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April 2014 Archives

Beneficial breach may still bring legal action

Virginia business owners may want to pay heed to a recent decision resulting from a lawsuit brought by Fletcher International, Ltd. against Ion Geophysical Corporation. In 2009, Ion entered into an agreement to raise financing that it needed to stay liquid and avoid bankruptcy. Contractually, it was required to obtain approval from Fletcher before entering into one part of the financing arrangement but it failed to do so.

Virginia security company looks to expand after merger

The owner of a Virginia security business says that he plans to continue to run his organization as before after it merges with a large New York based security concern. He started the company in 2010 after serving for eight years in the U.S. Marine Corps. The merger came about after a party familiar with both companies recommended the Spotsylvania County firm after being pleased with the results it delivered.

Cement industry shows signs of resurgence

Virginia residents involved in the field of construction may be interested to read that the cement industry may be a barometer for the recovering construction industry, according to experts. The gross amount of business transactions in this industry topped $22 billion in the past 12 months, the highest level since May 2008, and there is talk of a merger between two of the world's biggest cement makers.

Recently merged Virginia banks complete operational changes

Final changes have been made at two recently merged Virginia banks, allowing them to begin operating as one. In late March, C&F Financial Corp., the holding company for C&F Bank, announced that Central Virginia Bank will now begin operating as C&F Bank. Central Virginia Bank was acquired in October 2013, but the banks operated separately until March, according to company officials. The completion of the merger adds seven branches to the C&F operations for a total of 25.

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