Word: lender
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Epstein is obligated to pay the money to Mitsui Manufacturers Bank because he, in connection with two California investment groups, defaulted on a $1.5 million loan, according to documents and a Manufactures Bank lender who spoke on condition of anonymity. The $2.7 million figure arrived at by a California court includes interest and legal fees...
Located opposite the salad bar in the dining hall, the kosher table offers edibles including Lender's bagels, knishes, cold cuts cheeses, potato salad, yogurt and single-serving packets of condiments...
...Last week a Delaware judge confirmed Parretti's removal from the board of MGM-Pathe studios. A onetime waiter who bought the studio in 1990 for $1.3 billion, Parretti accumulated huge debts during his half-year tenure as CEO, forcing the company into involuntary bankruptcy. The studio's chief lender, the French bank Credit Lyonnais, pumped in $145 million to restore solvency but demanded his ouster. The Delaware judge agreed, condemning Parretti's mismanagement of the firm. The downward slide continued on Dec. 27, when Parretti was arrested and jailed in Sicily on tax-evasion charges...
...systems, mainly from blue-chip makers like IBM and Apple. But as Businessland's fortunes rose, so did those of mail-order boutiques and aggressive superstores offering deep discounts. Meanwhile, Businessland stumbled by launching price wars while ignoring rising inventory and changes in customer needs. The company's key lender, ITT Commercial Credit, has announced that it will jump ship by the end of June. Now Businessland must persuade remaining lenders to extend its loan payments. Observes computer industry analyst Douglas Kass: "The coffin is lying out there waiting for the last nail...
What does a lender do with a foreclosed hotel? With luck he sells it fast and gets his money back; banks and S&Ls have no desire to run these properties. But buyers are hard to find nowadays. "The market to purchase hotels is dead," says Morris Lasky, chief executive of Lodging Unlimited, a firm based in West Chester, Pa., that specializes in turning around problem hotels. "Banks are not going to lend to new buyers, and there isn't anybody with cash to buy these things." Among the many anxious sellers is the government's Resolution Trust Corporation, which...