Robert Maxwell |
Robert Maxwell married
Elisabeth Meynard and together they had five children and some of them later
worked in Maxwell’s company. He used his army contacts to establish his first
business, a publisher of scientific works. This grew rapidly and through buying
Pergamon Press he was able to build
his own successful publishing company.
This man later acquired British Printing and Communications
Corporation (BPCC), which was later sold as a management buyout. He also
became interested in acquiring Mirror Group
Newspapers which gave him more influence in the popular press. Maxwell also
became well known for his chairmanship of Oxford United. He bought the club
when they were in the lower leagues and near bankruptcy. His money helped lead
the club to a rare national trophy, the League Cup in 1986. However, the
success story later turned sour as money dried up and the club slid back down
the league tables.
Later, his business became
increasingly burdened with debt. Unknown to others during his lifetime, he
started taking money from his companies pension funds to keep his business
afloat. After his death, it became graphical that he had left a huge hole in
his company’s pension funds. Though the government injected some money, many
pensioners were left with only a fraction of their pension entitlement.
At the age of 68, Robert Maxwell
died in unexpected circumstance. After his death, the Maxwell companies filed
for bankruptcy protection and his son, Kevin Maxwell was declared bankrupt with
debts of £400m. His sons went on trial for conspiracy to defraud but were
acquitted in 1996.
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