InvestorsHub Logo
Followers 73
Posts 8821
Boards Moderated 0
Alias Born 06/05/2014

Re: None

Friday, 07/25/2014 8:00:03 AM

Friday, July 25, 2014 8:00:03 AM

Post# of 729971
Termination of Receivership

Perhaps interesting:
http://www.fdic.gov/about/strategic/strategic/receivership.html

...
The FDIC seeks to terminate receiverships in an orderly and expeditious manner. Once the FDIC has completed the disposition of the receivership’s assets and has resolved all obligations, claims, and other legal impediments, the receivership is terminated, and a final distribution is made to its creditors. Receivership creditors may include secured creditors, unsecured creditors (including general trade creditors), subordinate debt holders, shareholders of the institution, uninsured depositors, and the DIF (as subrogee). The FDIC is often the largest creditor of the receivership.
...



Here for the Glasgow Savings Bank on April 2014:

https://www.federalregister.gov/articles/2014/04/10/2014-07996/notice-to-all-interested-parties-of-the-termination-of-the-receivership-of-10449-glasgow-savings

...
The liquidation of the receivership assets has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors.
...



If the FDIC-R still holds assets belonging to WMBfsb or other subs, then Escrow holders could be very happy one day...

Edit:
Another find:


http://www.fdic.gov/about/strategic/performance/rcvrship.html

...
Following the resolution of receivership claims, disposition of most assets, payment of eligible creditor claims, and allocation of any other funds on behalf of the receivership, the FDIC terminates the receivership. This involves preparation of final accounting statements and can require judicial confirmation that the obligations of the FDIC as receiver have been met.
...

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent COOP News