Word: headington
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Dates: during 1990-1999
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...result, the senior Maxwell was able to pile debt upon debt with no one, apparently, the wiser. His purchase of a British investment fund, First Tokyo Index Trust, illustrates how Maxwell used financial sleight of hand and guile to finance deals. Through Headington Investments, a finance company under his control, Maxwell borrowed $100 million from Swiss Bank Corp. last summer to buy the entire First Tokyo portfolio. Maxwell was supposed to turn over the portfolio to Swiss Bank in October as collateral for the loan. But Maxwell did not repay the loan, nor did he deliver the securities as promised...
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