ESM was declared bankrupt at a Florida hearing.

ESM Government Securities, whose collapse earlier this month led to a run on savings and loan associations in Ohio and forced their temporary closure, was declared bankrupt at an emergency hearing in West Palm Beach, Fla. ESM is facing creditors’ claims of more than $300 million. Thomas Tew, a Miami attorney acting as receiver for the failed Fort Lauderdale, Fla., securities dealer, said he was placing it in Chapter 7 proceedings, meaning that the company’s assets will be automatically liquidated to pay off its debts.