Word: receiverships
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...dead or fatally injured. Last week, ten years to the day after the fire, Bridgeport's Superior Court Judge John T. Cullinan ordered the circus to pay $100,000 in legal fees to Julius B. Schatz. Hartford attorney who had served as legal counsel during a decade of receivership. When the fee is paid, the litigation that followed the greatest tragedy in circus history will be closed...
...Paradise), founded by Sir Alexander Korda. The loan first fell due in 1951, but was extended so that British Lion would not be forced to cut production. Last week things looked so bad that the National Film Finance Corp. called the loan, and sent British Lion into receivership. (But not Korda's London Films, a separate company...
Working in adjoining offices seven days a week, 14 hours a day, Vance and Hoffman streamlined production, sales and distribution, ruthlessly cut costs. By 1935 they managed to float a $6,500,000 new stock and bond issue, unloaded White Motor Co. and pulled Studebaker out of receivership-the only time in history that a U.S. automaker has done so. Hoffman was made president, Vance chairman...
...TIME, Oct. 27). Last week Bethlehem found a way to clear its name and get back Williamsport. It agreed to pay Williamsport stockholders an extra $6,000,000 for a clear title to the company (it had originally paid $3,300,000 for the business while it was in receivership). In approving the terms of the settlement, Judge Albert L. Watson called Bethlehem "an innocent victim of circumstances over which it had no control...
When the $7,500,000 Williamsport Wire Rope Co. found itself on the brink of bankruptcy in 1932, Bethlehem Steel Corp., which held 17% of Williamsport's stock, advised the company to go into receivership. In 1937, Federal Judge Albert W. Johnson ordered that the company be sold. He approved a bid of $3,300,000 from Bethlehem Steel, and wiped out stockholders' interests. Bethlehem's total cash outlay in the deal was only $89,000. It paid the balance by turning over $1,200,000 par value of Wire Rope's bonds, and certain bank...