Word: mitsui
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...March, 1992, Visiting Professor of Business Administration Marc J. Epstein and two codefendants were ordered by a Los Angeles Superior Court judge to pay $2,694,463.25 to Mitsui Manufacturers Bank...
According to an official with Mitsui Manufacturers Bank, the Middlesex County court later ordered that Epstein's Harvard salary be docked. Harvard must pay the bank $13,000 annually in equal monthly installments, to be deducted from Epstein's paycheck, said the official, who spoke on condition of anonymity...
Epstein declined to comment on the nature of the case, other than to say that he did not take out a loan from Mitsui Manufacturers Bank...
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...
...Mitsui Manufacturers Bank filed the initial lawsuit in California in 1988, and Los Angeles Superior Court Judge Madelein Flier ruled for the bank on March 3, 1992. But Epstein, whose legal residence is in Houston, left California shortly after the lawsuit was filed to become a full professor at the business school of the Yeshiva University in New York City...