OTHER NEWS - June 1, 1992
Rescue Proposed for Olympia & York Project: The Anglo-American conglomerate Hanson PLC was reported interested in helping to rescue London’s Canary Wharf as British ministers prepared to discuss the collapse of Europe’s largest property development. The Sunday Telegraph in London said Hanson had emerged as a potential savior for the $5.4-billion project, which was placed under administration last week. Canary Wharf, owned by Toronto-based Olympia and York Developments Ltd., is in the hands of court-appointed accountants who have a three-month mandate to come up with a plan to avert liquidation.
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