Holzmann probe widens as offices are raided

Article Abstract:

Philipp Holzmann AG's headquarters and offices were raided by police and law-enforcement officers in Germany. The raids reflect an intensification of the probe into the struggling construction company.

Legal issues & crime, Investigations

---

Holzmann chairman Binder to resign

Article Abstract:

Philipp Holzmann AG announced that resignation of Chairman Heinrich Binder. Mr. Binder's resignation will go into effect on December 14, 1999. Konrad Hinrichs will replace Mr. Binder as chairman. Holzmann nearly declared bankruptcy in November 1999.

Executive changes & profiles, Officials and employees, Appointments, resignations and dismissals, Binder, Heinrich

---

German government saves Holzmann from bankruptcy with fresh capital

Article Abstract:

The government of Germany made a guarantee of 250 million marks (127.8 million euros) to Philipp Holzmann AG. The new capital prevented the firm from going bankrupt.

Receipt of funds, Finance

Similar abstracts:

• Abstracts: Sprint's net increases 3% on growth in long-distance and wireless areas. Sprint's earnings rise; stock split planned at unit
• Abstracts: Qantas takes Impulse under its wing, trading use of name for needed cash. Cathay sets a code pact with AMR
• Abstracts: Legardere to invest 1.07 billion euros to expand its television interests. Vivendi unveils merger, knocking shares lower
• Abstracts: Microsoft antitrust trial helped shape digital era; software giant's dominance is tempered, but its strength is intact

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.