Office block plan

Jardine Gibbons Properties is applying to build a five-storey office block at the corner of Burnaby and Church Street.

The new building will be used by the Gibbons Group of Companies as well as a tenant that has already been secured, reportedly a local law firm.

The new development will mean taking down the former Imperial Hotel building on the south east corner of the junction.

Pending planning approval the development should start early next year and take around 15 months to complete.

Liquidators appointed

KMPG in Bermuda and the UK have been appointed as provisional liquidators for Northern Offshore Ltd. after a Supreme Court order was handed down.

In a Press statement, the company said that Bermuda partner Mike Morrison (KPMG Financial Advisory Services Limited in Bermuda) and Philip Wallace (KPMG LLP in the UK) had been named as liquidators in the order earlier this week.

Mr. Morrison said: "Our aim, if achievable, is to negotiate a restructuring of the company's debt obligations.

Meanwhile, we intend to work with the creditors and other stakeholders of the company to preserve the assets of the company and the value of the Northern Offshore Group.

"I would stress that these appointments are to Northern Offshore Ltd., which is a holding company, and therefore the day to day operations of Northern Offshore Ltd.'s subsidiaries, which are not parties to the Bermuda proceedings, should not be affected ."