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PRESS DIGEST- British Business - April 19

April 19 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

UPDATE 2-Sears sues Lampert, claiming he looted assets and drove it into bankruptcy

NEW YORK, April 18 Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt.

Banks ordered to disclose bondholder information to Puerto Rico board

SAN JUAN, April 18 A judge on Thursday ordered banks to comply with a request from Puerto Rico's federally created financial oversight board to disclose customer information related to certain debt issued by the bankrupt U.S. commonwealth.

UPDATE 1-Azul no longer bidding for Avianca Brasil's routes -CEO

SAO PAULO, April 18 John Rodgerson, chief executive of Brazilian carrier Azul SA, told a news conference on Thursday that the airline is no longer bidding for routes operated by Avianca Brasil, which filed for bankruptcy protection in December.

REFILED-U.S. will not prosecute Miami gold refinery after money laundering probe

LONDON, April 18 The U.S. Attorney's Office said it has agreed not to prosecute one of the country's biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering.

Sears sues Lampert, claiming he looted company and drove it into bankruptcy

NEW YORK, April 18 Sears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Investments, and former directors including Treasury Secretary Steven Mnuchin, accusing them of allowing the retailer to be looted of billions of dollars before its October 2018 bankruptcy.

Debenhams CEO Bucher quits after lenders take control

LONDON, April 18 Debenhams said on Thursday its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group's lenders took control.

'Can't sleep at night': Despair over jobs as India's Jet Airways grounded

MUMBAI, April 18 Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis.

BRIEF-Cerbium Holding Says Court Agrees To Open Liquidation Phase


Apr 18 2019


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