Southmark Emerges From Bankruptcy: The Dallas-based real...
From Times Staff and Wire Reports
Southmark Emerges From Bankruptcy: The Dallas-based real estate and financial services firm, one of the largest firms ever to seek bankruptcy protection, said it transferred $76 million in cash and securities to agents of its creditors and shareholders pursuant to reorganization. The firm also named Glen Adams to succeed Arthur Weiss as chairman, president and chief executive. Southmark filed for Chapter 11 protection in July, 1989.
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