Advertisement
YOU ARE HERE: LAT HomeCollectionsAmerican Continental Corp
IN THE NEWS

American Continental Corp

BUSINESS
September 10, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Nearly 100 small investors never joined the class-action lawsuits filed by attorneys for thousands who lost money in the collapse of Charles H. Keating Jr.'s financial empire. Now they're glad they stayed out. The investors, who filed a conventional lawsuit, stand to recover 85% of their money--well ahead of the 40 cents on the dollar that 23,000 other bondholders will receive from the class-action suits.
Advertisement
BUSINESS
September 4, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
The son of convicted securities defrauder Charles H. Keating Jr. has agreed to settle regulators' claims against him by paying $30 million for losses at Irvine's failed Lincoln Savings & Loan, but it's unlikely that regulators will recover any of that money. The Office of Thrift Supervision said Thursday that the restitution settlement with Charles H. Keating III is aimed at recovering any money that might be hidden away and transferred to him at a later date.
BUSINESS
September 2, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Lawyers who represented small investors in litigation involving Charles H. Keating Jr.'s failed financial empire are headed for a major court battle over how to split up $38 million in attorney fees. The initial money for legal bills is expected to be released this month, along with nearly $101 million for investors in Keating's American Continental Corp., the Phoenix company that owned Irvine-based Lincoln Savings & Loan.
BUSINESS
August 25, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Robert M. Wurzelbacher Jr., son-in-law of convicted thrift operator Charles H. Keating Jr., agreed not to violate securities law in the future as part of his settlement with the Securities and Exchange Commission, the federal agency said Monday. Wurzelbacher is the fourth of 10 executives and Keating business associates sued by the SEC last December to settle allegations of fraudulently inflating profits at American Continental Corp. and its Lincoln Savings & Loan subsidiary.
BUSINESS
August 14, 1992 | ANNE MICHAUD, TIMES STAFF WRITER
Lawyers for small investors who won a multibillion-dollar verdict last month against Charles H. Keating Jr. and some of his cohorts aren't sure yet if they'll be able to collect the judgment. Joseph W. Cotchett Jr., the chief trial lawyer for the investors, said Thursday that appeals of the multibillion-dollar federal court verdict last month will delay any recovery of the total $288.7 million that his clients lost after Keating's financial empire collapsed in April, 1989.
BUSINESS
July 10, 1992 | From Associated Press
Deliberations in Charles Keating Jr.'s civil fraud trial continued for a sixth day Wednesday as jurors considered what damages to assess the former Phoenix financier and whether to find three co-defendants liable for damages. The 11 jurors began weighing the evidence June 29, three days after the 3 1/2-month trial concluded, and deliberated for three days last week. They went home Wednesday without reaching a verdict. Several written questions have been passed to U.S.
BUSINESS
July 2, 1992 | JAMES S. GRANELLI
Jurors in the $1.2-billion civil trial of former Lincoln Savings & Loan owner Charles H. Keating Jr. and others went home for the week Wednesday without reaching a verdict. Lawyers on both sides of the fraud and racketeering case had expected a quick decision. But the federal court jury in Tucson, which started deliberations on Monday, asked a few questions about Lincoln's accounting on certain kinds of loans, then left the courthouse. Small investors lost $288.
Los Angeles Times Articles
|