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Bristow files for Chapter 11 Bankruptcy

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Bristow files for Chapter 11 Bankruptcy

Old 4th Jun 2019, 17:28
  #41 (permalink)  
 
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BP - Bristows new contract

https://www.marketwatch.com/press-re...plc-2019-05-31
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Old 1st Aug 2019, 16:04
  #42 (permalink)  
 
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Bristow files for Chapter 11 Bankruptcy

Have been trying to get my pension from Bristow's Staff Pension Scheme for two years. I left the company in 1977. They are now saying that they have no record of me ever working for them Is anyone else having the same problem??
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Old 1st Aug 2019, 17:03
  #43 (permalink)  
 
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I had similar concerns when I left Bristow....and cashed out my pension account....turns out to have been a wise move it seems.
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Old 1st Aug 2019, 18:19
  #44 (permalink)  
 
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Originally Posted by Autonomous Collectiv View Post
Bristow finally achieved Target Zero, ... ... .

There's got to be a way we can get a LIKE button on here surely!
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Old 1st Aug 2019, 20:00
  #45 (permalink)  
 
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I left the company in 1977
You left your pension sitting with Bristow for 40 years???
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Old 1st Aug 2019, 23:39
  #46 (permalink)  
 
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I worked for Bristow from 80-97. Like SAS, I converted my pension to an actuary agreed lump sum and merged it with my Superannuation fund 15 years ago. The UK Tax authorities make it slightly complex.
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Old 2nd Aug 2019, 03:13
  #47 (permalink)  
 
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DavidCg - I left Bristow in 1979, when Iran went pear-shaped, and a little time later I received a letter (sorry, can't remember from who) telling me that my Bristow Pension account had been transferred to Prudential. The Prudential corresponding office was, and still is, at Lancing in Sussex. I receive my pension tax-free as I'm not resident in the UK. It might be worth dropping Prudential a line:
Prudential
Lancing
BN15 8GB
UK
Ms. Tracy Harris
Customer Service Director

By the way, about 15 years ago I received a (surprise) letter from the National Insurance Board of Trinidad and Tobago telling me that I had an outstanding balance in my pension fund and how would I like to receive it, in installments or a lump sum? This time I took the lump sum, I did two years in Trinidad with Bristow and this was the first indication I had about a pension there. Thank you Trinidad!
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Old 2nd Aug 2019, 07:47
  #48 (permalink)  
 
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Originally Posted by Saint Jack View Post
DavidCg - I left Bristow in 1979, when Iran went pear-shaped, and a little time later I received a letter (sorry, can't remember from who) telling me that my Bristow Pension account had been transferred to Prudential. The Prudential corresponding office was, and still is, at Lancing in Sussex. I receive my pension tax-free as I'm not resident in the UK. It might be worth dropping Prudential a line:
Prudential
Lancing
BN15 8GB
UK
Ms. Tracy Harris
Customer Service Director

By the way, about 15 years ago I received a (surprise) letter from the National Insurance Board of Trinidad and Tobago telling me that I had an outstanding balance in my pension fund and how would I like to receive it, in installments or a lump sum? This time I took the lump sum, I did two years in Trinidad with Bristow and this was the first indication I had about a pension there. Thank you Trinidad!
Thank you for that information Saint Jack. I left Iran in 1975 and went to Trinidad where I worked until I left the company in 1977. I received a single letter which (from memory) was sent either from the North of England or Edinborough, advising me of the balance in my pension account and my perhaps faulty memory remembers it being from an insurance company. I thought it was Pearl but maybe it was Prudential so thank you and I will certainly contact them.
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Old 2nd Aug 2019, 07:55
  #49 (permalink)  
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Bristow files for Chapter 11 Bankruptcy
Have been trying to get my pension from Bristow's Staff Pension Scheme for two years. I left the company in 1977. They are now saying that they have no record of me ever working for them Is anyone else having the same problem??
The ATO should have evidence of your pension payments, surely?
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Old 2nd Aug 2019, 08:24
  #50 (permalink)  
 
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Originally Posted by DavidCg View Post
Have been trying to get my pension from Bristow's Staff Pension Scheme for two years. I left the company in 1977. They are now saying that they have no record of me ever working for them Is anyone else having the same problem??

Bristow sold off their (our) pensions to various insurance companies.
In my case, I initially called Legal and General who after a search said they had no record.
About 12 months later I received a letter, via HMRC? from the Prudential Insurance co who were actually looking for me!
I would give those two companies a call.
Don't get too excited about a Bristow pension, mine was for 12 years service, and it doesn't quite cover my annual council tax bill.
Good luck, it's out there somewhere.
Tony
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Old 2nd Aug 2019, 08:52
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Originally Posted by Tony Mabelis View Post
Bristow sold off their (our) pensions to various insurance companies.
In my case, I initially called Legal and General who after a search said they had no record.
About 12 months later I received a letter, via HMRC? from the Prudential Insurance co who were actually looking for me!
I would give those two companies a call.
Don't get too excited about a Bristow pension, mine was for 12 years service, and it doesn't quite cover my annual council tax bill.
Good luck, it's out there somewhere.
Tony
Thanks Tony. It still strikes me that Bristow's are delinquent in their mandatory reporting requirements for pensions. I shall also try Legal and General and the HMRC although I was registered as non resident for tax purposes during my tie with the Company
David
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Old 2nd Aug 2019, 11:19
  #52 (permalink)  
 
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I thought Aeon dealt with the pensions?
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Old 2nd Aug 2019, 11:35
  #53 (permalink)  
 
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Yes, in the UK it's Aon, or to be more precise Aon Hewitt. They have been faultless in paying my Bristow Pension for the last 20 years.

