Landmark’s Thrift Unit May Be Seized: The...
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From Times Staff and Wire Reports
Landmark’s Thrift Unit May Be Seized: The Carmel-based real estate developer, which is trying to sell its trophy golf resort properties to Japanese investors, disclosed that federal regulators may seize its insolvent Oak Tree Savings Bank unit. Regulators with the Office of Thrift Supervision told Landmark Land Co. executives that they “might appoint a conservator or take other action” on Oak Tree, Landmark said in a recent proxy statement filing with the Securities and Exchange Commission.
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