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Reliance Insurance Co

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BUSINESS
June 20, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
Low-profile real estate investor Michael Schuminsky has acquired the 127,118-square-foot Westgate Business Park commercial "low-rise" complex in West Los Angeles from Reliance Insurance Co. for about $21.6 million in cash. Schuminsky, who operates primarily from offices in Nevada and Oklahoma, has a widespread commercial real estate portfolio totaling about 10 million square feet--including several Santa Monica office buildings.
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BUSINESS
May 30, 2001 | From Associated Press
State insurance regulators Tuesday assumed control of financially troubled Reliance Insurance Co. and will review the company's finances to determine if it should be liquidated. "At this point we have taken control," said Insurance Commissioner M. Diane Koken. "We will analyze the financial position . . . Although we remain optimistic, there is a possibility that this will not remain in rehabilitation, it will go to liquidation."
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BUSINESS
May 30, 2001 | From Associated Press
State insurance regulators Tuesday assumed control of financially troubled Reliance Insurance Co. and will review the company's finances to determine if it should be liquidated. "At this point we have taken control," said Insurance Commissioner M. Diane Koken. "We will analyze the financial position . . . Although we remain optimistic, there is a possibility that this will not remain in rehabilitation, it will go to liquidation."
BUSINESS
June 20, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
Low-profile real estate investor Michael Schuminsky has acquired the 127,118-square-foot Westgate Business Park commercial "low-rise" complex in West Los Angeles from Reliance Insurance Co. for about $21.6 million in cash. Schuminsky, who operates primarily from offices in Nevada and Oklahoma, has a widespread commercial real estate portfolio totaling about 10 million square feet--including several Santa Monica office buildings.
CALIFORNIA | LOCAL
May 4, 1992 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Norman Maltz, in a T-shirt and baggy pants, was wrapping up yet another call with a frantic liquor store owner. "Take care and be safe," he said. "Oh, don't stay and defend the store. . . . If there's trouble, just get out." Maltz insures liquor stores--one of the first and favorite targets of looters in the riots that began Wednesday. His N.J. Maltz Insurance Services on Reseda Boulevard in Northridge covers 500 to 600 stores in Los Angeles, about 100 in the areas hardest hit by rioting.
BUSINESS
April 19, 1985
The qualification of Wickes Cos.' financial statements for the last two fiscal years has been removed from the company's fiscal 1985 annual report because Wickes has resolved uncertainties about its debt repayment and other matters, independent auditor Arthur Andersen & Co. said. Wickes emerged from Chapter 11 bankruptcy proceedings in January; it had filed for protection in 1982. Meanwhile, a company controlled by financier Saul P.
BUSINESS
October 7, 1993
Ginsberg, Stephan, Oringher & Richman, a Los Angeles litigation firm, has opened an Orange County office by hiring Steven Brower. Brower was previously a partner with Katten Muchin Zavis & Weitman in Irvine. He brings with him clients Borland International, Oracle Corp., QMS, Transamerica Financial, St. Paul Fire & Marine Insurance Co. and Reliance National Insurance Co.
BUSINESS
March 12, 1990 | From Times Wire Services
Winterthur, one of Switzerland's leading insurers, said today that it has acquired a unit of Philadelphia-based Reliance Insurance Co. for $630 million in cash. The acquisition of General Casualty Co. of Wisconsin, based in Sun Prairie, Wis., will raise Winterthur's total U.S. premium income to nearly $1.2 billion, the company said. The deal is subject to approval by U.S. regulators. General Casualty wrote premiums totaling about $400 million last year in 10 Midwest states.
BUSINESS
June 13, 2001 | Bloomberg News
Reliance Group Holdings Inc. filed for bankruptcy protection. The New York insurer listed $12.59 billion in assets and $12.87 billion in debts in a Chapter 11 petition filed in U.S. Bankruptcy Court in New York City. The company's Reliance Financial Services Corp. unit also sought bankruptcy protection. Reliance Insurance Co., the main operating unit of the company, was taken over May 29 by Pennsylvania insurance regulators under a state judge's order.
BUSINESS
June 1, 1990 | James S. Granelli, Times staff writer
Beleaguered businessman Charles H. Keating Jr. and executives in his Phoenix company will probably exhaust their $5-million defense fund by the end of July and risk losing legal representation in a slew of court cases stemming from the Lincoln Savings & Loan scandal, one of his lawyers said Thursday. Reliance Insurance Co., which has been paying the legal fees of 10 law firms, has notified directors and officers of Lincoln's former parent, American Continental Corp.
CALIFORNIA | LOCAL
May 4, 1992 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Norman Maltz, in a T-shirt and baggy pants, was wrapping up yet another call with a frantic liquor store owner. "Take care and be safe," he said. "Oh, don't stay and defend the store. . . . If there's trouble, just get out." Maltz insures liquor stores--one of the first and favorite targets of looters in the riots that began Wednesday. His N.J. Maltz Insurance Services on Reseda Boulevard in Northridge covers 500 to 600 stores in Los Angeles, about 100 in the areas hardest hit by rioting.
BUSINESS
November 20, 2002 | E. Scott Reckard, Times Staff Writer
A federal judge closed out the predatory-lending case against Irvine-based First Alliance Corp. on Tuesday, clearing the way for settlement checks to go out next month to more than 18,000 borrowers who, according to private lawsuits and the Federal Trade Commission, were routinely tricked into paying exorbitant fees. U.S. District Judge David O.
CALIFORNIA | LOCAL
July 29, 1993 | ERIC MALNIC, TIMES STAFF WRITER
A chiropractor and a lawyer who has served as a reserve police officer and judge pro tem in the Culver City Municipal Court were arraigned Wednesday on charges that they presented fraudulently inflated injury claims in an auto accident case. Bail was set at $100,000 each for the chiropractor, Dennis Singh, and attorney David M. Shaby II, who were arrested Tuesday. Shaby's father, contractor David M. Shaby Sr.
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