Word: bankrupting
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...loss of $4,082. Most of Zaccaro's business dealings, however, were done through partnerships and corporate entities created for specific transactions. In the real estate business, this is a common way of shielding an owner from having property seized by creditors if another property he owns goes bankrupt. There are various tax advantages in this practice, including the chance to shelter legally income derived from these technically separate businesses. Indeed, it is possible that Zaccaro received substantial income from partnership investments that did not have to be shown on his tax returns...
...saga is far from concluded. His legal expenses are reported to be close to $1 million, he faces suits from creditors seeking $25 million or more, and his once far-flung estates are tied up in legal wrangles. The British government, which put $156 million into financing his now bankrupt automobile factory in Northern Ireland, is demanding an accounting of $17.65 million that investigators say was apparently funneled into private bank accounts. And in Detroit, John De Lorean's home town, he is still the subject of a federal grand jury investigation paralleling the British probe into an apparent...
Last week's announcement read like the obituary of any failed company. Because of falling demand, lagging technology and tough competition, IGV, a business-machine and precision-tool manufacturer, was going bankrupt. The difference was that IGV is based in Budapest, and the liquidation was ordered by Hungary's Minister of Industry. It was perhaps the first admitted bankruptcy ever in the East bloc...
Federal bailouts of near bankrupt companies were all but unheard of prior to 1970. Since then there have been several examples of last-minute largesse from Uncle Sam. Among the most spectacular cases...
American businessmen sometimes think of Japan as the cradle of modern manufacturing innovation and efficiency, but competition in Japan is keen and failure is common. Last week Japan's Riccar went bankrupt the old-fashioned way. They earned it. This was the fourth-largest bankruptcy in Japan since World...