Columbia S&L; Says Seizure Probable: The Beverly...
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From Times Staff and Wire reports
Columbia S&L; Says Seizure Probable: The Beverly Hills thrift, insolvent by nearly $710 million because of junk bond losses, for the first time conceded in an SEC filing that it is “extremely likely” to be taken over by federal regulators. The disclosure comes as no surprise. Regulators have held off seizing the Beverly Hills thrift while its management tries to sell its portfolio of junk bonds, now worth about $2.5 billion.
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