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New Rights News

14 Sep 2021

Brazil Port Regulator Targets Bunge, Two Port Agencies in Probe

© Jair / Adobe Stock

Brazil's port regulator targeted the local unit of global grains merchant Bunge and two port agents in an investigation announced on Tuesday, threatening the trader's dominant position at a key export hub in the south of the country.The probe, ordered by port regulator Antaq via regulatory decision in the official government gazette, centers on alleged irregularities in a contract to move grain cargos at public terminals in the port of São Francisco do Sul.A regional branch of Antaq in Santa Catarina state will conduct the probe…

29 Oct 2013

Canada Makes MLC Real, Detains Another Ship

The ITF in Canada has been making full use of new rights for seafarers to ensure fair treatment and pay. A Japanese-owned, Panama-flagged bulk carrier became the third vessel to be detained in the country under the Maritime Labour Convention 2006 (MLC), which came into force in August. The Kouyou was detained in Quebec after ITF inspectors found that the crew were owed more than USD51,500 in back pay. ITF inspector Gerard Bradbury said that the 20 crew from Myanmar and Vietnam and the Canadian captain were not being paid or treated properly, in particular with the pay that should have been allotted to their families at home. He also found that crew had paid USD6600 to obtain their jobs, although recruitment fees are illegal under international labour conventions.

31 Dec 2012

European Ship Passengers Have Rights Too

Europeans better protected legally when travelling by water from now onwards. As from 31 December 2012, passengers travelling by sea will have the right to claim compensation for loss or damage in the event of accidents. Passengers travelling by sea and inland waterways in the EU, and in particular disabled persons and persons with reduced mobility, will benefit from similar rights to those passengers travelling by air or by train. Appointment of independent national bodies in charge of enforcing the regulation, where appropriate, through the application of penalties. Right to receive appropriate and comprehensible information regarding the above rights prior to or –at the latest – upon departure.

02 Dec 2008

Dril-Quip Adopts Stockholder Rights Plan

Dril-Quip, Inc. (NYSE:DRQ), manufacturer of offshore drilling and production equipment, announced that its Board of Directors has adopted a Stockholder Rights Plan designed to protect the company's stockholders from coercive or unfair takeover techniques. Terms of the Rights Plan provide for a dividend distribution of one right for each outstanding share of common stock to holders of record at the close of business on December 5, 2008. The Rights Plan would be triggered if an acquiring party accumulates 15 percent or more of the company's common stock and would entitle holders of the rights to purchase either shares of the company's stock or shares in an acquiring entity at half of market value.

22 Mar 2007

Manitowoc Company Enters New Rights Agreement

The Manitowoc Company announced that its Board of Directors has adopted a new Rights Agreement. In connection with its approval of the Rights Agreement, the Board of Directors declared, to shareholders of record as of March 30, 2007, a dividend distribution of one right for each outstanding share of Common Stock of the Company. The new rights replace similar rights that the Company issued under its Rights Agreement that expired on September 18, 2006. Generally, the rights will be exercisable only if a person or group acquires 20% or more of the Company’s Common Stock or announces a tender offer, the consummation of which would result in ownership by a person or group of 20% or more of the Common Stock.