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.
The return of subprime lending As mortgage interest rates rise and fewer prime borrowers are in the market to refinance, lenders are starting to loosen credit standards again, years after the housing crisis sparked a flight to quality. But amid growing compliance requirements and increased regulatory scrutiny, will this time be different?
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 FDIC, which took over Colonial Bank in August 2009 and sold most of its holdings to BB&T Corp. BBT, +1.97% has appealed that ruling to the U.S. District Court.
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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Over $6 billion has been drained from the FDIC insurance fund in 2 weeks, FDIC is now vitually broke. The banking system has big problems. guaranty Bank is the eighth largest bank failure in US history. Last week Colonial Bank was the sixth largest. The stock market doesn’t seem to care, closing at the 2009 highs.
port land for $300 million to a developer comes as a surprise to the city manager. That seems to go against the anti-growth goals oftheVNC, Black said, especially with the amount of intensive develop-ment needed to justify a $300 million land purchase a dol-lar amount that Black doesn’t think is based upon reality. "There is no entity that’s
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