O&Y: IT'S THE REICHMANNS' LOSS.

This article states that Toronto's Reichmann family is almost sure to lose control of giant Olympia & York Developments (O&Y). Under a plan submitted by the Reichmanns in Canadian court on October 28, 1992, they would cede 90 percent of O&Y's Canadian arm to creditors over three to five years. Under a separate plan, the Reichmanns would offer creditors 49 percent of their U.S. holdings.