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Schoolboy arrested on suspicion of assaulting feminine classmate at Hong Kong faculty hit by spate of bullying incidents earlier this 12 months – NEWPAPER24

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Schoolboy arrested on suspicion of assaulting feminine classmate at Hong Kong faculty hit by spate of bullying incidents earlier this 12 months

2019-04-17 14:29:38




A Hong Kong schoolboy was arrested on Wednesday accused of assaulting a feminine classmate at a faculty hit by a spate of bullying incidents in January.The sufferer – a Type Three pupil – additionally claimed she was molested from behind in the course of the dispute in a classroom at Yan Chai Hospital Tung Chi Ying Memorial Secondary Faculty in Ma On Shan at about 9am on Wednesday.The woman informed investigators that 4 male classmates stood behind her on the time of the alleged indecent assault, in line with a police…

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Hong Kong points crimson journey warning for Sri Lanka after bombings that killed not less than 290 – NEWPAPER24

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Hong Kong points crimson journey warning for Sri Lanka after bombings that killed not less than 290

2019-04-22 11:47:01




Hong Kong has issued a “crimson” journey alert warning its residents to keep away from visiting Sri Lanka following Sunday’s wave of bombings at church buildings and accommodations that killed not less than 290.The advisory got here as journey companies mulled whether or not to cancel excursions scheduled for subsequent month because the South Asian nation recovers from a number of assaults throughout Colombo and two different coastal cities.Some 35 travellers with three native excursions have been in Sri Lanka on Monday, with one group set to return to town on Tuesday. The…

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Hyflux has ‘credible’ revival plan, to file for moratorium extension on Thursday: SIAS – NEWPAPER24

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Hyflux has ‘credible’ revival plan, to file for moratorium extension on Thursday: SIAS

2019-04-22 11:35:43

SINGAPORE: Embattled water therapy agency Hyflux has a “credible” revival plan on the desk and can apply for an extension of its debt moratorium this week in a bid to work issues out, in response to the Securities Buyers Affiliation Singapore (SIAS) on Monday (Apr 22).

The plan, which can want “no less than three months” to materialise, shall be a “win” for the aggrieved 34,000 holders of Hyflux’s perpetual securities and desire shares as there’s a likelihood that they won’t need to endure haircuts, mentioned SIAS president David Gerald. 

Mr Gerald was talking to CNA after a closed-door assembly with Hyflux’s founder-CEO Olivia Lum, administrators and a authorized advisor from WongPartnership. Mr Nicky Tan of nTan Company Advisory, a widely known restructuring specialist who was lately roped in by Hyflux, was additionally on the assembly held at SIAS’s workplace on Monday afternoon. 

The session, initiated by SIAS to seek out out if Hyflux had a back-up plan following the termination of an important rescue deal final month, was a “fruitful” one, mentioned Mr Gerald. 

However he declined to speak about specifics of the brand new plan because it should be first submitted to the Singapore courtroom in an affidavit for the case administration convention on Thursday. 

“They’ve revealed that they’ve been actively engaged on one other new plan. They will’t reveal the complete particulars however having mentioned with them behind closed doorways, I’m fairly optimistic.”

When requested if the brand new plan entails one other white knight, Mr Gerald would solely say: “There isn’t any point out of a white knight however there are numerous methods to pores and skin a cat … It doesn’t need to be the way in which it occurred the final time.”

He famous that the advisors have give you a “new means of restructuring the corporate” – one that may guarantee each the senior unsecured collectors, and the “subordinated” perpetual securities and desire shareholders, are “a lot better off than in a liquidation”.

“For the perpetual securities and desire shareholders, they get nothing if there’s no plan. They wished one thing cheap so the corporate will now preserve (them) entire on the e book and they won’t be requested to take a haircut,” mentioned Mr Gerald, although he declined to take a position how that is perhaps accomplished.

Nonetheless, he known as for persistence and urged all events to offer Hyflux time to work out a plan to keep away from liquidation.

“Given the laborious work that’s been put in and the injection of latest advisors, I feel we are able to hope for one of the best,” mentioned the president of the investor advocacy group.

It’s been a torrid few weeks for the previous star water therapy agency, marked by a public protest staged by indignant retail traders and an surprising U-turn in its S$530 million rescue take care of Indonesian consortium SM Investments. 

The latter has left market observers speculating that Hyflux is edging in the direction of a liquidation, with its court-sanctioned moratorium set to run out on Apr 30. To get extra time to maintain collectors at bay, it has to file functions to the courtroom by Thursday.

So as to add to its complications, nationwide water company PUB mentioned on Apr 17 that it’s going to take over the Tuaspring desalination plant in 30 days, whereas monetary regulators right here additionally mentioned final week that they’re reviewing the disclosure and accounting practices of the debt-stricken firm. 

In the meantime, Hyflux has taken its spat with would-be white knight SM Investments to the courts. The Indonesian consortium retaliated just a few days later, noting that it’s going to even be suing the Singapore agency.

Each events are actually vying for the S$38.9 million deposit, which was positioned in escrow shortly after the execution of the restructuring settlement.

On that, Mr Gerald mentioned he’s calling for each Hyflux and SM Investments to settle the lawsuits “amicably and rapidly” in gentle of the brand new plan, in addition to how the destiny of Hyflux is keenly watched by many retail traders who’ve put in massive quantities of their financial savings. 

“I name on each SM Investments and Hyflux to come back to a fast settlement.”

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Mattress Tub & Past’s co-founders retire from board, provides 5 new members – NEWPAPER24

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Mattress Tub & Past’s co-founders retire from board, provides 5 new members

2019-04-22 10:30:46

Mattress Tub & Past Inc on Monday mentioned its co-founders and co-chairmen Warren Eisenberg and Leonard Feinstein would retire from the board and the retailer would appoint 5 unbiased board administrators.

FILE PHOTO: The signal exterior the Mattress Tub & Past retailer is seen in Westminster, Colorado, June 22, 2016. Newpaper24/Rick Wilking

Newpaper24: Mattress Tub & Past Inc on Monday mentioned its co-founders and co-chairmen Warren Eisenberg and Leonard Feinstein would retire from the board and the retailer would appoint 5 unbiased board administrators.

Shares of the corporate had been up 4.6 pct at US$18.21 earlier than the bell.

Final month, the house furnishing retailer confronted stress from a trio of activist traders – Legion Companions Asset Administration LLC, Macellum Advisors GP LLC and Ancora Advisors LLC – to substitute its complete board and oust Chief Govt Steven Temares.

The corporate on Monday mentioned it had invited the activist group to take part within the transformation of the board, however the traders declined the invitation.

(Reporting by Nivedita Balu in Bengaluru; Enhancing by Shinjini Ganguli)

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