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C. Ormet v. Bradley (Collection Action)
On November 2, 1992, Ormet Corporation filed a lawsuit in
the United States District Court for the District of Connecticut
against petitioner.17 This lawsuit asserted that petitioner owed
Ormet $714,411.47 from an unpaid July 25, 1989, note petitioner
executed in favor of Ormet in the original amount of $650,000.
D. Boyle v. Boyle (Boyle Divorce Proceedings and Stock
Purchase Option)
During his contest with petitioner for control of Oralco,
Mr. Boyle was also involved in divorce proceedings with his then
wife, Camilla M. Boyle (Ms. Boyle). Mr. Boyle and Ms. Boyle were
married on February 10, 1962. During the majority of their
marriage, Mr. Boyle was employed as an engineer with Kaiser
Aluminum Corporation (Kaiser). In April 1983, Mr. Boyle left
Kaiser to become the president of Ormet, which was losing
millions of dollars at the time he assumed the role of president.
In September 1986, Mr. Boyle acquired 1,500,000 ORA shares. At
that time, ORA was the parent company of Ormet. Through an ORA
stock redemption, a reorganization of ORA, and a leveraged buyout
of Ormet, Mr. Boyle exchanged his 1,500,000 ORA shares for
241,935 Oralco shares. Following this reorganization, Oralco
owned all the shares of ORA, and ORA, in turn, owned all the
shares of Ormet.
17 This is lawsuit number three of the Six Lawsuits. See
supra note 3.
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