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.

Government regulation (cont)

---

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.

United States, Commercial Banks, Commercial Banking, Legal issues & crime, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Canadian Imperial Bank of Commerce

---

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.

Use of Funds, Theater Arts, Theater Companies and Dinner Theaters, Theater

Similar abstracts:

• Abstracts: Competition heats up for brokerage staff. TD investors call failed deal a blessing. Royal Bank chief sees lean, mean company
• Abstracts: Evenflo offers trade for wheeled walkers. Preventing trunk entrapment. AutoNation closes 23 stores; 1,800 lose jobs
• Abstracts: There's no place like home. Lies, damned lies and defamation. Would you like (silicon) chips with that?
• Abstracts: Broker slashes 12-month target for TSE 300. Income trust market still has lots to offer. Extendicare sufrfers stock sickness
• Abstracts: Eaton's receives increase to line of credit. Apparel group demands assurances from Bay. Hudson's Bay appoints new head

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.