SECURITIES
From Times Staff and Wire Reports
New Suit Filed Against Boesky: San Diego-based Northview Corp., a bankrupt motel chain operator formerly headed by convicted stock speculator Ivan F. Boesky, filed a suit accusing Boesky and his wife of looting the company in a merger scheme involving Calmark Holding Corp., a Los Angeles-based real estate development company. The suit alleges that Northview’s principal shareholders--primarily some relatives and friends of Boesky--agreed to allow Calmark to acquire Northview in 1987 to obtain a high payment for their shares. The suit, which also names Calmark Holding as a defendant, accuses Calmark of obtaining Northview “as part of a desperate effort to sustain its cash-starved subsidiaries.” The suit seeks $100 million in damages.
