Word: repay
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Dates: during 1980-1989
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...Hutton got last month was especially controversial. Hutton pleaded guilty to a fraud that bilked some 400 banks out of at least $8 million between 1980 and 1982. In its settlement with the Government, Hutton agreed to pay a fine and court costs totaling $2.75 million and to repay banks the money they lost. No individuals, however, were prosecuted, even though the Justice Department admitted last week that two people were primarily responsible for the scheme "in a criminal sense." The department defended this act of amnesty by arguing that it wanted a fast settlement so that the banks could...
...play's subject is gloomy and its ending violent; the characters are mostly black, and the two whites are unsympathetic. Yet since it opened last October, it has played to 60% of capacity in the 1,108-seat Cort Theater, although it has not yet been able to repay its backers...
...largest defense contractors are under investigation for possible illegalities relating to their military work. Sherick said he will recommend that Weinberger ban two top executives of General Dynamics, Chairman David Lewis and Chief Financial Officer Gordon MacDonald, from dealing with Pentagon contracts. The firm recently agreed to repay the Government $244 million in improperly charged expenses. Such a blackball would put heavy pressure on General Dynamics to fire the men, since 94% of the company's business comes from Pentagon projects, including the Trident submarine, the F- 16 jet fighter and the M-1 tank...
Lenders, too, are getting tough with the Hunts. The principal banks used by Hunt International Resources, a huge sugar refiner and drilling-rig operator, have stopped paying some of the company's bills. The firm two weeks ago said that it would probably never be able to repay all of its $295 million in defaulted loans. One result: company paychecks were bouncing last week. Until recently, the banks were willing to keep lending to the company. Now the impatient institutions are putting heavy pressure on Hunt International to sell its assets in order to pay off its mounting debts...
...plan, loan rates would be set each year at 75% of the average market price for the previous three years. Thus farmers would be protected only against a sudden and exceptionally sharp price drop. And protected only temporarily at that, because the Administration bill would also force them to repay the loans in a year or so and sell the crops for whatever they could...