Word: froze
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Nowhere was the anguish and turmoil over B.C.C.I.'s collapse greater than in Britain, where the Bank of England froze more than $400 million of deposits in 120,000 accounts held largely by Indian and Pakistani families and small businesses. The outraged depositors included some 60 municipalities that had placed as much as $160 million of public funds in B.C.C.I. accounts. Customers may have to wait months to receive what is insured under British law: 75% of their money, up to a maximum of (pounds)15,000, or $24,000 at current exchange rates. Shaken B.C.C.I. depositors jammed hastily arranged...
Washington had previously seized some of Saddam's holdings as part of $1 billion of Iraqi assets that the U.S. froze after Iraq invaded Kuwait. The properties were connected with Anees Masoor Wadi, an Iraqi middleman who resided in a $3.5 million Beverly Hills home -- where his neighbors included actor Gene Hackman and director John Landis -- and who was allegedly part of Saddam's global network for procuring arms and military technology. Wadi reportedly helped acquire a suburban Cleveland machine-tool firm called Matrix-Churchill, which made versatile computer-operated jig grinders that could be used to produce precision parts...
...threatens the very existence of the Soviet Union, Gorbachev also must avoid antagonizing the tens of millions of Muslims in the U.S.S.R.'s Central Asian and Transcaucasian republics, and they tend to sympathize with Saddam. Still more to the point, in strict power terms, a Middle East outcome that froze Soviet influence out of the region and left a triumphant U.S. as the dominant power in that strategic crossroads so close to the U.S.S.R.'s southern borders would make any Kremlin regime nervous...
Egyptian resentment of Saddam runs deep. During Iraq's eight-year war with Iran, 1.5 million Egyptians worked in Iraq, sending back to their country an estimated $1 billion a year. Peace came in 1988, and a triumphant but broke Iraq froze the wages of foreign workers and forbade funds to be sent out of the country. Thousands of Egyptians suddenly began facing job competition from demobilized soldiers. Many were ill-treated by Iraqis, some getting impressed into the Iraqi army, others enduring beatings, robbings and even murder. For ) several months last year the Egyptian press reported almost daily...
...some of his shares to Carolco for $13 each, or 60% higher than the market price. That brought him $11 million, or 80% of the studio's 1989 net income, which prompted angry shareholders to file a class action. In December state-court judge John Zebrowski in Los Angeles froze 2.2 million of Kassar's shares and said the court may force the mogul to disgorge his profits. Kassar claims that he was entitled to the money...