Supported by our world-class regulatory and legal framework, Zenith
Bank will be able to leverage Dubai's unrivalled connectivity to access trade and investment networks in the wider Middle East, Africa and South Asia region.
On current information it is possible that all creditors will be paid in full, however contingent claims from other Zenith
companies have yet to be fully ascertained.
Today, the once-mighty Zenith
exists mainly as a brand name of high-end TVs.
has filed for approval of a comparable product that it believes does not infringe.
An industry insider said: "They certainly work closely together and it will certainly have an effect on Zenith
Tatung is selling fewer than 20,000 Tvs a year; Proton, only a couple of thousand; and AOC and Sampo have withdrawn from the market entirely--which does not absolve them from their responsibility to pay fines based on their alleged past attempts to run Zenith
out of business.
We're showing the world today an entire new Zenith
," said Bill Sims, presi- dent of Zenith
Peter Willmott, president and chief executive officer, said in a prepared statement that Zenith
plans to eliminate about 375 salaried positions, reducing its U.
Peter Willmott has been named president and chief executive officer of Zenith
spokesman said, "Willmott will run the day-to-day operations of the company and lead the search for Moschner's successor.