Bristow files for Chapter 11 Bankruptcy
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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??
I had similar concerns when I left Bristow....and cashed out my pension account....turns out to have been a wise move it seems.
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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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!
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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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!
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!
Nemo Me Impune Lacessit
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Bristow files for Chapter 11 Bankruptcy
The ATO should have evidence of your pension payments, surely?
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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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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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
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
David
I thought Aeon dealt with the pensions?
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!
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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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!
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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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!
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!
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.
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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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!
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.
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...
Imagine if the 92s were the UKsar assets?
All of a sudden no cash...
List of aircraft and location at the time of the signing from the legal documents
(i) in respect of Aircraft 1, Aircraft 3, Aircraft 4 and Aircraft 5, Australia;
(ii) in respect of Aircraft 7, Aircraft 8, Aircraft 9, Aircraft 11 and Aircraft 13, the United Kingdom;
(iii) in respect of Aircraft 2, Aircraft 6, Aircraft 10, Aircraft 12, Aircraft 16, Aircraft 17 and Aircraft 18, Norway;
and (iv) in respect of Aircraft 14, Aircraft 15, Aircraft 19, Aircraft 20, Aircraft 21, Aircraft 22, Aircraft 23 and Aircraft 24, Nigeria
“Aircraft 1” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41339
“Aircraft 2” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920124
“Aircraft 3” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31583
“Aircraft 4” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41370
“Aircraft 5” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920221,
“Aircraft 6” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920159,
“Aircraft 7” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920068
“Aircraft 8” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920065,
“Aircraft 9” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920066,
“Aircraft 10” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920228,
“Aircraft 11” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31310,
“Aircraft 12” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920070,
“Aircraft 13” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41378,
“Aircraft 14” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920103,
“Aircraft 15” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920082,
“Aircraft 16” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920025,
“Aircraft 17” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920011,
“Aircraft 18” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920012,
“Aircraft 19” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920075,
“Aircraft 20” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761070
,21 means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761071,
Aircraft 22” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761044,
“Aircraft 23” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761045
“Aircraft 24” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761046,.
full bs here http://ir.bristowgroup.com/static-fi...b-44c27eac776d
(i) in respect of Aircraft 1, Aircraft 3, Aircraft 4 and Aircraft 5, Australia;
(ii) in respect of Aircraft 7, Aircraft 8, Aircraft 9, Aircraft 11 and Aircraft 13, the United Kingdom;
(iii) in respect of Aircraft 2, Aircraft 6, Aircraft 10, Aircraft 12, Aircraft 16, Aircraft 17 and Aircraft 18, Norway;
and (iv) in respect of Aircraft 14, Aircraft 15, Aircraft 19, Aircraft 20, Aircraft 21, Aircraft 22, Aircraft 23 and Aircraft 24, Nigeria
“Aircraft 1” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41339
“Aircraft 2” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920124
“Aircraft 3” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31583
“Aircraft 4” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41370
“Aircraft 5” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920221,
“Aircraft 6” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920159,
“Aircraft 7” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920068
“Aircraft 8” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920065,
“Aircraft 9” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920066,
“Aircraft 10” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920228,
“Aircraft 11” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 31310,
“Aircraft 12” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920070,
“Aircraft 13” means (i) the AgustaWestland model AW139 aircraft with manufacturer’s serial number 41378,
“Aircraft 14” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920103,
“Aircraft 15” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920082,
“Aircraft 16” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920025,
“Aircraft 17” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920011,
“Aircraft 18” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920012,
“Aircraft 19” means (i) the Sikorsky model S-92A aircraft with manufacturer’s serial number 920075,
“Aircraft 20” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761070
,21 means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761071,
Aircraft 22” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761044,
“Aircraft 23” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761045
“Aircraft 24” means (i) the Sikorsky model S-76D aircraft with manufacturer’s serial number 761046,.
full bs here http://ir.bristowgroup.com/static-fi...b-44c27eac776d
