Advertisement

OTHER NEWS

From Times Staff and Wire Reports

FGS Insurance Brokers Inc. Files Chapter 7: Sidney M. Field, former owner of the defunct FGS Insurance Agency, has filed a Chapter 7 bankruptcy liquidation petition for his FGS Insurance Brokers Inc. Field, who is a co-defendant in a racketeering suit filed by the state Department of Insurance against FGS and a number of its officials, said FGS Insurance Brokers is a separate company that has not been active since 1987, when its assets were acquired by Coastal Insurance Co., which later went bankrupt. FGS Insurance Brokers is, however, named as one of the defendants in the state’s suit. In his Chapter 7 filing in bankruptcy court in Santa Ana, Field lists $5,170 in assets and a potential liability of $300 million for FGS Insurance Brokers Inc.


Advertisement
Advertisement