Stephen Cave is licensed to act as an Insolvency Practitioner in the United Kingdom.The licence is granted in Ireland by Chartered Accountants Ireland.
As Saudi analysts were quick to point out, the purge by the Saudi King means that King Abdallah’s last remnants (Riyad firmer gov. Guard); media moguls; SAGIA & financial policy officials have been purged.
The assets in the sale to Sharon constituted approximately 51 percent of UV’s total assets at the start of the liquidation process.
It was soon realized that neither UV nor Sharon could buy back the debentures because the debenture holders, knowing that the companies were in a position to buy, held out for higher than market prices even though the debentures were worth less than market value.
UV had three subsidiaries and developed a plan to liquidate by selling all of its assets including the subsidiaries.
On March 29, 1979, UV sold one of its subsidiaries for 5 million in cash (part of which was distributed to its stockholders).Pricewaterhouse Coopers LLP will act as Data Processor on their instructions.