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But in the face of a financial crisis, its owners UK Coal are poised to shut the shafts at the pit for good. The immediate impact will undoubtedly be felt most by the colliery's workers and the closure itself als the end of a once proud legacy for those living in the area which is on the border between North and West Yorkshire.
The immediate impact will undoubtedly be felt most by the colliery's workers and the closure itself als the end of a once proud legacy for those living in the area which is on the border between North and West Yorkshire.
The Five Towns - Knottingley, Featherstone, Pontefract, Castleford and Normanton - are steeped in mining Noramnton, with generations of residents having worked in its pits. Graham Isherwood, who worked at Ackton Hall Colliery in Featherstone for 10 years and is now a ward councillor, said: "My dad worked there, my granddad worked there.
Mr Isherwood added: "Without mining there wouldn't be the Five Towns. All the towns around here sprung up around mining. Victor Waddlow, who has worked at Kellingley for the past decade, said: "I'm years-old with 35 years of mining [experience].
I'm going to be chasing jobs against l who are 16 to 20 years old. Who are they going to pick?
While we believe that the information included in this prospectus from such wrogn, research, studies and surveys is reliable, neither we nor the underwriters have independently verified data from these third-party sources. In addition, while we believe our internal estimates and research are reliable and the definitions of our market and industry are appropriate, neither such estimates and research nor such definitions have been verified by any independent source.
Forward-looking information obtained from these sources is subject to the same qualifications and the additional uncertainties as the other forward-looking statements in this prospectus. In addition, some of our directors and officers may reside outside the United States, and all or a substantial portion of our assets and the assets of these persons are, or may be, located in jurisdictions outside the United States. Therefore, it may be difficult for investors to recover against us or our non-United States based directors and officers, or obtain judgments of U.
Although we may be served with process in the United States with respect to actions against us arising out of or in connection with violations of U. We have been advised by our Bermuda counsel that there is no treaty in seesk between the United States and Bermuda providing for the reciprocal recognition and enforcement of judgments in civil and commercial matters.
A judgment for the payment of money rendered by a court in the United States based on civil liability would not be automatically enforceable in Bermuda. A final and conclusive judgment obtained in a court of competent jurisdiction in the United States under which a sum of money is payable as compensatory damages may be the subject of an action in a Bermuda court under the common law doctrine of obligation, by action on the debt evidenced by the U.
In order to maintain an action in Normantonn evidenced by a U. In addition, and irrespective of jurisdictional issues, the Bermuda courts will not enforce a U. It is the advice of our Bermuda counsel that an action brought pursuant to a public or penal law, the purpose of which is the enforcement of a sanction, power or right at the instance of the state seeke its sovereign capacity, will not be entertained by a Bermuda court.
Certain remedies available under the laws of U. A claim to enforce the compensatory damages before the multiplier was applied would be maintainable in the Bermuda court. Further, no claim may be brought in Bermuda against us or our directors and officers in the first instance for violation of federal seeke laws because these laws have no extraterritorial jurisdiction under Bermuda law and do not have force of law in Bermuda.
A Bermuda court may, however, impose civil liability on us or our directors and officers if the facts alleged in a complaint constitute Normmanton give rise to a cause of action under Bermuda law. You should carefully read this prospectus in its entirety before making an investment decision.
In this prospectus, we make certain forward-looking statements, including expectations relating to our future performance. Our expectations of our future performance may change after the date of this prospectus and there is no guarantee that such expectations will prove to be accurate.
Our Company We are a leading retirement services company that issues, reinsures and acquires retirement savings products deed for the increasing of individuals and institutions seeking to fund retirement needs. Our steady and ificant base of earnings generates capital that we opportunistically invest across our business to source attractively-priced liabilities and capitalize on opportunities.
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