Keating Sues Government: Beleaguered Arizona businessman Charles...
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Keating Sues Government: Beleaguered Arizona businessman Charles H. Keating Jr. and top executives of his bankrupt American Continental Corp. sued the federal government for $300 million, claiming that regulators wrongly took the company’s property--its Lincoln Savings & Loan subsidiary--and destroyed it. The suit, filed in U.S. Claims Court in Washington, is similar to one American Continental filed a year ago after regulators seized the Irvine-based thrift.
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