California Pacific Funding Ltd

An Inglewood lender who is a central figure in a landmark Los Angeles lawsuit aimed at the financiers of some of the city's worst slums has defaulted on about $90 million in loans from banks and has stopped making payments to investors in his companies, an attorney for the businessman confirmed Friday.

The financier behind some of Los Angeles' worst slums has filed for bankruptcy protection from creditors, and a federal bankruptcy examiner has questioned the ability of his companies to fully pay an estimated $110 million in debts to investors and creditors. Alexander Spitzer, a central figure in the city's landmark lawsuit this year against slumlords and their lenders, filed Monday for protection under Chapter 11 of the U.S. Bankruptcy Code.

The financier behind some of Los Angeles' worst slums has filed for bankruptcy protection from creditors, and a federal bankruptcy examiner has questioned the ability of his companies to fully pay an estimated $110 million in debts to investors and creditors. Alexander Spitzer, a central figure in the city's landmark lawsuit this year against slumlords and their lenders, filed Monday for protection under Chapter 11 of the U.S. Bankruptcy Code.

An Inglewood lender who is a central figure in a landmark Los Angeles lawsuit aimed at the financiers of some of the city's worst slums has defaulted on about $90 million in loans from banks and has stopped making payments to investors in his companies, an attorney for the businessman confirmed Friday.