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Metropolitan bankruptcy saga likely has concluded
-Journal File Photo
This 2004 photo shows the former Metropolitan Financial Center shortly after Metropolitan Mortgage and some tenants began vacating it.
U.S. Bankruptcy Court trusts have issued what might be the final payments to investors who lost hundreds of millions of dollars when Spokane-based Metropolitan Mortgage & Securities Co. and affiliate Summit Securities Inc. shut down nearly two decades ago.
The latest distribution checks mailed to beneficiaries by the Metropolitan Creditors’ Trust and Summit Creditors’ Trust totaled nearly $13 million, according to an accompanying Dec. 16 letter of explanation from Maggie Lyons, Coeur d’Alene-based trustee and plan administrator for both trusts. ....

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