Anchor BanCorp Wisconsin Inc.(fka ABCWQ)

[56Chevy]

At the same time, in order to facilitate the recapitalization, the Holding Company announced that it has filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Wisconsin to implement a "pre-packaged" plan of reorganization to restructure the Holding Company and recapitalize its wholly-owned subsidiary, AnchorBank, fsb ("AnchorBank" or the "Bank").

Good catch on this news. Thank You. Anchor bank got its last minute miracle afterall!!

The BHC filed for bankruptcy to speed up the process of the recapitalization. This way the investors can infuse the badly needed money much faster.

This is very similar to another BHC that filed bankruptcy recently for the identical reason. In that situation it involved a non-public bank called Metropolitan National Bank.