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Livent Gets $5 Million From Directors

November 20, 1998|JAMES BATES

Livent Inc. said that it has received $5 million from a group of its directors, adding that the transaction was approved during a U.S. Bankruptcy Court hearing Thursday in New York. The Toronto-based live-theater producer, known for such productions as "Ragtime," "Show Boat" and "Fosse," filed for protection this week under Chapter 11 of the Bankruptcy Code amid a sweeping internal investigation into financial irregularities by its former managers. The company is now controlled by an investment group that includes former agent Michael Ovitz, former investment banker Roy Furman and Boston financier Thomas Lee.

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