Ex-Livent employees sue for severance
Article Abstract:
Livent Inc has been sued by a group of former senior employees who were seeking more than C$2 million in severance payments. Former senior VP Beth Russel asked the Ontario Court's General Division to prevent the bankrupt company from granting severance packages to the existing Livent executives unless she and eight other colleagues are similarly compensated. Livent has filed for bankruptcy protection from creditors in Canada and the US in Nov 1998.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Livent creditors target CIBC, Deloitte
Article Abstract:
The creditors of Livent Inc. are planning to sue the Canadian Imperial Bank of Commerce (CIBC) and the accounting firm Deloitte and Touche over the involvement with the company. The committee of creditors is looking into a possible fraud involving loans from CIBC, and a deal involving the investment firm CIBC Wood Gundy Securities Inc. The committee is also investigating Deloitte and Touche for its alleged failure to detect the fraud.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Livent technically defaults on loan
Article Abstract:
Bankrupt theater production company Livent Inc has technically defaulted on a $25-million emergency loan that it secured with Angelo, Gordon and Co of LP of New York. Court-appointed monitor Ernst and Young reported that Licent has failed to meet certain technical and line item covenants related to the loan. Livent has filed for bankruptcy protection in Canada and the US in Nov 1998 after managers uncovered a C$100-million fraud.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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