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Lomas Financial Corp

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BUSINESS
March 5, 1990 | From United Press International
Columbia Savings Sues: Columbia Savings & Loan filed suit Thursday in Superior Court against Merrill Lynch for selling the thrift $20 million in debt obligations from a company that went bankrupt a few weeks later. Columbia bought the "remarketed notes" of Lomas Financial Corp. on Aug. 9, 1989. Within weeks the mortgage company defaulted on its debt and filed for bankruptcy, the suit said. Merrill Lynch had not yet been served with the suit.
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BUSINESS
March 5, 1990 | From United Press International
Columbia Savings Sues: Columbia Savings & Loan filed suit Thursday in Superior Court against Merrill Lynch for selling the thrift $20 million in debt obligations from a company that went bankrupt a few weeks later. Columbia bought the "remarketed notes" of Lomas Financial Corp. on Aug. 9, 1989. Within weeks the mortgage company defaulted on its debt and filed for bankruptcy, the suit said. Merrill Lynch had not yet been served with the suit.
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BUSINESS
March 3, 1990 | JAMES BATES, TIMES STAFF WRITER
Troubled Columbia Savings & Loan has sued Merrill Lynch, Pierce, Fenner & Smith, alleging that the Wall Street brokerage misled it into buying $20 million of "virtually worthless" junk bonds. Columbia said in the lawsuit that it bought the bonds in August from Merrill Lynch after allegedly being told by the brokerage that the bonds' issuer, struggling Lomas Financial, was about to receive new financing.
BUSINESS
March 3, 1990 | JAMES BATES, TIMES STAFF WRITER
Troubled Columbia Savings & Loan has sued Merrill Lynch, Pierce, Fenner & Smith, alleging that the Wall Street brokerage misled it into buying $20 million of "virtually worthless" junk bonds. Columbia said in the lawsuit that it bought the bonds in August from Merrill Lynch after allegedly being told by the brokerage that the bonds' issuer, struggling Lomas Financial, was about to receive new financing.
BUSINESS
December 31, 1991 | From Times Staff and Wire Reports
Lomas Financial Emerges from Bankruptcy: After more than two years in bankruptcy proceedings, Dallas-based Lomas Financial Corp. won court approval of its reorganization plan and emerged from Chapter 11. The plan centers on the spinoff to Lomas stockholders of most of its real estate business, Vista Properties Inc.
BUSINESS
March 20, 1991 | From Associated Press
Harvard University and Merrill Lynch & Co. have settled a lawsuit in which the school accused the securities firm of defrauding it of $45 million in a 1989 stock transaction. Daniel Steiner, vice president and general counsel at Harvard, said Tuesday that the settlement was "very, very satisfactory." He said both sides had agreed not to discuss the terms of the settlement. Harvard had contended in U.S.
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