EOS Preferred Corp Series D Pfd (fka EOSPN)

[Enterprising Investor]

LEHMQ Disclosure Statement for Third Amended Joint Plan does state:

LBHI agreed to take steps as necessary to maintain the Banks’ capital at certain levels and to sell Aurora Bank and to sell or wind-down Woodlands prior to March 2012. If sales cannot be completed by that date, LBHI will within such period complete the dissolution and wind-down of the Banks by purchasing their respective remaining assets.

The plan was dated 8/31/11. Shortly thereafter, issues in Europe began ramping up. It would not surprise me to see a little latitude being given to complete a sale versus the start of a liquidation of the banks.

Liquidation of Aurora Bank FSB could also entail selling the bank in pieces.