Baja Ferries Formalizes Bid for SNCM

first_imgzoom Mexican ferry company Baja Ferries has filed a formal takeover offer with the Marseilles bankruptcy court for debt-stricken French ferry operator Société Nationale Maritime Corse Méditerranée (SNCM).As written by the French newspaper Les Echoes, Baja Ferries Chief Executive Officer Daniel Berrebi confirmed he had written to the court formalising the offer.As announced, should the offer be approved Berrebi plans to keep 800 of SNCM’s 1,500 staff.The offer stipulates keeping of the Marseille-Corsica lines and launching of new services from Marseille to Morocco, Tunisia and Algeria. However, Baja intends to shut down routes from Nice and Toulon.Another bid is being prepared as well from a group of unidentified investors lead by Marseilles businessman Christian Garin.SNCM filed for bankruptcy in November to avoid immediate liquidation and is now undergoing court protection proceedings, launched on Friday.The debt-laden ferry operator has six months, as decided by the court, to find a buyer for its Mediterranean business.SNCM was ordered to pay back USD 550 million of French state aid in SeptemberAccording to a court ruling,  the European Commission had been wrong to approve the aid package as the circumstance under which the financial aid was given to the firm were not in accordance with that applicable to a private investor.Workers have been urging the state to keep the company afloat and have been staging strikes since June.World Maritime News Stafflast_img read more

Annual New Years Day Levee

first_imgNova Scotians are invited to attend the annual lieutenant-governor’s New Year’s Day Levee on Tuesday, Jan. 1, at Government House, Halifax. “Patsy and I look forward to welcoming in the New Year with our fellow Nova Scotians for the annual levee at Government House,” said Lt.-Gov. Arthur J. LeBlanc. “It is a great pleasure to meet everyone and wish them the very best as we begin 2019.” During the levee people can exchange New Year’s greetings with the lieutenant-governor and Mrs. LeBlanc and visit the oldest vice-regal residence in North America. The levee will be held from 11 a.m. to 12:30 p.m. Government House is at 1451 Barrington St.last_img read more

Multivehicle crash sends driver to hospital

A four-vehicle crash on the QEW in Grimsby overnight is suspected to be alcohol-related.Just before midnight, one car went through the fence separating the QEW from the North Service Road between Casablanca and Fifty Road.Three other vehicles were hit.   Paramedics assessed seven people – but only the driver of the car that went through the fence went to hospital.The Toronto-bound lanes of the highway were closed for about an hour and a half.