Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Former Heinz CEO Declares Bankruptcy Court Clears Way for Insolvency Deal

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Former Heinz CEO Declares Bankruptcy Court Clears Way for Insolvency Deal

Article excerpt

Former H.J. Heinz Co. chief executive officer Anthony J.F. O'Reilly has been declared bankrupt by a court in the Bahamas, which clears the way to file for an insolvency arrangement, according to the Irish Times newspaper.

Although creditor Allied Irish Bank objected in a legal hearing Friday, saying the court didn't have jurisdiction, the ruling allows Mr. O'Reilly to seek out a formal deal with creditors, the paper said.

Mr. O'Reilly, who left the Heinz CEO role in 1998 but remained as chairman until 2000, was first reported to be considering bankruptcy in 2014. He owed millions to several banks, taking major hits to his finances through investments in news and crystal-making operations.

According to the Irish Times, Mr. …

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