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Clear Leisure PLC announces liquidation of ORH SpA

Wednesday, 12 Feb 2014 02:00am EST

Clear Leisure PLC:ORH SpA its 73.43 pct hotel and travel company, has been placed into voluntary liquidation by the company at the Milan Tribunal.Says this decision was made by the board of ORH, after the discovery by the company of a sizable, undisclosed debt position mainly on the African hotels under ORH’s previous management.Says this has created a situation where the continuation of business activities by ORH has been considered uneconomical.Says restructuring of this debt to be too expensive compared to the value of the assets under ORH’s control.Says it has to date, recovered 7.2 mln of the above mentioned shares, as announced on Dec. 3, 2013, with the remaining 7.2 mln shares being returned before Feb. 15.

Indiabulls Properties Investment Trust announces on striking off of wholly-owned subsidiaries

Friday, 31 Jan 2014 09:13am EST

Indiabulls Properties Investment Trust:Says wholly-owned subsidiaries have initiated the process of getting their name removed (struck off) from the register of companies pursuant to the applicable legislation in the respective countries of incorporation.Says as part of IPIT’s effort to rationalise the structure of IPIT and its subsidiaries.

Phaunos Timber Fund Ltd announces management arrangements

Monday, 2 Dec 2013 03:00am EST

Phaunos Timber Fund Ltd:Says it termination of Management Contract with FourWinds Capital Management.Says it has established a new subsidiary, Phaunos Boston, Inc., through which it intends to manage its assets.Says the Board has entered into a consultancy agreement with Stafford Timberland Limited.

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