Business and Financial News

Debt-laden law firm Halliwells has filed for court permission to appoint an administrator and looks set to be broken up, it emerged today.

The firm, based in Spinningfields, Manchester, may undergo a pre-pack administration process if a buyer can be found for some of its assets.

Hill Dickinson is in talks to take over some of Halliwells’ operations with Barlow Lyde & Gilbert interested in its insurance practice.

Halliwells, which is said to owe around £20m to the Royal Bank of Scotland, is expected to be dissolved after a transfer of assets.

The filing for intention to appoint an administrator will give the firm time to negotiate with potential buyers.

Halliwells’ future has been the talk of Manchester’s legal scene for some time and it is thought Hill Dickinson is lining up a move into its Spinningfields premises.

Halliwells’ problems have been attributed to the high cost of its move to the new Manchester business district from its former home in St James’s Court, Brown Street, as well as the impact of the recession which has hit its property and corporate work.

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At the depth of the recession when there was a falling market for new cars, strikes were almost welcome in the US and EU. Most car companies had so much inventory that a break in factory production had some good side effects. That may be a reason why Ford (NYSE: F), GM, and Chrysler did so well in negotiations with the UAW two years ago.

It is a different matter today in China. The market is now the world’s largest for vehicle sales. Seventeen million cars and trucks will probably be sold in the People’s Republic this year, more sales than the US ever generated. That makes the labor strikes, which have begun once again at Honda (NYSE: HMC) and Toyota (NYSE: TM), all the more costly.The two Japanese car companies said they had stopped production at their plants in southern China. Loc

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National construction giant John Holland has won a state government contract to design and build $92.3 million in education and health projects in the East Kimberley.

“The State Government has met a major milestone with the awarding of this contract, which will see health and education services transformed in the East Kimberley,” said Regional Development Minister Brendon Grylls.

“The contract includes a $48.5million upgrade to the Kununurra Education Precinct; a $9million upgrade to the Kununurra TAFE complex; and more than $32million in health infrastructure development.

“These projects will deliver tangible benefits to East Kimberley and help create stronger, more vibrant and sustainable local communities into the future.”

Under a national partnership agreement, the State and Federal governments are addressing social inclusion and indigenous disadvantage in the region.

As part of the contract, John Holland will be required to work with local businesses and the indigenous community to develop an Indigenous Participation Plan.

“This project overall has a strong focus on achieving indigenous outcomes,” the Minister said.

“The contractor was chosen having demonstrated success in achieving indigenous outcomes through construction projects and will ensure indigenous participation in the projects.

“By engaging the local community, the project will help ensure greater indigenous employment outcomes and the development of services will go a long way in helping close the gap between indigenous and non-indigenous people in the region.”

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In Congress, the Democrats sit on one side and the Republicans sit on the other. Is it any wonder that the parties don’t get along? Or that they lack the resolve and unity of purpose to find common solutions to our nation’s huge problems?

Without a doubt, as Joe Reeder, a Washington lawyer and former assistant secretary of the Army, describes in his article, Break Up the Parties, “this segmented seating arrangement shelters our representatives from opposing points of view, reduces the need for common courtesy, reinforces the worst tendencies of a two-party system, and undermines efforts at cooperation.”

Being physically and emotionally separated by party intensifies the partisan rancor that’s innately alive.

What if, instead of being seated by party, representatives were seated alphabetically?

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The administrators of tile manufacturer and distributor Pilkington’s Group have confirmed that 204 staff have been made redundant at the group’s Swinton headquarters.

The privately-owned group was placed in administration on Monday after repeated attempts to refinance the business failed.

Distraught staff were in tears after being told by bosses not to return to work until further notice.

Pilkington’s previously employed 380 staff, including 343 at Swinton, where production of its terrazzo flooring range is planned to restart next week.

It is still hoped that elements of the business can be sold as a going concern and will continue trading – including the terrazzo division – though the group looks set to be broken up for a sale.

Pilkington’s, which was founded in 1892, last changed hands in 2004 when it was taken private by a consortium.

Last year it announced a £500,000 investment at its Salford factory to develop new product ranges, upgrade manufacturing equipment and a create new factory outlet bathroom showroom.

Paul Flint, joint administrator and restructuring associate partner at administrators KPMG, said: “Unfortunately, on assessing the demand for the company’s products, it has been necessary to make 204 staff redundant.

“Negotiations with customers are ongoing and we are hopeful that we will be able to recommence production of terrazzo flooring and the ceramic products in the Swinton factory in Greater Manchester early next week.

“We continue to work hard on securing a buyer for the business, either in distinct parts or as a whole.

“To date, a great deal of buyer interest has been shown in the terrazzo and ceramics production.”

Pilkington’s tiles are sold directly to householders as well as builders, DIY chains, builders’ merchants and architects.

They are used in schools, airports, hospitals and homes and its brands include Pilkington’s and Quiligotti Terrazzo.

The company also has a showroom and factory shop in Audenshaw, Tameside.

Thirty-seven jobs have been axed at its factory in Poole, Dorset, which is being closed.

Eight employees are being kept on there to maintain the site and despatch orders.