ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, June 8, 1996 TAG: 9606090036
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
Five file for bankruptcy
Five bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. Three of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.
Leed's Inc., a musical instrument store in Roanoke, filed for liquidation. Mark A. Black, president, estimated both assets and liabilities at more than $1 million.
Tomore Inc., a dry cleaner in Blacksburg, filed for reorganization and protection from creditors. The company estimated assets at less than $100,000 and liabilities at more than $100,000.
Roy Lee Owens and Gale Deanna Owens of Breaks in Buchanan County filed for liquidation with assets of $34,115 and liabilities of $60,937. Gale Owens trades as Alyssa's Floral/Family Florist. David A. Lee and Melody A Lee of Big Rock in Buchanan County filed for liquidation with assets of $23,790 and liabilities of $123,770. David Lee trades as Dave's Place.
Remus Keen of Doran, a self-employed musician, filed for liquidation with assets of $26,360 and liabilities of $213,610.
- Staff report
UK firm owns all Hard Rock Cafes
NEW YORK - Rank Organisation Plc, the owner of most of the world's Hark Rock Cafes, on Friday bought the rest of the rock 'n' roll-themed restaurants from the chain's co-founder for $410 million in cash.
Rank bought 17 restaurants from Peter Morton, who founded the chain in 1971 with Isaac Tigrett. The chain has been split since 1985, when the feuding founders divided worldwide rights.
The purchase gives Rank, a London-based entertainment and leisure conglomerate, control of all 58 Hard Rock Cafes worldwide. That will allow it to get more directly involved in the music industry, as well as cut advertising and purchasing costs.
- Bloomberg Business News
DuPont loses $4 million lawsuit
MIAMI - In a stunning setback for DuPont, a Dade jury late Friday awarded nearly $4 million to a West Palm Beach couple who charged that an agricultural fungicide made by the company led to their son being born without eyes.
The verdict was the first in the country to tie Benlate 50 DF to a public health problem, a linkage that the Wilmington, Del., chemical giant has ardently denied, though it has settled some cases over damages to crops.
In a 1993 lawsuit, Juan and Donna Castillo claimed that in early November 1989, a tractor operating a spraying machine on Pine Island Farms in South Dade sprayed Donna Castillo as she took a stroll to a nearby mall while she was pregnant. In court, she testified that after one or two minutes of exposure, she was covered with the chemical. The following year, her child, who is now 6, was born without eyes, a condition called microphthalmia.
DuPont has always maintained that Benlate is not harmful to public health. Since 1991, it has resisted court challenges brought by farmers and nursery owners that the fungicide damaged crops. The company has paid out more than $1 billion in settlement money and jury awards.
- Knight-Ridder/Tribune
LENGTH: Medium: 69 linesby CNB