Tag: payouts
Thames Water hit with biggest ever penalty over sewage and shareholder payouts
Thames Water has been fined £122.7m for breaching rules over sewage spills and shareholder payouts. The penalty is the biggest ever issued by the water industry regulator Ofwat, which said the company had “let down its customers and failed to protect the environment”. The watchdog confirmed the fines would be paid by the company and…
Post Office scandal: MPs call for financial penalty for slow payouts
A group of MPs says compensation is not being paid quickly enough for the victims of the Post Office scandal and is calling for the government to face financial penalties if the process doesn’t speed up. The Business and Trade Select Committee said binding timeframes were needed, with any money arising from missed deadlines going…
Madoff fraud victims get $4.3bn as fund completes payouts
A fund created by the US government to help compensate victims of the late fraudster Bernard Madoff has begun making its final round of payments, according to a statement by the Department of Justice (DoJ). The payouts being made by the Madoff Victim Fund (MVF) are worth $131.4m (£104.6m) and will bring the total amount…