Newspaper surprised to be warned by Registrar
newspaper company had been warned that it could be struck off the Bermuda Register of Companies.
The company was one of 82 listed in an official notice in the Bermuda Sun on Friday.
If the companies cannot show that they are still active, they will be struck off and dissolved by the Registrar of Companies.
Other companies listed by the Registrar included tourist publication owner The Bermuda Weekly Ltd., Bermuda Industrial Gases, Bermuda Steel Erectors & Welders, The Front Street Trader, Inter-Rest Management, La Corte, Paine Webber (Bermuda), Politix, Pereira's Excavating and Landscaping, POS Point of Service, Ryco Bermuda and Scottcrafts.
Times chairman Dr. Ewart Brown MP said yesterday: "I have received no communication with respect to this.'' Dr. Brown, who has 35 percent of the Times' shares, conceded the paper, owes Government back taxes but said he planned to inquire as to exactly why it was included in the schedule.
Companies have three months from publication of the notice to show cause why they should remain on the Register.
Under the conditions of inclusion on the schedule, the Registrar of Companies is required to send letters by post to the companies inquiring whether they were carrying on business or were in operation.
Getting no response, a registered letter was to be sent the company referring to the first and if still no response was given within a month, that company's name would be on the schedule.
Mr. Malcolm Butterfield, Registrar of Companies, said he could not comment specifically on why the Bermuda Times was included in the schedule, nor, in respect to confidentiality, could he comment on any others on the list.
"One of the successes of this jurisdiction is confidentiality,'' he added.
Companies listed are not automatically destined to be struck from the register -- they have time to show cause to the contrary, he added.
According to Mr. Butterfield these schedules are published every couple of months and "they are a way of cleaning house...companies do go inactive,'' he continued.
The Times has been in financial difficulties for some time. Editor Mr. James Ziral resigned in July while General Manager Mr. Charles Brown was fired in March.
The company said in September that it was seeking a cash injection and planned to sell shares currently in the hands of its directors, possibly before the end of the year.
The Times, started in March 1987, and the only newspaper in Bermuda which is owned primarily by blacks, is published weekly and printed in Waldorf, Maryland.