Word: receivership
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Dates: during 1980-1989
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...potentially more lucrative but indisputably riskier shopping malls, resort developments, energy-generating windmills. The new breed awarded themselves seven-digit salaries, private jets, hunting preserves and yachts on which to entertain members of Congress. Keating and his associates took $21 million from Lincoln even as it was heading into receivership. Named head of the Office of Thrift Supervision in August, Wall now directs the agency established to solve the problems Garn-St. Germain helped create...
...also begin hearings this week to decide whether the sewer division should be turned over to a court-administered receiver. The judge will rescind his order only if the legislature passes a bill creating a water and waste authority to clean up the harbor before the end of the receivership hearings. Receivership is nothing new in Boston: Garrity placed the Boston housing authority into receivership five years ago because of mismanagement...
...Metropolitan District Commission's Burgay called the receivership threat "wholly unwarranted," and said that the MDC should not be placed in receivership because it has fulfilled all obligations to the state...
Though Haar said Garrity would go ahead with his threat to place the MDC sewer division under his receivership, he added that the court will accept any legislation that creates a separate authority...
Garrity could not be reached for comment.The harbor viewed from one of Boston's piers. A state judge who is hearing a pollution lawsuit against the Metropolitan District Commission may decide to place the Hub's sewer authority in receivership this afternoon...