FDIC Rejection of Liquidation Plan posted. Matrix has a new posting on pacer tonight. 15+ pages. I sent the pdf to deadmau5 for posting if he's able to.
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OBJECTION OF THE FEDERAL DEPOSIT INSURANCE CORPORATION AS RECEIVER TO DISCLOSURE STATEMENT FOR DEBTORS’ PLANS OF LIQUIDATION DATED NOVEMBER 6, 2012
The Federal Deposit Insurance Corporation, in its capacity as receiver for United Western Bank of Denver, Colorado (the “FDIC-Receiver”), by and through its undersigned counsel, hereby objects to approval of the Disclosure Statement for Debtors’ Plans of Liquidation Dated November 6, 2012 [Docket No. 213]1 (the “Disclosure Statement”) proposed by United Western Bancorp, Inc. (“UWBK”), Matrix Bancorp Trading, Inc. (“MBT”) and Matrix Funding Corp. (“MF,” and together with UWBK and MBT the “Debtors”). In support of its objection, the FDIC-Receiver states as follows:
I. INTRODUCTION
The Disclosure Statement should not be approved because it fails to contain sufficient information to enable the FDIC-Receiver and the Debtors’ creditors to make an informed judgment about the Plans (defined below) proposed by the Debtors. As is described in more detail below, on nearly every important factor that is likely to influence the decision of creditors on whether to support the Plans, the Disclosure Statement fails to provide basic information. Therefore, the Disclosure Statement should not be approved in its present form.
