Report
Cineworld Group plc Bankruptcy Case Study!
8th Fl, Vantage London, Great West Road
Phone: +44 2089875000p:+44 2089875000 BRENTFORD, TW8 9AG  United Kingdom
On 7/31/2023, Cineworld Group Plc was placed into Administration.
Simon J Appell and Ian Partridge both of AlixPartners UK LLP were appointed as the Administrators of the Company.
The Administration order applies only to Cineworld Group plc and not to any of its operating companies or subsidiaries.
As part of the Emergence from Bankruptcy, Cineworld Group plc has ceased to hold any interest in the Emerged group. The group is now under the control of the new entity New Cineworld Midco Limited with the exception of Cineworld Group plc.
This company is no longer actively traded on any major stock exchange.

AND NOW BACKLASH IS SPREADING


Astrazeneca, Cineworld and Ocado look likely to be caught up in the shareholder spring as the backlash over fat cat pay intensifies.

The companies are due to hold their annual general meetings next week, with Astra first on Tuesday.

The drugs giant has been praised for rolling out a Covid-19 vaccine at no profit but it is under fire for a ‘wrong and ill-judged’ increase in pay to chief executive Pascal Soriot.

Under a long-term bonus plan, the Frenchman, 61, could soon get up to 650pc of his £1.3m salary, rather than 550pc – taking the maximum payout from £7.2m to £8.5m.

Neville White, of Astra shareholder EdenTree Investment Management, said the package ‘tarnished’ the company’s pandemic achievements.

City stalwart Legal & General, meanwhile, waded into the pay row at Cineworld, saying it would vote against the re-election of board members including chairman Alicja Kornasiewicz because of its concerns.

And advisory group Pirc has branded Ocado boss Tim Steiner’s £7m pay packet ‘excessive and unacceptable’ and urged shareholders to rebel. Fellow adviser Glass Lewis also said executives would receive ‘extremely large payouts’ regardless of performance.

© Daily Mail

Related Businesses
- - Customer
Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement. 
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Saturday, April 27, 2024