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The suit at issue grew from the 2009 collapse of Montgomery, Alabama-based Colonial Bank, which had invested roughly $300 million in nine residential mortgage. Colonial Bank was sold to Branch.
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Whittle argued that BB&T’s maximum recovery in chapter 7 would have been $2.2 million, the amount of BB&T’s claim at the time of foreclosure. BFP v. Resolution Trust Corp. in BFP , a partnership formed for the purpose of buying a home defaulted on its mortgage payments, resulting in a foreclosure by the bank.
The Colonial BancGroup, Inc. We represent The Colonial BancGroup, Inc. (CBG) , the second largest savings and thrift failure ever. We represent CBG in litigation against the FDIC as receiver for Colonial Bank, CBG’s former banking subsidiary, and BB&T Corp. concerning ownership disputes over more than $650 million in assets.
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Under the FDIC’s receivership, Colonial Bank was sold to Branch Banking and Trust (BB&T) of Winston-Salem, North Carolina. Defendant-appellees named in the decision included First Horizon Asset Securities, , Credit Suisse Securities, Deutsche Bank Securities, ftn financial securities, HSBC Securities, RBS Securities, UBS Securities and Wells Fargo Asset Securities.
“2013 has started with a bang in Northern virginia real estate. fire department and Office of the Sheriff at the 27th Annual Valor Awards held June 13 at the Crowne Plaza Hotel. Colonial Republican.
Ex-Parent of Colonial Bank Sues BB&T for Return of $300 Million Going Concern – 132/135 – When accounting goes unaccounted for – With Colonial Bank officially R.I.P. and torn to shreds (North Carolina-based BB&T has picked up the branches, the garbage will likely be marked down and sold off to whichever sucker the FDIC can find) this past week, it might be a good idea to look at the.
Yeung lied about accounts receivable and inventory to secure an $11 million line of credit, resulting in losses to East West Bank of more than $9 million. East West Bank received over $306 million in TARP funds and UCBH, the parent company of UCB, received $298.7 million in TARP funds prior to its failure in 2009 – less than one year after.
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