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Article: Judge KO's Gucci receiver. (for Gucci America)
- Article from:
- WWD
- Article date:
- August 10, 1987
- Author:
CopyrightCOPYRIGHT 1987 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Judge KO's Gucci receiver
NEW YORK (FNS) -- In the continuing Gucci family feud, a state court judge on Friday denied a motion by the Aldo Gucci branch of the family to appoint a receiver for Gucci America.
The ruling was made in a suit alleging that "criminal conduct charges" in Italy against the company's chairman, Maurizio Gucci -- who is Aldo's nephew -- and other members of current management were hurting the company. The action contends that the two factions on the board of directors are "hopelessly deadlocked" and asked for appointment of a receiver pending dissolution of the company.
The suit charges the Maurizio group with self-dealing ...