Word: barcelona
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Dates: during 1940-1949
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...ready to strike his first blow. March called on Heineman in Madrid and warned that he had better let him take over Barcelona Traction, in return for a minority interest, or suffer the consequences. Heineman refused...
Last week, Juan March went again to Reus and struck the final blow. By authority of last year's bankruptcy decision, he led a meeting of Barcelona Traction creditors (i.e., himself, the principal bondholder) and appointed the requisite "syndicos" (his agents) to dispose of Barcelona's assets. Nobody doubted who would get them...
Unable to strike at CHADE, March turned his attention again to Barcelona Traction. In February 1948, an obliging judge in the small Catalonian town of Reus declared that, since Barcelona Traction had not paid the interest on its bonds, it was bankrupt. Franco's authorities moved in, evicted Barcelona Traction's officers from their Barcelona headquarters, and ushered in Juan March...
Three years later, March sent an emissary to Heineman in Manhattan with a new ultimatum: if he would not yield Barcelona, he could expect blows at CHADE, another SOFINA subsidiary in Spain. CHADE, though it owned no interests in Spain, used a Madrid office to collect the profits from the huge power interests it owned in Argentina (CADE). Heineman hastily moved CHADE to Luxembourg, where it transformed itself into SODEC (an identity it had used in a previous move to save its financial skin during Spain's civil...
Fate grinds him small. The mighty Knight of the Lions (as he now calls himself) is laid up for a week by the claws of a pussy cat. He is paraded through Barcelona with a placard on his back...