A summary of Southern California-related business litigation developments during the past week.
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Keating Insurance Hearing: After hearing lawyers’ arguments in Los Angeles, U.S. District Judge Stephen Wilson asked for more information before he rules on whether an insurance firm must defend Charles H. Keating Jr., chairman of American Continental Corp., against bondholders’ lawsuits. National Union Fire Insurance Co. of Pittsburgh argued that Keating’s policy does not cover the suits by bondholders who bought $200 million in uninsured, now-worthless junk bonds. Keating and several executives sued the insurance company to force it to defend them. (Filed Sept. 7, 1989. Case Nos. CV89-5354; CV89-6799)
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