A California Superior Court has dismissed a lawsuit filed by theCalifornia Insurance Department alleging that Fremont GeneralCorporation used the liquidation of one of the company'ssubsidiaries to dodge millions in taxes.
The amended complaint, dismissed late last month by the court inLos Angeles, was filed by the state against Fremont General overissues related to the insolvency of one of its subsidiary, FremontIndemnity Corp.
In the suit, the state charged that Fremont General made use ofnet operating losses of Fremont Indemnity to avoid paying taxes onthe company's other operating income.
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