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From Times Staff and Wire Reports

Homefed Files $5.5 Billion of Claims Against RTC: Homefed Corp., the parent of failed Homefed Bank of San Diego, filed claims totaling more than $5.5 billion against the Resolution Trust Corp. and alleged the federal government may be botching the liquidation of the insolvent S&L.; Homefed Corp. Chief Executive Theodore Sprink described the filing as a possible bargaining maneuver in resolving claims the RTC may have against Homefed Corp. assets, which are mostly undeveloped residential housing tracts. The parent company filed earlier this year under Chapter 11 of the U.S. Bankruptcy Code for protection from creditors, including Homefed bondholders.

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