Word: bankrupts
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...Santiago, Chile, firm of Brusadelli & Manni, suing General Motors Acceptance Corp. for having called them bankrupt, last week had genial Lory K. Bethune, Chilean manager for General Motors, jailed for "interrogation." Mr. Bethune, of Atlanta, Ga., was held incommunicado, denied counsel. It required two heated notes from U. S. Ambassador William Smith Culbertson to get him out of jail. Subsequently Mariano Puga Vega, a lawyer for General Motors, challenged the chief attorney for Brusadelli & Manni to a duel...
...aeronautical map of South America has shifted repeatedly under the struggle of U. S., French and German companies for route-dominance. Last week the speculative eyes of air transport men turned again to South America. France's great Compagnie Generate Aeropostale was in difficulty. It was virtually bankrupt. Its pilots were flying without pay. It might have to withdraw...
Last May, National Diversified Corp. went bankrupt. It took a long time for the dupes to realize their status. After realization came intelligent action.. The promoters had used the mails in their fraud. On that score a Federal Grand Jury indicted the wicked seven last week...
Four years ago Ultramares Corp. of London, on the strength of the financial statement of Fred Stern & Co., Inc. of Manhattan, loaned Fred Stern & Co. money. Fred Stern & Co. soon went bankrupt. It was learned that the audit had been faulty. The audit had been made by Touche, Niven & Co. Ultramares Corp. brought a $203,000 suit against Touche, Niven & Co. All accountants have watched the case closely, thinking it would establish a precedent in the question of what responsibility auditors must shoulder...
...finding buyers and sellers, making quick turnovers. He tells, for example, how he found a man who had to sell a car in a hurry for $400, then found a man who wanted to buy one for $700. Another story is that Mr. Benham locates companies about to go bankrupt, arranges to sell their inventories to going concerns...