Administrators Appointed to Run Polly Peck: In...
From Times Staff and Wire Reports
Administrators Appointed to Run Polly Peck: In the second biggest corporate failure in British history, a judge placed the troubled Polly Peck conglomerate in a form of bankruptcy reorganization. The move effectively took the group out of the control of chairman and chief executive Asil Nadir, ending weeks of efforts by Nadir to drum up funds as part of a rescue package.
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