Dubai contractor Arabtec to file for liquidation at ‘earliest opportunity’



a group of people riding on the back of a truck: Arabtec 2


© Motivate Publishing
Arabtec 2

Dubai contractor Arabtec Holding has confirmed that it will file an application for its insolvency liquidation at the courts at the “earliest opportunity”.

The decision was taken at a general assembly meeting held on November 30 and reversed efforts sought by a minority group of shareholders to restructure and save the company from liquidation.

“The board has concluded that it is no longer tenable for the company to continue operating outside of a formal insolvency process and that it is in the best interests of the company’s stakeholders that the company be placed into an insolvent liquidation (subject to court approval) at the earliest opportunity,” a statement issued by the company said, following the meeting on Monday.

The conclusion was reached following a two-month period of discussions with key stakeholders. During a board meeting in September, Arabtec shareholders

Read More

New Haven park advocates file suit over $1 land sale to developer

NEW HAVEN — They are not giving up.

Friends of Kensington Playground filed a court complaint over the decision of the city to sell a Dwight neighborhood park for a $1 to a developer as part of a plan to build affordable housing.

Loading...

Load Error

They also filed requests for review with the U.S. Department of Housing and Urban Development and with the State Historic Preservation Office.

A request for comment was left with the city.

The complaint to HUD under the National Environmental Protection Act has been referred by

Read More

Messenger: More complaints file in from former residents of troubled ‘sober homes’ | Tony Messenger

Most of the homes still have people crammed in, he says, including in basements that Holley suspects don’t meet any fire codes. The house on Euclid had a fire a few weeks back. In some ways, Holley was one of the lucky ones. He did work for Shelton and Smith, odd jobs around the house, deliveries, yard work, collecting medications, so that he didn’t have to pay rent for much of the time he was there.

That gave him access to some of the documents Shelton uses to run the facilities. Holley showed me pictures of a database that shows the collections of various residents’ food stamp cards from the state. Shelton takes them, Holley says, and then distributes portions of the $194 per month as allowances to the residents. Many don’t get their full amount back, Holley said.

Shelton’s alleged counseling office called CelebrationPointe, is connected to a car

Read More