Price communications corporation liquidating trust


21-May-2020 16:38

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Prior to its acquisition by MCC, OAG had as its president one David Shaffer. Following Macmillan's entry into the Maxwell fold, Shaffer's duties were expanded to include management not only of OAG but of Macmillan as well.

Both OAG and Macmillan were acquired by MCC in 1988, OAG from Dun & Bradstreet and Macmillan in a hostile takeover.

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Important Note: This page contains Division of Investment Management no-action letters dated on or after January 1, 1993.

The trustees were empowered to object to and resolve, by litigation or settlement, disputes respecting claims and to prosecute all causes of action of the debtor (with certain minor exceptions not here relevant). Aboff's Relationship with the Maxwells and their Companies With that background in place, we move still further back in time than when we began and turn to Sheldon Aboff's role with the Maxwells and their growing U. Indeed, as will become apparent, the disputes are sufficiently material to preclude the grant of summary judgment.

Aboff worked as an auditor for Price Waterhouse from 1967 until 1975. publishing company which at the time was Robert Maxwell's principal holding in the United States.

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MCC did not exercise this option but instead assigned it to the private side, which purchased the company and renamed it TCTI, Inc.In 1989 Shaffer was appointed executive vice president of Macmillan and the next year was elevated to the office of president, with responsibility for the management of all of the MCC companies located in the U. At this point, the Electronic Publishing Group ceased to exist; its component companies were integrated into various divisions of Macmillan.In 1991, Shaffer was appointed as MCC's chief operating officer and his responsibilities were augmented to cover worldwide operations for the companies under his management. Those two proceedings, a chapter 11 reorganization and a British administration, were handled in tandem.He thereby oversaw the management of the private side's interest in TCP, although he did not run TCP's business.

Thus, to recap just a bit, in the early part of his tenure with Maxwell, Shaffer managed OAG, Macmillan and the Electronic Publishing Group (all public side) and he oversaw TCTI's investment in TCP (private side). The components were known respectively as the "private side" and "public side." The "public side" and "private side" labels serve to identify the type of ownership of particular corporations, be they domestic or foreign. ("PH(US)I"), which is a contraction of Pergamon Holdings (United States), Inc.