LANSING, Mich. (WLNS) – A pawn shop owner in south Lansing caught a thief on-camera stealing more than $2,000 worth of diamond jewelry from his store, while the thief's three accomplices kept the storeget more >>
Surveillance video catches a suspected thief stealing more than $2,000 worth of diamond jewelry from a Lansing pawn shopget more >>
EAST LANSING, Mich. (WLNS) - East Lansing Police are looking for a man they believe sexually assaulted two Michigan State University students. The most recent incident happened around 8:30p.m. Thursdayget more >>
The most recent incident happened around 8:30p.m. Thursday in the parking lot of Abbott Pointe Apartmentsget more >>
EAST LANSING, Mich. (WLNS) - Three East Lansing High School teens accused of scratching swastikas into two other students' lockers could face criminal charges, but not for the content of controversialget more >>
East Lansing Police say one of the victims was a Jewish girl who took offense to the symbol on her lockerget more >>
Three East Lansing high school teens could face criminal charges for scratching swastikas into two other student's lockers. East Lansing police say one of the victims was Jewish. The president of theget more >>
Three East Lansing high school teens could face criminal charges for scratching swastikas into two other student's lockers.
East Lansing police say one of the victims was Jewish.get more >>
LANSING, Mich. (WLNS) - A local student got a big surprise in the form of a free private high school education. Rachel Smith, a student at Lansing Charter Academy, received a check Friday for more thanget more >>
Rachel Smith, a student at Lansing Charter Academy, received a check Friday after winning a national essay contestget more >>
LANSING, Mich. (WLNS) -- Several former employees of a Lansing-based production company say for months, the business often skipped payday, and sometimes didn't pay at all. Five former employees of Lifeget more >>
Former employees of a Lansing-based production company say the business often skipped payday, and sometimes didn't pay at all.get more >>
ADRIAN, Mich. (AP) - A Michigan man who pleaded guilty to second-degree murder in the slaying of a 63-year-old woman has been sentenced to life in prison. The Jackson Citizen Patriot reports Steven Stormget more >>
Judge Timothy Pickard called Storm a "psychopath" during the hearing, saying he'll work to ensure Storm never is released from prisonget more >>
EAST LANSING, Mich. (AP) - A former high school football coach in Pennsylvania has been sentenced to 25 years in prison for computer-related crimes that stretched to East Lansing. Joseph Ostrowski admittedget more >>
Federal prosecutors in Michigan say the investigation began in 2011 with campus policeget more >>
The confederate flag brings out all kinds of emotions and one student in DeWiitt was suspended from school for flying it on his truck after he was told to take it down. But as our Nick Perreault explains,get more >>
One student in DeWiitt was suspended from school for flying it on his truck after he was told to take it downget more >>
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SOURCE SeaCo Ltd.
HAMILTON, Bermuda, March 18, 2013 /PRNewswire/ -- SeaCo Ltd. (OTC: SEAOF) (the "Company" or "SeaCo") announced that its Board of Directors had declared a second liquidating distribution of $0.05 per common share, which will be paid on April 10, 2013, to shareholders of record at the close of business on April 1, 2013. The aggregate distribution will total approximately $33 million based on the number of shares of common stock currently outstanding. This liquidating distribution will be made pursuant to the Plan of Liquidation of SeaCo Ltd., approved by the Company's stockholders on August 17, 2011.
The liquidating distribution announced today represents a partial distribution of proceeds totaling approximately $34 million that SeaCo has received from a trust established under the Plan of Reorganization of Sea Containers Ltd. ("Sea Containers") that was funded with SeaCo shares for possible distribution to certain claimants against Sea Containers. These proceeds represent the return of certain distributions made by the Company to the trust in January 2012, on account of approximately 53 million SeaCo shares then held by the trust, which have since been canceled. Following the cancellation of these shares, approximately 661 million shares remain outstanding.
Substantially all of the Company's assets were sold in December 2011. Pursuant to the terms of the sale, approximately $41 million of the sale proceeds were placed into escrow. To SeaCo's knowledge, no claims have been made upon the escrowed amount.
About SeaCo Ltd.
SeaCo Ltd. is a Bermuda based shipping container investment and leasing group, which was formed in February 2009 to hold the existing container leasing investments of Sea Containers Ltd., following its U.S. Chapter 11 reorganization. Additional information is available at: www.seacoltd.com.
Forward Looking Statements
This press release may contain "forward-looking statements". The words "may," "could," should," "would," "believe," anticipate," "estimate," "expect," "intend," "plan," "target," "goal," and similar expressions are intended to identify forward-looking statements. All forward-looking statements are subject to certain risks and uncertainties and are subject to change based on various factors, many of which are beyond the control of SeaCo Ltd. These risks and uncertainties include, but are not limited to, the Company's ability to convert its remaining assets into cash, possible contingent liabilities and post-closing indemnification and other obligations arising from the sale of the Company's businesses, risks associated with the liquidation and dissolution of the Company, the Company's ability to settle, make reasonable provision for or otherwise resolve its liabilities and obligations, the amount of income earned on the Company's cash and cash equivalents and short-term investments and expenses incurred. SeaCo Ltd. undertakes no duty to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law.
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