BEVERLY HILLS, Calif. - Westminster Capital Inc., holding company of the failed Far West Savings and Loan Association, said it received about $16.8 million from a previously approved settlement of claims against Drexel Burnham Lambert, Michael Milken, and related parties.

Westminster said the award was net of about $9.1 million in attorney's fees.

The company also said the Resolution Trust Corp. is continuing its investigation of certain potential claims against Westminster, whose thrift subsidiary was taken over by the Resolution Trust Corp. in early 1991.

Westminster said the RTC requested that it and three of its present and former officers and directors agree to extend the statute of limitations applicable to such potential claims, and that the request was being considered.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.