OTHER NEWS - July 31, 1992

Links Between O&Y;, Failed Thrift Questioned: House Banking Committee Chairman Henry Gonzalez (D-Tex.) said he’s investigating whether Olympia & York executives played a role in the complex demise of a New Orleans thrift. A spokesman for Olympia & York, the distressed Toronto real estate giant, denied that the company helped manage Oak Tree Savings Bank of New Orleans or its parent company, Landmark Land Co. of Carmel, Calif. Gonzalez is looking at activities of Albert Reichmann, one of the three brothers who run O&Y;, and two O&Y; executives who served as directors of Landmark and Oak Tree. Oak Tree Savings was Louisiana’s biggest thrift, with $2.2 billion in assets.