There is one message totalling 32 lines in this issue. Topics of the day: 1. Re. Escom reorganisation. ---------------------------------------------------------------------- Date: Sun, 7 Jul 1996 08:29:51 EDT From: From Anthony Hawkins Subject: Re. Escom reorganisation. Hi gang, Guess I should have included a bit that pointed out that the Amiga technology is now unreservedly held by "Viscom" and is presumably an ongoing, viable project. (Sorry 'bout that, I assumed everybody knew!). For the gossip-minded there was a bit more about the Escom affair in Saturday's FD.T. Apparently theres a probe going on by the German authorities into possible insider trading of shares of this company. Most of Escom's equity shares are held by a number of well-known German companies. Quelle, a mail-order firm, holds about 33%, Siemens Nixdorf, a computer maker, holds 12.5% and a bank holds 16%. Manfred Schmitt, founder and former CEO of Escom, held 22% at last report and another 16.5% are held by an unspecified number of shareholders. The technical term for the type of protection being sought by Escom is called "Vergleich", a situation very similar to the U.S. Chapter 11 form of bankruptcy. It is only possible if the company has sufficient funds to cover operating expenses such as wages and if it can repay 35% of its debts within 12 months. The situation came about because shareholders refused to supply further funds to cover unexpectedly high losses. -- Ciao...Anthony Hawkins ------------------------------ End of COMMODOR Digest - 6 Jul 1996 to 7 Jul 1996 ************************************************* =END=