European lawsuits over tobacco may go up in smoke
Article Abstract:
The lawsuit against Gallaher Group PLC and Imperial Tobacco PLC has been dismissed, after 46 of the 53 plaintiffs withdrew on the advice of lawyers because their claims were filed too late. Antismoking groups say the dismissal of Britain's first class-action lawsuit against the tobacco industry is a bad sign for their cause. Imperial Tobacco said it spent #7 million defending itself in the case. As part of a deal to waive court costs, the plaintiffs' lawyer, Martyn Day of Leigh, Day, and Co, agreed not to take part in any legal proceedings against any tobacco company in the UK or Ireland for 5 years.
Comment:
Gallaher Group PLC and Imperial Tobacco PLC gain dismissal of the first British class-action lawsuit against tobacco industry
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Laura Ashley's new autumn line includes staff cuts, executive shifts
Article Abstract:
Laura Ashley Holdings PLC, supplier of women's apparel and home furnishings, is undertaking several restructuring moves in hopes of returning to profitability. As part of the reorganization, the retailer's current deputy chief executive, Victoria Egan, is replacing CEO David Hoare, while two company executives who are presently working for group accounting and financial planning are replacing group finance director Richard Pennycook. Laura Ashley is also reducing its international staff by 20% by the end of 1998 in a move anticipated to save 3 million pounds sterling ($4.9 million).
Comment:
Is undertaking several restructuring moves in hopes of returning to profitability
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Yardley Group put into receivership amid debts, losses
Article Abstract:
Yardley Group Ltd., a UK-based perfumier and cosmetics company, has been placed in receivership by accounting firm KPMG. The event comes as Yardley is in the middle of soaring losses and debts of over GBP120 million, or $196.7 million. Yardley's sale was inevitable, according to KPMG official Tony Thompson, as the company is in a longstanding capital crunch, lack of marketing and updating of its brands. The receivership includes Yardley's Old Bond Street Holding Co. and seven subsidiaries. Thompson said that in case that no buyer is found, Yardley will have to be liquidated.
Comment:
Is placed in receivership by accounting firm KPMG due to its longstanding capital crunch & lack of marketing & brand updates
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Turkey's largest ever bank offer. Jamaican banking sales progress. Argentina sells off provincial banks
- Abstracts: Country's two smallest banks mull over a merger. Lessons are learned from the region's financial crisis
- Abstracts: UPS toils at European on-line commerce. Phone bills inflame European net surfers, and the mouse roars. CompuServe Europe beefs up service
- Abstracts: Henlys prepares revised offer for Dennis merger. Rank weighs sale of nightclubs in bid to refocus its business
- Abstracts: China hesitates over 'Mulan.' China hesitates over "Mulan."(China's film bureaucrats demand a breather for Chinese films)