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The two companies have invested $20m in the cash shell.
Bumi entered by a back door: an Indonesian miner merged with an LSE-listed "cash shell".
REUTERS New Horizons for Osmond | Hugh Osmond's cash shell, Horizon, has completed its purpose.
They listed Melrose that year on Aim as a £13m cash shell.
Hayward had begun his rehabilitation at cash shell Vallares, now spun into the Kurdish oil company Genel, which he runs.
A few months later, following Belgo's £9.8m reverse takeover by cash shell Lonsdale Holdings, he breached City regulations again.
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Quite a lot are cash shells (means of raising money for acquisitions) trying to beat stricter governance rules introduced by AIM on April 1st.
He and Berggruen previously used Spacs (special purpose acquisition companies, also known as "blank cheque companies" or cash shells) to invest in the UK hedge fund group GLG and the insurer Pearl Group.
So Shapiro and colleagues picked out a single type of spending that's easily influenced by the perception of disposable income: cash shelled out for fast food and coffee.
And the department began a test program this spring requiring people who buy expensive properties in New York and Miami using cash and shell companies to report their actual identities.
Increasingly, transactions for high-end properties are done in cash, using shell companies and limited-liability corporations — a web of legal obfuscation that can make the individual who paid for a property virtually impossible to identify.
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