Izalco Express Services: The Costa Mesa check-cashing...

Izalco Express Services: The Costa Mesa check-cashing and money order company, seized by state regulators two months ago for illegally accepting nearly $1.4 million in deposits, was sold for $175,000 to M.S. Management Corp. in Chicago.

The proceeds from the sale will be used to help pay Izalco creditors, including depositors, said Dennis I. Simon, the court-appointed receiver. Simon estimated that as much as $500,000 more in assets may be available to creditors. He said he will present a plan to Orange County Superior Court in May on handling depositor claims.