We have had some talks with Shell company
officials for their return to Iran's oil products market," Managing Director of Pars Oil Company Hassan Vafayee told reporters on the sidelines of the 20th International Oil Exhibition in Tehran.
One of the most obvious illicit uses for a shell company
is when a brand new shell company
is set up and sold to foreign interests without actually operating as anything first.
Chrysler Group LLC (Chrysler), a United States-based automaker, has reached a deal with Shell company
holding to which the automaker had sold its old assets.
A shell company
listed on the stock exchange provides a cheap way for another business to acquire a listing by "reversing" into the shell.
When the business went into liquidation, most of the assets would be transferred to the shell company
and Sykes would then claim extortionate fees.
The chief worry attending a reverse merger, however, is that the shell company
could be contaminated--that unseen troubles lurk below the surface that could prove destructive later on.
This shell company
was acquired by AXIS Specialty U.
It was effectively a shell company
and it was a sham.
Ken Murray boss of Murray Financial has been axed by the Edinburgh-based cash shell company
with a pounds 700,000 pay off.
What often follows, though, are shoe-string maintenance and capital improvements budgets as plants are run into the ground and revenues skimmed off the top by the shell company
shareholders, who grant themselves impressive salaries, bonuses and perks.
A credit check on SJR Enterprises would have revealed this shell company
had no history.
In selling the shell company
back to Enron in March 2001, the couple netted a $10.