P.M. BRIEFING : Bond Corp. Trading Suspended
- Share via
SYDNEY, Australia — Alan Bond, the pugnacious survivor of repeated corporate crises this year, suffered a double blow today that left his companies’ debt downgraded and their shares suspended.
The Australian Stock Exchange said it suspended trading in Bond Corp. Holdings Ltd. and a subsidiary after they failed to submit annual reports on time.
The news came hot on the heels of a report from New York that Moody’s Investors Service had lowered its rating on about $490 million of debt owed by Bond’s beer group, Bond Brewing Holdings Ltd.
The stock exchange decision to suspend Bond Corp. Holdings and the 75%-owned Bell Group Ltd. prompted a typical Bond broadside.
“It achieves nothing to suspend the shares of these companies, except to disadvantage shareholders,” Bond said in a statement.
More From the Los Angeles Times
Podcasts
The latest effort is coming from the L.A. County Board of Supervisors. They just announced a $3 million program in conjunction with some nonprofits groups to test and clean the soil at homes still standing in the areas impacted by the Eaton Fire.
California once bet big on offshore wind to help power its clean-energy future, but the Trump administration is now paying developers billions to walk away from their projects. As California’s remaining offshore-wind leases hang in the balance, the state is fighting back in court.
The Hillside Strangler murders terrorized Los Angeles in the late 1970s. The killers were a pair of sadistic cousins. One confessed. The other was set to stand trial—until L.A. prosecutors flinched.
