OTHER NEWS - Jan. 3, 1992
From Times Staff and Wire Reports
Top Maxwell Executive May Resign: The chairman of Maxwell Communication Corp. is considering resigning after a British court’s approval of a plan that would strip the board of a role in the company’s restructuring, the Financial Times said. Neither the chairman, Peter Laister, nor Bob Cole, spokesman for Maxwell Communication, could be reached for comment. Investigators are trying to track down more than $1.2 billion allegedly siphoned from some Maxwell companies and their pension funds to prop up Maxwell Communication’s stock price, make loan payments and cover operating losses at other companies.
