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Metropolitan Mortgage

In January 2004, Metropolitan Mortgage declared bankruptcy, taking down with it the fortunes of many investors who placed their trust in the decades-old Spokane company.

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  • Thu., Sept. 2, 2010

    Open space designation fields many nominees in county

    Three dozen properties have been nominated for purchase by Spokane County’s Conservation Futures program. The candidates to become permanent open space vary from half an acre to 920 acres and …

  • Sun., May 23, 2010

    Settlement squeezes out a bit more Met money

    C. Paul Sandifur Jr., the former chairman and chief executive officer of Metropolitan Mortgage & Securities Co., will pay $23,000 to investors in the bankrupt company as part of a …

  • Wed., Feb. 24, 2010

    New settlement in Met suit

    A $38 million settlement proposed Tuesday in the Metropolitan Mortgage & Securities Co. class action lawsuit would help several thousand investors recoup some losses from Spokane’s largest business collapse. Investors …

  • Sun., Dec. 13, 2009

    Met Mortgage creditors get 2 more cents on the dollar

    More checks are in the mail for creditors of bankrupt Metropolitan Mortgage & Securities Co. This third round of partial payouts splits about $10.4 million among 15,500 people who held …

  • Wed., Aug. 19, 2009

    Amid cleanup dispute, project could have new developer

    An $8 million legal dispute has erupted over the bill to clean up pollutants at Kendall Yards, the stalled housing and business project along the north bank of the Spokane …

  • Fri., June 26, 2009

    Ex-Met officer has filed Chapter 7 papers

    Thomas Masters, a former Metropolitan Mortgage and Securities Co. executive implicated in one of the fraudulent real estate schemes that unraveled the firm, has filed a $26 million personal bankruptcy …

  • Tue., Dec. 16, 2008, 8:05 p.m.

    Sandifur to pay $150,000 settlement

    C. Paul Sandifur, the former chief executive officer of bankrupt Metropolitan Mortgage & Securities Co., will pay $150,000 to refund investors and settle allegations that he improperly paid himself dividends …

  • Tue., Dec. 16, 2008, 7:46 p.m.

    Met class action suit advances

    A class action lawsuit involving more than 6,000 Metropolitan Mortgage & Securities Co. investors is moving toward trial in 15 months.

  • Sun., July 27, 2008

    Met investors to get $45 million

    About $45 million is set to be distributed to investors of Metropolitan Mortgage and Securities Inc. at the end of next week. It will be the second repayment following the …

  • Fri., June 20, 2008

    Second Met payout planned

    A long-awaited cash distribution to investors of bankrupt Metropolitan Mortgage and Securities will be mailed in late July.

  • Fri., June 6, 2008

    Met’s insurance affiliate sold

    Another chapter of the Metropolitan Mortgage & Securities Co. debacle nearly closed Thursday as the state receiver sold the defunct company’s largest asset – insurance affiliate Western United Life Assurance …

  • Sat., May 3, 2008

    Court approves sale of Met affiliate

    A $55 million deal to sell a Metropolitan Mortgage & Securities Co. insurance affiliate received court approval Friday. It remains unknown how much cash from the sale of Western United …

  • Tue., April 8, 2008

    Met insurance deal struck

    Insurance Commissioner Mike Kreidler has struck a $52 million deal to sell the key insurance affiliate of bankrupted Metropolitan Mortgage & Securities Inc. The agreement, pending court approval, would end …

  • Fri., March 14, 2008

    Creditors want control of Met affiliate

    Saying the state has mismanaged a former insurance affiliate of bankrupt Metropolitan Mortgage & Securities Co., creditors have asked a judge to force Washington Insurance Commissioner Mike Kreidler to relinquish …

  • Sun., March 2, 2008

    Met trust and accounting firm settle

    The Metropolitan Mortgage & Securities Co. investors’ trust has reached a settlement agreement of about $30 million with an accounting firm accused of making mistakes that led to the company’s …

  • Sun., March 2, 2008

    CEO’s ex-wife to pay $325,000 settlement

    Helen Sandifur, the ex-wife of Metropolitan Mortgage & Securities Co.’s chief executive, will pay $325,000 into a special trust to refund investors in the bankrupted company under a settlement disclosed …

  • Wed., Feb. 6, 2008

    Met investors win key reversal

    Burned Metropolitan Mortgage & Securities Co. investors will have their day in court against a big auditing firm they accuse of professional negligence. They have a shot at a potential …

  • Thu., Jan. 31, 2008

    Met investors’ hopes fade

    Some legal efforts to win money from deep-pocketed companies that audited Metropolitan Mortgage & Securities Co. are failing, potentially dashing the hopes of thousands of investors who looked to those …

  • Thu., Dec. 6, 2007

    Business in brief: SEC, Met Mortgage settlements approved

    A federal judge has approved settlements between the U.S. Securities and Exchange Commission and several Metropolitan Mortgage and Securities Co. figures, ending the agency’s sprawling legal action. C. Paul Sandifur …

  • Tue., Oct. 30, 2007

    Sandifur, SEC settle

    Disgraced Metropolitan Mortgage & Securities Co. figure C. Paul Sandifur Jr. will pay about $151,000 to settle allegations that he masterminded fraudulent commercial real estate deals that backfired into an …