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Atlantic Computers
Atlantic Computers plc (also Atlantic Computer Systems plc) was a British computer lessor and technology services firm, set up in 1975, that collapsed in 1990. Its fall also brought down its parent company British and Commonwealth Holdings, a financial services firm which had acquired it for £434 million in 1988. The company leased computers systems using complex 'Flexlease' agreements, which allowed a lessee to update to a new lease after a three years or to cancel the lease after five years. These terms made Atlantic vulnerable to large liabilities incurred if invoked which were often not covered by the value of the equipment itself. During acquisition talks, Atlantic misrepresented its contingent liabilities and by the time of its collapse, had more than £550m in debt. While its American arm filed for Chapter 11 bankruptcy on 5 July 1990, the British firm had been placed in administration with PricewaterhouseCoopers on 18 April. The group employed around 1,400 people at the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lessor (leasing)
Lessor is a participant of the lease who takes possession of the property and provides it as a leasing subject to the lessee for temporary possession. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee. The lessor may be the owner of the property or an agent authorized on the owner's behalf. Commercial banks, credit non-bank organizations, leasing companies often act as lessors. Terminology A lessor can be both legal entity and individual. Nevertheless, the term “leasing company” sometimes is used as a synonym to the term “lessor”. The Seller of the property and the lessor can be one and the same person. The role of lessor The process of interaction of the lessor with other participants of the Leasing Contract is as follows: #The Lessee chooses the seller who possesses the required property #The lessor acquires this property. He acquires the property not for his own use, but specifically for assignment for temporary use. #The lessor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of The Board Of Trade
The president of the Board of Trade is head of the Board of Trade. This is a committee of the His Majesty's Most Honourable Privy Council, Privy Council of the United Kingdom, first established as a temporary committee of inquiry in the 17th century, that evolved gradually into a government department with a diverse range of functions. The current holder is Kemi Badenoch, who is concurrently the Secretary of State for International Trade. History The idea of a Board of Trade was first translated into action by Oliver Cromwell in 1655 when he appointed his son Richard Cromwell to head a body of Lords of the Privy Council of the United Kingdom, Privy Council, judges and merchants to consider measures to promote trade. Charles II of England, Charles II established a Council of Trade on 7 November 1660 followed by a Council of Foreign Plantations on 1 December that year. The two were united on 16 September 1672 as the Board of Trade and Plantations. After the Board was re-establish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Companies Disestablished In 1990
American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, people who self-identify their ancestry as "American" ** American English, the set of varieties of the English language native to the United States ** Native Americans in the United States, indigenous peoples of the United States * American, something of, from, or related to the Americas, also known as "America" ** Indigenous peoples of the Americas * American (word), for analysis and history of the meanings in various contexts Organizations * American Airlines, U.S.-based airline headquartered in Fort Worth, Texas * American Athletic Conference, an American college athletic conference * American Recordings (record label), a record label previously known as Def American * American University, in Washington, D.C. Sports teams Soccer * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Companies Established In 1975
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, the English language as spoken and written in the United Kingdom or, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *''Brit(ish)'', a 2018 memoir by Afua Hirsch *People or things associated with: ** Great Britain, an island ** United Kingdom, a sovereign state ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) See also * Terminology of the British Isles * Alternative names for the British * English (other) * Britannic (other) * British Isles * Brit (other) * Brito ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1975 Establishments In England
It was also declared the ''International Women's Year'' by the United Nations and the European Architectural Heritage Year by the Council of Europe. Events January * January 1 - Watergate scandal (United States): John N. Mitchell, H. R. Haldeman and John Ehrlichman are found guilty of the Watergate cover-up. * January 2 ** The Federal Rules of Evidence are approved by the United States Congress. ** Bangladesh revolutionary leader Siraj Sikder is killed by police while in custody. ** A bomb blast at Samastipur, Bihar, India, fatally wounds Lalit Narayan Mishra, Minister of Railways. * January 5 – Tasman Bridge disaster: The Tasman Bridge in Hobart, Tasmania, Australia, is struck by the bulk ore carrier , killing 12 people. * January 7 – OPEC agrees to raise crude oil prices by 10%. * January 10–February 9 – The flight of ''Soyuz 17'' with the crew of Georgy Grechko and Aleksei Gubarev aboard the ''Salyut 4'' space station. * January 15 – Alvor Agreement: Portugal a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Companies Established In 1975
