Keating Misses Court Deadline

Charles H. Keating Jr., former chief of the parent of failed Lincoln Savings & Loan, who suffered a string of legal setbacks last week, missed a court-sanctioned deadline Monday to disclose his personal finances, prompting thrift regulators to consider seeking a contempt citation.

Keating, who last week resigned as chairman and chief executive of American Continental Corp., Lincoln’s former parent, failed to comply with a government order to release a list of his assets to the Office of Thrift Supervision. Earlier this month, the agency ordered the disclosure as part of a $41-million restitution claim against Keating and five associates.

An OTS spokesman Monday described a contempt of court action as an “option” but declined further comment.

An attorney for Keating also declined comment.

Keating resigned last week as chairman and chief executive of American Continental, a Phoenix development company that once owned Lincoln. Five top American officers also resigned Friday. The company is undergoing reorganization under the protection of federal bankruptcy laws.

Keating resigned after a U.S. District Court judge last week upheld the government’s seizure of Lincoln, ending Keating’s efforts to regain control of the thrift.

The OTS has charged Keating and his associates with siphoning millions from the Irvine-based thrift.