June 2, 1989
Bilzerian Cross-Examined: Singer Co. Chairman Paul A. Bilzerian admitted on the witness stand that he drew up invoices that were "misleading" and "not true" for payments he had received from the Los Angeles-based brokerage firm Jefferies & Co. But as a federal prosecutor began his cross-examination of Bilzerian, the corporate raider continued to deny government charges that the payments were part of an illegal trading arrangement under which Jefferies...
November 4, 1985
U.S. District Judge Leonard Sand in New York ordered an extension of Paul A. Bilzerian's tender offer for Cluett, Peabody and for Cluett's own exchange offer in order to provide more time to hear the legal challenges filed by each party. As a result, the proration and withdrawal deadline of Cluett's exchange offer, which was originally Friday, is now Nov. 12 and the offer expires Nov. 29. Withdrawal rights on the Bilzerian tender offer will expire Nov. 15, with the tender offer expiring Nov.
October 31, 1985
CPC Acquisition, a wholly owned subsidiary of California investor Paul A. Bilzerian, said the $40 million in additional financing will allow it to exercise its option on the 814,000 shares, or 10%, of Cluett, Peabody's outstanding stock now held by Craig Hall of Dallas. A filing with the Securities and Exchange Commission showed that $30 million of the new funds came from Hall. Meanwhile, U.S. District Judge Leonard B.
May 29, 1989
Restrictions Put on Singer Co.: The firm has been barred from selling any of its assets or paying stock dividends pending a lawsuit about claims that a former subsidiary defrauded the government. The company, named as a co-defendant in a civil suit against its former Link Flight Simulation division, was also ordered not to incur any new debt or make any payments to investor Paul A. Bilzerian, the Florida financier who acquired the company last year. The preliminary injunction was sought by the Justice Department, which last March joined the $231-million lawsuit that had originally been filed by a former Link Flight pricing administrator.