Hanover Corp. used its links with a Nashville church to raise more than $18 million from about 150 small-time investors, promising a 24 percent annual return. Now the company is foundering amid bankruptcy filings and a lawsuit that calls it a Ponzi scheme.
Judge George Paine ruled this morning that it was all right for the president of a trucking magazine in bankruptcy to pay himself $10,000 a month while the magazine's creditors wait nervously for payment.
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