Colonial Bancgroup Defeats FDIC Attempt to Assert $905 Million Priority Claim
In a ruling that could have a significant impact on proceedings
involving failed banks, the Federal Deposit Insurance Corp. has been
rebuffed in its attempt to assert a $905 million priority claim against
the holding company of the failed Colonial Bank. A federal bankruptcy
judge in Alabama has ruled that the bank’s bankrupt holding company,
Colonial Bancgroup, could not be held liable for the shortfall in the
bank’s assets.
View full post on Law.com – Newswire
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