Word: auction
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...stick, he could face punishment ranging from a reprimand to disbarment. As if that were not trouble enough, London-based Sotheby's has sued Mitchelson for failing to pay for an estimated $1 million worth of jewelry, formerly belonging to the Duchess of Windsor, that he bought at an auction in 1987. California courts, meanwhile, have ordered him to pay $40,000 for bringing frivolous appeals...
...Bakker, claiming that he also procured other young men for the boss. In ongoing bankruptcy proceedings for PTL itself, an exasperated Judge Rufus Reynolds has thrown out a $115 million bid from a Toronto firm for the theme park, cable network and other holdings, deciding instead to have an auction this week. If the price is not right, or payment terms are not favorable enough, the judge could sell off the properties separately...
...winner, directors summoned Kravis to a conference room at about 9 p.m. to complete the deal. The real brawl, however, was just beginning. "This game is not played by Marquis of Queensberry rules," said a Johnson adviser. "There really are no rules for this kind of auction...
...Rose and Blue Periods, and now his works have taken on a greenish hue. At least that is how investors see them. Betting that fine art will appreciate more quickly than stocks and other investments that have been sluggish since the Black Monday crash, high rollers have sent auction prices for masterworks skyrocketing to unheard of levels. Earlier this month a 1923 Picasso painting titled Birdcage was auctioned for a record $15.4 million, only to be topped four days later by the sale of the 1901 Motherhood for $24.8 million. Then last week a 1905 gouache titled Acrobat and Young...
...committee of the company's directors responded to Johnson's proposal on Nov. 7 by opening the bidding for RJR to all comers, setting last Friday as the deadline. Two days before the auction closed, one potential bidder, the Manhattan investment firm Forstmann Little, scrapped its planned offer. Forstmann's departure left two contenders: the RJR management group, which had upped its offer to $21 billion ($92 a share), and the investment firm Kohlberg Kravis Roberts, with its bid of $20.6 billion ($90). RJR's board could take as long as several weeks to study all new offers, including revised...