A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations ( computation) automatically. Modern digital electronic computers can perform generic sets of operations known as programs. These programs enable computers to perform a wide range of tasks. A computer system is a nominally complete computer that includes the hardware, operating system (main software), and peripheral equipment needed and used for full operation. This term may also refer to a group of computers that are linked and function together, such as a computer network or computer cluster. A broad range of industrial and consumer products use computers as control systems. Simple special-purpose devices like microwave ovens and remote controls are included, as are factory devices like industrial robots and computer-aided design, as well as general-purpose devices like personal computers and mobile devices like smartphones. Computers power the Internet, which l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1990 Disestablishments In England
Year 199 ( CXCIX) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. At the time, it was sometimes known as year 952 ''Ab urbe condita''. The denomination 199 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Mesopotamia is partitioned into two Roman provinces divided by the Euphrates, Mesopotamia and Osroene. * Emperor Septimius Severus lays siege to the city-state Hatra in Central-Mesopotamia, but fails to capture the city despite breaching the walls. * Two new legions, I Parthica and III Parthica, are formed as a permanent garrison. China * Battle of Yijing: Chinese warlord Yuan Shao defeats Gongsun Zan. Korea * Geodeung succeeds Suro of Geumgwan Gaya, as king of the Korean kingdom of Gaya (traditional date). By topic Religion * Pope Zephyrinus succeeds Pope Victor I, as the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Companies Disestablished In 1990
A computer is a machine that can be programmed to carry out sequences of arithmetic or logical operations (computation) automatically. Modern digital electronic computers can perform generic sets of operations known as programs. These programs enable computers to perform a wide range of tasks. A computer system is a nominally complete computer that includes the hardware, operating system (main software), and peripheral equipment needed and used for full operation. This term may also refer to a group of computers that are linked and function together, such as a computer network or computer cluster. A broad range of industrial and consumer products use computers as control systems. Simple special-purpose devices like microwave ovens and remote controls are included, as are factory devices like industrial robots and computer-aided design, as well as general-purpose devices like personal computers and mobile devices like smartphones. Computers power the Internet, which links bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soden V British And Commonwealth Holdings Plc
''Soden v British and Commonwealth Holdings plc'' 998AC 298 is a UK insolvency law case, decided in the House of Lords. It decided that damages for negligent misrepresentation inducing purchase of company shares are not "sums due" to shareholders for the purpose of the Insolvency Act 1986, s 74(2)(f), so that a claim for such damages is not subordinated to claims from other creditors. Facts British and Commonwealth Holdings plc ("BCH") bought all the shares in Atlantic Computers plc ("AC") for £434m in 1988. Both went into administration. BCH brought an action against AC for negligent misrepresentation, which induced BCH to buy shares, and also against its advisors in the acquisition Barclays de Zoete Wedd Ltd. ("BZW") started proceedings against AC for contribution. AC's administrator appealed against a Court of Appeal ruling,9972 WLR 206, 9962 CLY 3498 arguing that neither BZW's, nor BCH's claim would be subordinated to the claims of other creditors under s 74(2)(f) IA 198 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Atlantic Computer Systems Plc (No 1)
''Re Atlantic Computer Systems plc (No 1)'' Atlantic Computers">Atlantic Computer Systems plc, recently taken over by British and Commonwealth Holdings, had hired a set of computers. It went into insolvency. The company lending the computers attempted to repossess them. The administrators argued this was impermissible. Judgment The Court of Appeal held that the computers could not be repossessed directly. The landlords and hire purchase sellers could not get money as an expense of administrative receivership either, because ‘the lessor or owner of goods has his remedies.’ Nicholls LJ gave guidance on exercising security rights against companies in administration. Referring to the old s 11, he said the following.992Ch 505, 541-4 See also * UK insolvency law *'' Soden v British and Commonwealth Holdings plc'' 998 Year 998 ( CMXCVIII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. Events By place Europe * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While Bankruptcy in the United Kingdom, UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualifica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Independent
''The Independent'' is a British online newspaper. It was established in 1986 as a national morning printed paper. Nicknamed the ''Indy'', it began as a broadsheet and changed to tabloid format in 2003. The last printed edition was published on Saturday 26 March 2016, leaving only the online edition. The newspaper was controlled by Tony O'Reilly's Irish Independent News & Media from 1997 until it was sold to the Russian oligarch and former KGB Officer Alexander Lebedev in 2010. In 2017, Sultan Muhammad Abuljadayel bought a 30% stake in it. The daily edition was named National Newspaper of the Year at the 2004 British Press Awards. The website and mobile app had a combined monthly reach of 19,826,000 in 2021. History 1986 to 1990 Launched in 1986, the first issue of ''The Independent'' was published on 7 October in broadsheet format.Dennis Griffiths (ed.) ''The Encyclopedia of the British Press, 1422–1992'', London & Basingstoke: Macmillan, 1992, p. 330 It was produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
