Price communications corporation liquidating trust

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He thereby oversaw the management of the private side's interest in TCP, although he did not run TCP's business.

These trusts were formed to (i) liquidate all assets, including some subsidiaries not sold along with Macmillan and (ii) distribute the proceeds to creditors holding allowed claims. Although the facts regarding the early years are undisputed, the parties hotly contest Aboff's role not long after Shaffer joined the scene.Milbank, Tweed, Hadley & Mc Cloy (George Brandon and John M. Thus the private side had fifty percent ownership of TCP through its ownership of TCTI, Inc.Conlon, of counsel), New York City, for joint adm'rs. Because of his prior involvement with Thomas Cook Travel at Dun & Bradstreet, Shaffer agreed to become an officer and director of TCTI, Inc. Whereas ultimate corporate ownership of the public and private sides was in U. entities, there were lesser holding companies as well in both the public and private corporate chains. These two companies and their subsidiaries constituted about eighty percent of the value of the public side. The two parents were not corporate strangers, however, for Headington owned part of MCC, functioning as the vehicle through which the Maxwell family maintained part ownership of the public side. The public side parent, MCC, had two assets which were its most valuable, its direct or indirect stock ownership of two U. corporations, Macmillan, the well-known publishing company, and OAG, publisher of the Official Airlines Guide.

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