Word: creditors
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Dates: during 1970-1979
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That was certainly true for the West German government. In a move that left Bonn officials sputtering in helpless surprise, Morgan Guaranty Trust, the U.S.'s fifth largest bank and a leading creditor of the Iranian government, quietly went into an Essen court and attached Iran's 25% share of two of West Germany's best-known companies, Friedrich Krupp GmbH, a diversified steel and engineering combine (1978 sales: $5.9 billion), and Deutsche Babcock, a manufacturer of industrial equipment (1978 sales: $1.6 billion). Iranian stakes in the two companies were acquired under the Shah...
Once, according to one disgruntled creditor, Straw rented a jet to deliver a check: it bounced. Authorities say Straw may face charges of mail fraud, wire fraud and bankruptcy fraud. But in the meantime, his bankruptcy has left the art world's faith in itself considerably shaken...
...alleging both physical and emotional wounds. A court awarded her $12,000 in damages, but Polumbo did not pay. So Summers' attorney invoked a rarely used 1842 Connecticut statute that allows the indefinite imprisonment of a wrongdoer who has not paid his damages, as long as the creditor pays the prisoner's upkeep. For twelve days Summers kept her attacker locked in the Hartford jail, a revenge that cost...
...anything, can be done to salvage C.I.T.F.'s 11,500 jobs. Last week, in an effort to keep C.I.T.F. alive, Boussac offered to give up his entire $170 million personal fortune to help pay the company's debts of more than $100 million. But a group of creditor banks refused to allow this, explaining that most of Boussac's property was already tied up as collateral against previous loans. The French government, in keeping with Premier Raymond Barre's free-market philosophy, will not come to the rescue with taxpayers' money...
...busiest in Washington, as U.S. bank examiners press their potentially explosive investigation of Bert Lance's financial affairs. The comptroller's lengthy report is due soon, perhaps this week, and could save or squash the powerful budget director, who is Jimmy Carter's old pal, former creditor and longtime close confidant. Says Deputy Comptroller C. Westbrook Murphy: "All we're dealing with is the survival of Bert Lance and the reputation of the President, not to mention the performance of some of the biggest banks in the world...