Nova Scotia Company Named as Potential Buyer of Lincoln

Central Guaranty Trust Co. in Nova Scotia was identified Tuesday as the Canadian company that has expressed an interest in buying Irvine-based Lincoln Savings & Loan.

The Halifax firm, the sixth largest trust company in Canada, was named during a U.S. Bankruptcy Court hearing Tuesday as a company that wants to buy Lincoln.

Federal regulators seized Lincoln on April 14, a day after its parent company, American Continental Corp., filed for bankruptcy protection while it reorganized its debts.

Two weeks ago, the Federal Home Loan Bank Board revealed that a Canadian firm had offered to buy Lincoln. The bank board would not name the firm, however.

Central Guaranty’s chairman, Struan Robertson, declined to comment on the proposal.