Cash payouts for victims of London Bridge attack ahead of third anniversary
Survivors and families of those killed in the London Bridge and Borough Market terror attack have secured cash payouts ahead of the third anniversary of the atrocity.
Lawyer Patrick Maguire, of Slater and Gordon – who represents some of the injured and victims’ families, said most of his clients had now settled compensation claims with Hertz’s insurer Probus for undisclosed sums.
On Monday bankrupt car-rental company Hertz filed to sell up to $500 million in new shares. Business Insider reports the stock fell nearly 25% in premarket trading Monday. The move comes just after Hertz shares surged nearly 70% Friday when the company won bankruptcy court approval to sell up to $1 billion in new shares. Hertz warned the new common stock could "ultimately be worthless" due to their bankruptcy proceedings.
Car rental giant Hertz filed for bankruptcy in May due to the coronavirus pandemic. On Friday, a judge ruled Hertz can sell $1 billion in new stock to raise money. The Wall Street Journal reports that traders bought Hertz stock since its bankruptcy. The company's lawyers cited that volatility as a "unique opportunity" to shore up its coffers. After the Chapter 11 filing on May 22, shares of Hertz skyrocketed. The stock flew up Robinhood's list of most popular names.