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May 18, 1993|From Times Staff and Wire Reports

Standard Brands Paint Co. said it received court approval of the firm's bankruptcy reorganization plan, with an effective date of June 14. Current shareholders of the Torrance-based paint retailer will own 25% of the reorganized company. The firm also said it lost $38.3 million on sales of $227 million in 1992. . . . Real estate management firm Angeles Corp., which filed for Chapter 11 bankruptcy on May 3, said the American Stock Exchange will delist its common stock, units and 1995 bonds beginning June 1. The securities are expected to trade over-the-counter thereafter.

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