Einstein goes 'into administration'

by ChessBase
7/5/2003 – UK-Wire is reporting that on July 1, 2003 "Einstein Group plc filed a petition in the High Court seeking the appointment of administrators" (which usually means insolvency). This puts the classical chess world championship match between Vladimir Kramnik and Peter Leko in jeopardy, since Einstein owns the rights to the title. More...

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UK-Wire reports the following:

On the 1 July 2003 Einstein Group plc filed a petition in the High Court seeking the appointment of administrators. The hearing has been set for 16 July 2003. The application only relates to the affairs of Einstein Group plc (the holding company). Other companies within the group continue to trade. The Company will make a further announcement as soon as appropriate. – 3 July 2003

This information is provided by RNS, the company news service from the London Stock Exchange.

The subject of Einstein's petition for administration is also picked up by the Financial Times and The Independent, which reports on a mysterious financial transaction of the chess patron Mme. Nahed Ojjeh. The stories are here:

Here is background information and links on both the Einstein failure and Mme. Ojjeh's chess involvement.

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