are variations of “repackaging” structures. At [...]
CITY BOYS COME UP TRUMPS FOR SIR ALAN’S NEWEST APPRENTICE June 8, 2009 BEADY-eyed Apprentice followers may have noticed a bevy of City boys getting behind the camera last night for a cameo on the final episode of the show. Pelham PR’s Gavin Davis, Alisdair Haythornthwaite and Alex Walters appeared on screen, with Funsho Allu from insurer AIG and freelance hack Jack Dyson, to advise winner Yasmina on [...]
Pressure will not faze me, says Murray June 8, 2009 BRITISH No1 Andy Murray insists he is not worried about the added pressure of playing in front of his home fans at Wimbledon this year. The Scot arrives at SW19 with a career-high ranking of three and many believe he’s in good shape to become the first Briton to lift his home trophy since Fred [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 4, 2009 FINANCIAL TIMES AQUASCUTUM IN BUY-OUT TALKSAquascutum, the classic British clothing brand, could be sold to the Hong Kong clothier that distributes the label in China and south-east Asia after an offer from the brand’s management to buy the business was rejected at the eleventh hour last week. Japan’s Renown, which bought the British label in [...]
FOCUS ON: CAMBRIDGESHIRE June 4, 2009 MANOR FARM, 10 NORTH END, BASSINGBOURNPrice: £2mThis stunning Georgian house is located outside Cambridge and is three miles from Royston railway station – 40 minutes from Kings Cross. Sitting next to a 14th century church, the grounds could not be more picturesque. The property has seven bedrooms, of which two have en suites. The kitchen [...]
FOCUS ON: IPSWICH, SUFFOLK May 21, 2009 GREEN FARM, NEAR STOWMARKET, IP14 3REPrice: Offers in excess of £975,000If you’re looking for the property that has everything then this is it. Believed to date from the 16th century, this listed barn conversion comes complete with swimming pool, tennis courts, and even a carp lake/boating pond. Inside, the house has recently been modernised but [...]
BMI investor goes to high court May 20, 2009 The controlling shareholder of business airline BMI, Sir Michael Bishop, is going to the high court to try and force through a takeover of the group by German carrier Lufthansa. Bishop launched legal proceedings yesterday, saying his group had done everything required of it to complete a £350m buyout by Lufthansa. The move came after [...]
Pringles to cost P&G millions May 20, 2009 PROCTER & Gamble (P&G) will have to pay out tens of millions of pounds in VAT after it lost a legal battle over its Pringles snack yesterday. The Court of Appeal found in the Inland Revenue’s favour, saying that Pringles are a potato snack, which means they’re liable for VAT. Last summer, a High Court [...]
Dixon the risk-taker changes his tactics to thrive in the recession May 19, 2009 You could almost be mistaken for thinking Mark Dixon, the founder and chief executive of office space provider Regus, is enjoying this recession. Perhaps it is because Regus’ share price has bounced 50 per cent since March. What is clear is that the short, fair-haired, serial entrepreneur who is sitting in one of his flagship [...]