BANKING & FINANCE - Sept. 3, 1993
From Times Staff and Wire Reports
Grant Thornton Denies Government Report: The accounting firm disputed an Inspector General report that says it overcharged the government by more than $10 million for work done for the Resolution Trust Corp. at Homefed Bank, the failed San Diego-based thrift. Burt K. Fischer, east area managing partner who is responsible for the firm’s RTC contracts, said the charges revolve around unresolved policy disputes over what he says is the firm’s right to bill the RTC at rates specified in its agreement with the government, and whether it has the right to mark up subcontracted work, also sanctioned in the procurement document. Grant Thornton will meet with Inspector General representatives next week to go over the dispute.
