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Southern California Savings Loan Association

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BUSINESS
May 1, 1987 | TOM FURLONG, Times Staff Writer
Regulators gave final approval Thursday to the sale of Southern California Savings & Loan to a group of investors led by former U.S. Treasury Secretary William E. Simon and former Federal Reserve Board Vice Chairman Preston Martin. Terms of the sale call for the outside investors, including Simon's group and affiliated Australian investors, to pump $43 million into the crippled financial institution, which is based in Beverly Hills. Federal Savings & Loan Insurance Corp.
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BUSINESS
September 21, 1987 | GREG JOHNSON, Times Staff Writer
City Investing Co., the former owner of Southern California Savings & Loan, will pay $15 million to a savings and loan regulatory agency to settle a lawsuit involving the way the ailing thrift and its parent company shifted certain tax liabilities. The Federal Savings and Loan Insurance Corp., the arm of the federal government that insures thrift deposits and oversees troubled thrifts, had sued City Investing for the money after the thrift was placed in receivership in June, 1985.
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BUSINESS
September 21, 1987 | GREG JOHNSON, Times Staff Writer
City Investing Co., the former owner of Southern California Savings & Loan, will pay $15 million to a savings and loan regulatory agency to settle a lawsuit involving the way the ailing thrift and its parent company shifted certain tax liabilities. The Federal Savings and Loan Insurance Corp., the arm of the federal government that insures thrift deposits and oversees troubled thrifts, had sued City Investing for the money after the thrift was placed in receivership in June, 1985.
BUSINESS
May 1, 1987 | TOM FURLONG, Times Staff Writer
Regulators gave final approval Thursday to the sale of Southern California Savings & Loan to a group of investors led by former U.S. Treasury Secretary William E. Simon and former Federal Reserve Board Vice Chairman Preston Martin. Terms of the sale call for the outside investors, including Simon's group and affiliated Australian investors, to pump $43 million into the crippled financial institution, which is based in Beverly Hills. Federal Savings & Loan Insurance Corp.
NEWS
July 30, 1987 | JANE APPLEGATE, Times Staff Writer
The former owner of an Orange County savings and loan association, accused of illegally receiving at least $6 million from the insolvent institution, has been arrested and charged in San Francisco with applying for a passport in a dead man's name. John L. Molinaro, 46, former chairman of Ramona Savings & Loan Assn. of Orange, was planning to travel to Great Britain, according to his passport application.
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