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The company, based in Stanley, County Durham, will be sentenced at a later date.
BBC: Heathdale Rest Home in Whitley Bay
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The firm, based in Stanley, County Durham, said it was "saddened" by Mrs Young's death.
BBC: Derwent Lift Services fined for care home safety breach
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Mr Thompson, of Denton Burn, Newcastle, and the company based in Stanley, County Durham, are accused of charges under the Health and Safety at Work Act 1974.
BBC: Death fall lift 'was unlocked'