Word: krupp
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Dates: during 1970-1979
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West German bankers have been particularly angry. Morgan Guaranty, one of Chase's U.S. partners in the defaulted $500 million loan, went into a German court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a terrorist bomb exploded outside the bank's Frankfurt office, Morgan obtained a second court lien on the same assets to cover yet a further Iranian debt. The German bankers had thought they would have first call on these assets if Iran failed to pay some of its German loans...
...left Bonn officials sputtering in helpless surprise, Morgan Guaranty Trust, the U.S.'s fifth largest bank and a leading creditor of the Iranian government, quietly went into an Essen court and attached Iran's 25% share of two of West Germany's best-known companies, Friedrich Krupp GmbH, a diversified steel and engineering combine (1978 sales: $5.9 billion), and Deutsche Babcock, a manufacturer of industrial equipment (1978 sales: $1.6 billion). Iranian stakes in the two companies were acquired under the Shah in 1974 and 1975, and they have a market value of approximately $270 million...
...Corporation has approved the appointment of Alessandro Pizzorno, professor of Sociology at the University of Milan in Italy, as Krupp Professor of European Studies, a tenured position vacant for the past four years...
...selection of a scholar to fill the Krupp chair, endowed in the faculty of Arts and Sciences by the family that led the German armaments industry for nearly a century, has been a source of interdepartmental dispute for the past four years, Faculty sources said yesterday...
Since the Krupp endowment grew large enough to find a tenured chair four years ago, several departments including Sociology, History, and Government have competed for the chair...