Laidlaw laid low by judge

Article Abstract:

Laidlaw Inc., a Burlington, Ontario-based provider of ambulance of services, has lost a US tax ruling, disallowing its $133.5 million reduction of US taxes in 1986 to 1988. US Tax Court Judge John Colvin's decision would require Laidlaw to pay $141 million, which consists of $49.6 million in back taxes and $91.4 million in interest. The Internal Revenue Service is likely to question similar deductions the company made from 1989 to 1994, that could cost Laidlaw a total of charge of $500 million. Laidlaw President and Chief Executive Officer James Bullock said the company is planning an appeal. The tax dispute involves Laidlaw International Investments BV, a wholly owned Dutch company formed by Laidlaw Investments Ltd., which is a wholly owned subsidiary of Laidlaw Inc.

Comment:

Losts a US tax ruling, disallowing its $133.5 million reduction of US taxes in 1986 to 1988 by a US Tax Court judge

Taxes, Ambulance Services, Laidlaw Inc.

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Midland breakup fee $33-million

Article Abstract:

Midland Walwyn Inc. of Toronto, Ontario, is required to pay $33 million if its agreement to merge with New York, NY-based Merrill Lynch & Co. Inc. will collapse, according to a report filed with the Canadian securities regulators. The termination fee, which will be paid if Midland's shareholders turn down the bid or if the board of Midland approves a competing deal, includes $3 million to cover expenses Merrill Lynch incurs in the proposed merger. The report also details structure of the Midland-Merrill Lynch merger, including financial terms of the deal and conditions that would trigger a termination.

Comment:

Is expected to receive $33 mil should its agreement to merge w/ Midland Walwyn Inc will collapse

Canada, Securities Dealers, Investment Banking and Securities Dealing, Acquisitions & mergers, Merrill Lynch & Company Inc., Midland Walwyn Inc.

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Livent has lost $4.7-million (U.S.) on shows

Article Abstract:

Livent Inc, a Toronto, Ontario-based theater production company, has lost $4.7 million on its productions since Nov 1998 when it filed for bankruptcy protection. Court documents also show that the company has laid off 98 full-time employees and 270 part-time workers. The company sought bankruptcy protection following an announcement by its new management of the discovery of accounting irregularities linked to co-founders Garth Dabrinsky and Myron Gottlieb.

Sales, profits & dividends, Performing Arts Companies, Theatrical Producers & Artists, Livent Inc.

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