A summary of Southern California-related business litigation developments during the week of Dec. 11.
From United Press International
No Freeze on American Continental Assets: A federal judge in Los Angeles declined Monday to place an immediate freeze on $100 million in assets of the parent company of bankrupt Lincoln Savings & Loan, money that lawyers for investors argued was controlled by owner Charles H. Keating Jr. Attorneys for Lincoln investors said American Continental Corp., parent corporation of the collapsed Irvine-based thrift, was run as “a private little corporation” for the benefit of Keating. American Continental filed for bankruptcy protection earlier this year, triggering the nation’s biggest savings and loan failure. (Case No. CV89-6744IH, Filed Nov. 20, 1989)
