Word: placid
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...cramped and crowded Dallas courtroom last week, Federal District Judge Harold Barefoot Sanders Jr. listened patiently as volleys of charges and countercharges flew between lawyers for the Placid Oil Co. and its creditor banks. On the surface, the squabble over corporate bankruptcy seemed mundane. In fact, the rancorous debate was anything but routine. For Placid is not just any oil company. It is the crown jewel of the financial empire built by the legendary Texan H.L. Hunt and ruled today by his beleaguered sons and heirs. Behind the legal posturing was nothing less than a desperate struggle to save...
...what could be a serious blow to the Hunt clan, the craggy-faced Barefoot Sanders ruled that Placid must shift its petition for bankruptcy relief from a New Orleans court to Dallas. The banks wanted the case to be heard in Dallas, in Sanders' jurisdiction, but the Hunts hoped to avoid the judge. Sanders, a liberal Democrat who ran unsuccessfully for the U.S. Senate, has never been friendly with the conservative Republican Hunts. The Hunts may fear that having Sanders on the case could hurt their chances of holding on to what is left of their dwindling assets, which have...
...When Placid Oil filed for Chapter 11 protection two weeks ago, the company listed debts of $979.3 million against assets of $2.05 billion. The move was a last-resort effort to prevent the company's 23 lenders, including Houston's Texas Commerce Bank and RepublicBank of Dallas, from foreclosing on such Hunt assets as oil and gas leases and real estate. Thus the banks and the Hunts are now battling for control of the family's remaining wealth...
...charging around the United States to collect our debts." Some observers speculate that the Hunts may have wanted their case to be heard in a New Orleans court because they believed they would find a more sympathetic judge there. The Hunts, however, . deny that charge. Their lawyers maintain that Placid filed for bankruptcy in Louisiana because most of the company's assets were located there...
...anything interesting has ever happened at Harvard, it seems to have been systematically excised from this bland account. Historians generally tend to focus on the significance of periods of upheaval, but these essays emphasize the placid progress of an educational institution with a shifting population of faceless students and teachers. Student riots are glossed over or ignored. Wartime turbulence is omitted. Conspicuously absent is any mention of the most recent Harvard crisis of student demonstrations in the '60's. Clearly, such a short book cannot include every significant event in the University's past, but the lack of any disscussion...