-- - - _._-----_. __.

_-
to the Middle
charges, Also, the Federal Bureau of In-
Bankruptcy Judge vesUg.a!ton said II is
ter.
LIIe mac-

Once II trustee takes over within tbe

Appoints Trustee flext (f'1,\' days. the big qUfstlon will be
whether Hamilton Taft's asst'ts. which in-
clude 1Gil mUllan In notes to Mr_ Arm-

_.:: For Hamilton Tah

..,...
strong's with holdings in dis·
tressed real estate and oU and fa5 operat-
ing leases, can mal<e on the taxes and
""~ By RALPH T. K~c JR. , related penalties that Hamilton Tall con-
, StG.frRf!ptJrtf!' oj T H"1;: \II' AU.. STI\. £I!:T J QIJ'R ",.u. tracted to pay. ."'-, '4 • .'
SAN FRANCISCO A federaJ bank· The customer with the & ,.r- .... _, .....- r:
ruptcy court judge 8. trust~ to eJqlOsure Is Federal _ . .,.-

SUperv1S~ HamUlil!1 &: Co., 11 processor has provided for mUllan

of payroll \..aXes accused of diverting as Other customers that have ldem:lfled f
much as $100 million of customer funds in tentlal losses mclude Tatldern L:IIrnOU!i!1"§
an allegedly fraudulent scheme. Inc. (14.2 mlUlon). Stanford
The decisIon Judgi' Lloyd King is un· and Stanford University ($3.8
usual since Ta.ft has not $Ought Neiman Mucus Group (SSOO.OOO).
bankrlJplcy protection, and the judge Olher customers facing losses of more
hasn't ruled 011 a matlon filed by ells- than $1 million, according to CDurt docu·
!omers for an Chapter 11 teor- ments, include Sun MJC11lsystems Inc.,
ganlz.a!lon. The the "extreme Sony Scon Co., Clarls CDrp.•
remedy" was hecayse of "inrom- S & S Sboe Corp.,
p€tence and mismanagc-ment" at Hamilton CommercIal Cred.ll R. R. Donnelly
Taft and because "lh(' for mls. &. Sons. Blue Cross & ShIeld of Texas,
chief is gF'ea t." Verbatim, and Sandia Labs,
A former Hamilton Taft otrlcer in mid· Mark Macl)onaJd, a.n
. March told some ollilf' company's senUng Hamilton Taft, suggested cus·
cuslomers of the dh;ersion. Sioce tomers are partly to blame for /J'I.e mess
raft of lawsuits have be!"n rued in bf.<:ause had nOt insIsted on contrac~ .' .F

. 'Fra.nclsco rederaJ court agai.n.st Hamilton tual "Where was the polk-
Taft.. Its owner, Connie C. "Chip" Arm- Macl)onald said. "They were
, ,strong Jr .• and var10us afrmale companies to a valua.ble service for as
owned or controlle-d Mr. Armstrong. cheap a cost as could,"
The- suits Influenced Replied Judge : "One thing l100k
.and Corrupt Act vtoJalions, for In casE'S like this is and that ap-
breach of contract, and other pears to be absent."

PRI.\ IE HOl!ST(l'
R FL"':,\:-:U:-':C

SlTuU£iUllty lMaud dt"r/ll[lHlI'HlllIlJ illl'l'Jtmrnr

paruh 'hrotl_~I!Clllllh( HtwJwJ! mrtrop(lliflll! iJrca.
SIl.C.~{'Jf(t! IIUJ iF'ui.,jd(' ummll'rrioi, fl'ridcllIial.
li(lfcJ, rcliJiI, t?lIIllj~f.JlIJi1)' twd rC.Hal/rant.
Seteer include:
~-- -
17..3 Acres-
Ll:1 . .l,.,hlJ.l- Priu' U.,405,4/iN t1.562.119
j.:- (> ACT,', - NC.)f 11l1I:r,'o!lIllH'llIJl Airport
L" : P, , S_"_""-./"'" R"""',, PmI' '55
]-;") ,.... ,-r'·- - II. '__ ', I J ,'ltl.,,·,·
. - ': ~- h j",j'II'1 l'tL'
4