Nova Scotia Company Named as Potential Buyer of Lincoln
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Central Guaranty Trust Co. in Nova Scotia was identified Tuesday as the Canadian company that has expressed an interest in buying Irvine-based Lincoln Savings & Loan.
The Halifax firm, the sixth largest trust company in Canada, was named during a U.S. Bankruptcy Court hearing Tuesday as a company that wants to buy Lincoln.
Federal regulators seized Lincoln on April 14, a day after its parent company, American Continental Corp., filed for bankruptcy protection while it reorganized its debts.
Two weeks ago, the Federal Home Loan Bank Board revealed that a Canadian firm had offered to buy Lincoln. The bank board would not name the firm, however.
Central Guaranty’s chairman, Struan Robertson, declined to comment on the proposal.
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