Another avenue for folk to try... Contact Mike Ironside - he is The Secretary to the Trustee, Bristow Staff Pension Scheme, 11 Strand, London, WC2N 5HR. His email is [email protected] . I contacted him a couple of times with queries and he was very helpful. PSITL is, I think, Punter Southall Independent Trustee Services Ltd.

Aon have a Dedicated Scheme telephone number: 0345 266 9369 or write to: Trustees of the Bristow Staff Pension Scheme, Aon, PO Box 196, Huddersfield, HD 8 1EG.

Re Prudential, a little grey cell has just woken up to suggest to me that they held Bristow AVC contributions?

Good Luck!
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Old 2nd Aug 2019, 12:31
  #54 (permalink)  
 
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Originally Posted by Democritus View Post
Yes, in the UK it's Aon, or to be more precise Aon Hewitt. They have been faultless in paying my Bristow Pension for the last 20 years.

Another avenue for folk to try... Contact Mike Ironside - he is The Secretary to the Trustee, Bristow Staff Pension Scheme, 11 Strand, London, WC2N 5HR. His email is [email protected] . I contacted him a couple of times with queries and he was very helpful. PSITL is, I think, Punter Southall Independent Trustee Services Ltd.

Aon have a Dedicated Scheme telephone number: 0345 266 9369 or write to: Trustees of the Bristow Staff Pension Scheme, Aon, PO Box 196, Huddersfield, HD 8 1EG.

Re Prudential, a little grey cell has just woken up to suggest to me that they held Bristow AVC contributions?

Good Luck!
Thanks 212an and Democritus. I did call AON (The dedicated staff pension scheme) but because it was so long ago the records have been archived and the normal support people can't access them. So I had to write to the AON Scanning Group to request that they search the archives. After about three months, I had a reply from Prague to say that they can find no records. Seems that is now where that part of AON is located! I shall try Mike Ironside. Thanks for the information. I still think that they are in breach of pensions regulations which mandates that records are kept until the pensioner reaches 75 years of age.
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Old 2nd Aug 2019, 14:12
  #55 (permalink)  
 
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Originally Posted by Democritus View Post
Yes, in the UK it's Aon, or to be more precise Aon Hewitt. They have been faultless in paying my Bristow Pension for the last 20 years.

Another avenue for folk to try... Contact Mike Ironside - he is The Secretary to the Trustee, Bristow Staff Pension Scheme, 11 Strand, London, WC2N 5HR. His email is [email protected] . I contacted him a couple of times with queries and he was very helpful. PSITL is, I think, Punter Southall Independent Trustee Services Ltd.

Aon have a Dedicated Scheme telephone number: 0345 266 9369 or write to: Trustees of the Bristow Staff Pension Scheme, Aon, PO Box 196, Huddersfield, HD 8 1EG.

Re Prudential, a little grey cell has just woken up to suggest to me that they held Bristow AVC contributions?

Good Luck!
Hi Deocritus. Just an update. Mike Ironside left in February The person who has taken over the role is Stuart Southall. email [email protected]
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Old 15th Aug 2019, 07:38
  #56 (permalink)  
 
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PK AirFinance moves to seize 24 helicopters from Bristow

Beleaguered Bristow Group is facing a challenge to its restructuring plans after loan provider PK AirFinance moved to repossess two dozen helicopters operated by various subsidiaries of the offshore transport specialist.

According to US bankruptcy court documents by GECAS-owned PK AirFinance on 9 August initiated the "enforcement action" related to the rotorcraft.

In all, 24 helicopters are security against loans totalling $230 million between Luxembourg firm PK AirFinance and Bristow Equipment Leasing (BELL), a Cayman Islands-based subsidiary of Bristow Group.

US-headquartered Bristow Group, and subsidiaries including BELL, entered Chapter 11 bankruptcy protection in May to deal with a crippling debt load.

PK AirFinance argues that BELL has missed loan payments and "has not cured all defaults, nor has it agreed to perform all future obligations" under the terms of the financing agreements.

Instead, as part of Bristow Group's financial restructuring under Chapter 11, BELL is proposing to cancel the debt secured by the helicopters and issue a new agreement relating to the aircraft.

Issuing the "demand for possession of aircraft" gives Bristow Group 10 days notice of the action.

The 24 helicopters comprise five Leonardo AW139s, five Sikorsky S-76Ds and 14 S-92s, operated by Bristow Group companies in Australia, Nigeria, Norway and the UK.

Last edited by Senior Pilot; 15th Aug 2019 at 07:44. Reason: Add quote: this helps Rotorheads know what you're posting about!
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Old 15th Aug 2019, 11:23
  #57 (permalink)  
 
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This could be good news or bad news for Bristow. If the aircraft are sitting idle is good news to off load them but if they are on contracts could be bad news if they donīt have aircraft available to take there place.
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Old 15th Aug 2019, 11:57
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Originally Posted by twisted wrench View Post
This could be good news or bad news for Bristow. If the aircraft are sitting idle is good news to off load them but if they are on contracts could be bad news if they donīt have aircraft available to take there place.
I don't know about the other locations, but the 92s and 76s certainly aren't idle in Nigeria!
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Old 15th Aug 2019, 12:00
  #59 (permalink)  
 
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I don't know how these things work, but on the face of it, 5 x AW139 + 5 x S76D + 14 x S92 would have to be worth more than $230M. So my way of thinking it would be an OK deal for the finance company for them to repossess them all.
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Old 15th Aug 2019, 13:37
  #60 (permalink)  
 
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If they reposes them So much for big Dons claim that being Bankrupt in the US wont effect other independent parts of the Group..
Imagine if the 92s were the UKsar assets?
All of a sudden no cash...
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