FundAmerica Assets to Be Released: A federal...
From Times Staff and Wire Service Reports
FundAmerica Assets to Be Released: A federal bankruptcy judge agreed to release $612,115 in assets of FundAmerica Inc., allowing the troubled Irvine marketing company to continue in operation and meet its overdue payroll. U.S. Bankruptcy Judge James N. Barr delayed a decision on whether to appoint a trustee to run FundAmerica but told attorneys for the company and creditors that he would be inclined to do so. The company filed for Chapter 11 bankruptcy on Friday amid allegations by authorities in several states that it operates a pyramid scheme.
