BANKING

Hollow Victory: A group of small developers has won an $8.5-million verdict against defunct Pacific Savings Bank in Costa Mesa, but they may have a difficult time collecting much money.

The developers--Craig Delfs of San Juan Capistrano, Donald Sojka of Laguna Beach and Harry McKim of San Diego--lost a bid to reap millions of dollars in profits in developing a 100-acre site in Rowland Heights in the mid-1980s when a Pacific Savings subsidiary charged them nearly $1 million in loan fees and interest but never funded a $16-million loan.

Instead, Pacific Savings failed, and is now being liquidated by the Resolution Trust Corp., which may have only 50 cents on the dollar for the developers.

First, though, the RTC will try to reverse or reduce the Orange County Superior Court award. Then it may appeal. Meantime, it is suing Ticor Title Insurance Co. for negligence and seeks to be indemnified or reimbursed. Ticor, however, went bankrupt, and its assets were bought by Chicago Title Co. Ticor’s insurance carrier may be the only deep pocket left.