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Trial Date Set for Bush, Others: U.S....

From Times Staff and Wire Reports

Trial Date Set for Bush, Others: U.S. District Judge Sherman Finesilver scheduled an Oct. 7, 1991 trial date for a $200-million civil lawsuit against Neil Bush and other key figures in the collapse of Silverado Savings & Loan. The Federal Deposit Insurance Corp. filed the lawsuit against the president’s son and 12 other former Silverado directors, attorneys and executives in September. The suit claims that the officials were “grossly negligent” in their management of Silverado, which collapsed in 1988. The bailout of the thrift is expected to cost taxpayers about $1 billion. The suit claims that the defendants authorized excessive compensation to management and approved a series of loans and other deals that drove the $2.3-billion thrift into insolvency.


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