Keating Lets Disclosure Deadline Pass

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

Keating, who last week resigned as chairman and chief executive of Lincoln’s former parent, failed to meet a government order to release a list of his assets to the Office of Thrift Supervision, which earlier this month 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 refused comment.

Monday’s developments follow Keating’s resignation last week as chairman and chief executive of American Continental Corp., a Phoenix development company that once owned Lincoln. Five top American officers also resigned Friday. The company is undergoing reorganization under 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.