OTHER NEWS - May 26, 1992

Mountleigh Group Files Bankruptcy: Mountleigh became the latest casualty of Britain’s real estate slump, going into a form of bankruptcy protection with debts of $910 million, accountants and company sources said. Accounting firm KPMG Peat Marwick said in a statement that it has been appointed to be receiver to the Mountleigh parent company. The move means KPMG will run the real estate company while it tries to formulate a plan for the future. Mountleigh’s board met Saturday and invited bank creditors to take over the 129-year-old company, said sources close to Mountleigh, which owns extensive British property interests.