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Politics : Formerly About Applied Materials

AMAT 258.22

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To: StanX Long who wrote (55323)	11/10/2001 2:47:27 AM
From: StanX Long	Read Replies (1) of 70976

WOW,Stan $800 million, loan in December 1998 and filed for bankruptcy court protection eight months later WIRE: 11/09/2001 7:48 pm ET Chase, Iridium Lenders Sue Motorola abcnews.go.com CHICAGO (Reuters) - Chase Manhattan Bank and 17 other lenders are suing Motorola Inc.<MOT.N> , claiming Motorola and satellite-phone company Iridium LLC fraudulently induced them into loaning Iridium $800 million, according to regulatory documents filed on Friday. Iridium, which Motorola created and in which it held an 18 percent stake, received the loan in December 1998 and filed for bankruptcy court protection eight months later, according to the U.S. Securities and Exchange Commission filing. Chase Manhattan, now part of J.P. Morgan Chase & Co. Inc. <JPM.N>, and the other plaintiffs are seeking recovery of a portion of the unpaid loans from Motorola, according to the SEC documents.

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