Word: receivership
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...subpoena was unnecessary, promised to debark in the Canal Zone and return immediately if necessity demanded. Though Federal authorities said they wanted Judge Thomas and his books chiefly for the Manton investigation, they confessed their interest in a case from Judge Thomas' own court: the McKesson & Robbins receivership that exploded the notorious Coster-Musica drug scandal (TIME...
...protested bitterly. But rather than go through lengthy litigation on the matter, he agreed to a permanent injunction terminating all the alleged violations of SEC regulations. This quieted SEC but brought a court petition from nine Fidelity shareholders asking that it be put into receivership for insolvency. While Fidelity voluntarily ceased selling certificates and making payments, the case dragged through several postponements in Federal District Court of Wheeling, W. Va., headquarters of the company...
...business associate get a $250,000 loan with the aid of lawyer Louis S. Levy, onetime partner of the late, lusty Lawyer-Speculator Thomas L. Chadbourne, and hinted at a sinister deal six years ago between Judge Manton and the firm of Chadbourne, Stanchfield & Levy in connection with the receivership proceedings of New York's Interborough Rapid Transit Co. (subway...
...week end the Labor scene was in turmoil. Homer Martin, who seemed on his way to fame & power in 1937, was on the outside looking in at C. I. O. Two leaderships laid claim to U. A. W.'s contracts, bank accounts, membership. John L. Lewis' receivership for the union was itself in temporary bankruptcy. It appeared that only the rank & file could save U. A. W. from permanent disruption. And the shadow of a new figure appeared on the U. A. W. stage...
...told him he thought McKesson & Robbins was being badly managed, asked him to look into it. Mr. Catchings was told by President Coster that the wholesale drug departments, which did the bulk of the company's business, had got their assets frozen. Coster proposed a stockholders' equity receivership to get rid of the wholesalers, but Mr. Catchings talked him out of that. Instead, Coster persuaded the directors to hire Mr. Catchings at $5,000 a month as chairman of an operations committee, with the understanding that he was to have nothing to do with operations...