January 19, 1989 |
In the early 1980s, Abbey J. Butler was scrambling from under the collapse of his Los Angeles mail-order business and a series of lawsuits over his financial dealings. He filed for personal bankruptcy twice. Gone were the Rolls-Royce convertible and the house on the beach at the Malibu Colony. He listed debts of $888,798 and $4,635 in assets, including a $35 watch, in 1983. Now, six years later, the former Los Angeles businessman's fortunes have improved dramatically.