Advertisement
YOU ARE HERE: LAT HomeCollections

BRIEFLY

ComputerLand's bond was waived in a court case.

October 23, 1985

The deal struck with a group of investors removes a requirement that the big computer store chain post a $25-million bond in order to appeal a court decision that gave 20% of the company, and potentially overall control, to the investors. Attorneys for Micro/Vest, the investor group, agreed to waive the requirement for ComputerLand but left it in place for the Millard family, which owns 95% of the company. That appeared to eliminate any need for the company to seek bankruptcy protection.

Advertisement
Los Angeles Times Articles
|
|
|