Articles > Newspapers > International Newspapers, Major Markets > The Oil Daily articles > March 1995

Article: MG plans to seek unspecified damages from unit's ex-chief. (Metallgesellschaft Ag; MG Corp.'s former president, Siegfried Hodapp)

Article from:
The Oil Daily
Article date:
March 22, 1995
Copyright

FRANKFURT, Germany -- Germany's Metallgesellschaft AG (MG) said Tuesday it plans to sue the former president of its U.S. MG Corp. operating division for damages in the New York Supreme Court.

The Frankfurt-based diversified metals group, brought to the brink of bankruptcy early last year because of huge losses in its oil futures trading position, has already filed suits against several other former officials, including former group chairman Heinz Schimmelbusch.

An MG spokesman said MG Corp. will file a lawsuit against former president and chief operating officer Siegfried Hodapp in the "near future." A summons has already been served, he said.

The ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: MG unit gets new chief. (Metallgesellschaft AG's ...
The Oil Daily;  February 17, 1994 ;     502 words ...NEW YORK -- MG Corp., the U.S. unit of Metallgesellschaft AG, named Ronald Rodgers president of MG Refining and Marketing, making him responsible for all of MG Corp.'s oil activities. Rodgers, who has 30 years of ...

Article: MG to keep U.S. unit. (Metallgesellschaft AG's ...
The Oil Daily;  May 16, 1995 ;     615 words ... ... Germany -- Germany's Metallgesellschaft AG said it plans to keep its U.S. unit MG Corp., which ran up huge ... conference. Neukirchen said MG Corp.'s outstanding loans ... considerable improvement in MG Corp.'s business situation ...

Article: MG unit to remain active. (Metallgesellschaft AG's ...
The Oil Daily;  March 15, 1994 ;     577 words ... ... S. unit of the German conglomerate Metallgesellschaft AG (MG), which was devastated late last ... unit's new chief executive says. MG Corp.'s Chief Executive Karl Von Der Heyden ... of our fiscal year on Sept. 30." MG Corp.'s oil business has returned to profitability ...

Article: MG loses lawsuit. (Metallgesellschaft AG)
The Oil Daily;  April 7, 1994 ;     577 words ...FRANKFURT -- Germany's Metallgesellschaft AG announced French Banque Francaise du Commerce Exterieur March 30 won a suit against U.S. unit MG Corp. for repayment of about $26.3 million in debt. The troubled German trading and metals company ...

Article: Inside the MG trading debacle. (Metallgesellschaft ...
Futures (Cedar Falls, Iowa);  April 1, 1994 ;     700+ words ...Metallgesellschaft AG, the German metals ... oil trading company MG Corp. went up in flames ... S. subsidiary of Metallgesellschaft AG (MG AG), a Frankfurt ... the CFTC met with MG Corp. officials Dec. 6 ...

Article: Federal Court Refuses to Dismiss $220 Million Lawsuit Against ...
PR Newswire;  April 3, 2000 ;     700+ words ... ... Refining and Marketing Company, Metallgesellschaft AG's (MGAG) U.S. subsidiary ... directed its agents, including MG Corp. and MGRM, to provide false ... engineering conglomerate, Metallgesellschaft AG ("MGAG") in late 1993 ...

Article: Arbitrators back MG over trader Benson in fight over firm's ...
The Oil Daily;  May 7, 1996 ;     700+ words ... ... massive trading debacle that nearly drove Metallgesellschaft AG (MG) into bankruptcy, oil trader ... derivatives contracts, top executives of MG Corp. and parent MG were fired on Dec ... unit of Metallgesellschaft Corp. (MG Corp.), MG's U.S. subsidiary, and ...

Article: MG abandoning U.S. oil marketing business, eyeing opportunities ...
The Oil Daily;  April 4, 1996 ;     700+ words ...German conglomerate Metallgesellschaft AG (MG) hopes to end its existing U.S. marketing operations ... of MG's U.S. subsidiary, Metallgesellschaft Corp. (MG Corp.). The company's remaining product marketing is too small ...

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives