Rogerson Drops Suit Against Savings & Loan

Rogerson Aircraft Corp. said it has dropped its lawsuit seeking to force California Federal Savings & Loan to remove a $9-million lien against the Irvine helicopter and aircraft parts company’s assets. The S&L; filed the lien in a dispute over $6 million in loans to the Irvine-based maker of aircraft parts. Rogerson said the lien was filed after the company refused to pay a $560,000 penalty the S&L; demanded in return for allowing Rogerson to pay off the $4.5-million balance on two loans. The privately held company charged that the lien threatened its solvency.

Officials of the two companies could not be reached for comment late Tuesday. However, in a prepared statement, Rogerson said the S&L; has released all secured interests in the company. The question of whether the company owes a prepayment penalty will be decided in court, Rogerson added.