Share this article

print logo


Representatives of numerous government agencies that put money into Orange County's failed investment pool reached agreement on a plan to pay out the pool's remaining $5.7 billion.

Most investors would get 77 cents on the dollar if the agreement is approved in bankruptcy court, but other agencies with money in a bond fund that was represented as lower risk would get 85 cents on the dollar.

The plan was announced after a meeting Saturday of seven representatives chosen to negotiate on behalf of 194 agencies with money in the pool.

There are no comments - be the first to comment