RE: RE: RE: RE: Website Public available information speaks for itself.....
Tough Times and Pension Funding in Canada: Lessons from Slater Steel
Pensions and Benefits Bulletin .....September 2008
This Bulletin from our Pensions and Benefits Group outlines an important issue regarding pension plan funding and governance, particularly in the insolvency and restructuring context. Many businesses with defined benefit pension plans face tough economic times. To minimize expenses, a company may focus on contributions to its pension plan. Our bulletin reviews lessons to be learned from the Slater Steel decision of the Ontario Court of Appeal earlier this year, which exposed 10 directors and officers to possible personal liability of $20 million with no meaningful recourse against the insolvent Slater Steel.2
Carthew Bay Technologies Inc. ("CBT"), formerly known as Astris Energi Inc.,.....In August 2007, existing Management resigned both as Officers and Directors, and the Company appointed existing Directors Michael Liik as the new President and CEO as well as Brian Clewes as the new CFO. New Directors Howard Drabinsky, Managing Partner, Lang Michener LLP, Rick Callander, Portfolio Manager, Marquest Investment Counsel Inc., Chris Besant, Partner, Cassels Brock & Blackwell LLP, were appointed to the Board as well as the continuance of long term Director Art Laudenslager.
It is CBT's objective to utilize this cash, its significant residual tax losses and its US public listing to seek out a new business opportunity. The Company believes that it is in an attractive position to do so given the collective business experience and networks of the new management group as well as Directors. CBT is currently evaluating a number of attractive opportunities and believes that it can consummate a transaction in the not to distant future.
AirDye Solutions is a privately-held, venture capital backed manufacturing company that specializes in sustainable paints, dyes, coatings and other finishing products. Founded in 1989, AirDye Solutions is headquartered in Harrisonburg, Virginia. In 2009, AirDye Solutions changed its named from Colorep, Inc. AirDye Solutions has over 150 customers. ...... The down side to the AirDye technology is that the process only works for synthetics fabrics such as jersey and satin. The method does not work on cotton which is a $100 billion dollar industry.