Word: clarendon
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Dates: during 1980-1989
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...course, there is pathos in Stubbs' hunting scenes. His portrait of the Earl of Clarendon's gamekeeper about to cut a doe's throat in a darkening wood is a gravely haunting mixture of the archaic and the matter-of-fact. Venison, to be eaten, must be killed, but the thickening shadows seem to enfold a more sacrificial rite than the mere stocking of a larder. This, like all Stubbs' paintings, must also be seen as a manifesto of the supreme ideology of late 18th century England: the celebration and defense of property. If the wrong...
...Clarendon Ltd., the American subsidiary of Swiss-based Marc Rich & Co. AG, pleaded guilty to generating at least $50 million in illegal oil profits during 1980 and 1981 and then dodging taxes on the money by transferring the earnings overseas. Last week's settlement will allow the two companies to resume operating in the U.S. But criminal charges of tax evasion, fraud and racketeering still stand against Rich and his partner, Pincus ("Pinky") Green. The two, both 50, fled from New York City to their headquarters in Zug, Switzerland, in September 1983, only a few weeks before federal investigators...
...customs officers intercepted them at New York's Kennedy Airport after apparently being alerted by a mole in Rich's organization. At one point, in order to avoid court fines, Rich and Green hastily changed the name of their U.S. subsidiary from Marc Rich International to Clarendon and arranged a secret sale of the company to a shareholder in their Swiss firm...
...contempt fine. Before payments were suspended two weeks ago, Rich's company had paid $3.8 million in fines. In an apparent ploy to escape further fines, Rich and Green in early August secretly sold their U.S. subsidiary to other officers in the firm and changed its name to Clarendon...
...company's troubles have become public, some customers say they are shying away. The firm has changed its name in the U.S. to Clarendon Ltd. and has taken down the Marc Rich signs around its Fifth Avenue offices. Rich himself has moved out of his Park Avenue apartment, and is believed to be working out of the Zug offices. Two weeks ago, Clarendon sent out notices telling its customers it would conduct business as usual during the freeze, but since then Judge Sand has prohibited those reassurances on pain of further contempt citations...