A family affair

Article Abstract:

Paul Reichmann was forced to relinquish his post in his family's privately held real estate development firm, Olympia & York, to outsider Thomas Johnson due to the demands of creditors. Creditors established a committee to oversee the restructuring of the firm's massive $23 billion debt.

Management, Reichmann, Paul, Reichmann, Albert, Reichmann, Ralph

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Battery not included: O&Y protects its New York City holdings

Article Abstract:

The World Financial Center in New York City, a development of financially troubled O&Y, remains outside of bankruptcy protection. The New York properties of the Reichmann family remain in fairly good financial condition.

Reichmann, Paul, family, World Financial Center

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A clash of the titans

Article Abstract:

Creditors are battling Olympia & York Developments Ltd in bankruptcy court. Canada's Companies' Creditors Arrangement Act ensures that lenders can petition against the debtor protection the act allows.

Cases, Bankruptcy

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