BANKING/FINANCE
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Janet F. McKinzie, the confidante and companion of the late owner of North America Savings & Loan, will start receiving $3,000 a month in living expenses from assets that a federal court had frozen as part of the litigation stemming from the collapse of the S & L 14 months ago.
The monthly stipend will come from interest earned on a $10-million insurance policy on the life of Duayne D. Christensen, who died the day that his Santa Ana institution was seized by regulators. McKinzie was the sole beneficiary under the policy.
The amount, ordered by U.S. District Judge Harry Hupp, is in addition to $20,000 a month that is earmarked for attorneys defending her in a $43-million suit regulators have brought against her and others. The suit alleges fraud and other wrongdoing in the collapse of the S & L.
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