UWB was going after the entities that sold them BAD RMBs-to recover the money involved BEFORE the seizure. I can't believe Guy Gibson would have signed any agreement that would give up that kind of cash. Not to mention any other recoveries. That's business 101. OTS was the agency that placed UBW in receivership, not the FDIC. They inherited this mess, even though they didn't want it. The FDIC is going to destroy a pile of documents that relate to failed banks. Thing is they must wait ten years before they can do it. ( they say they do not have room to keep these records archived.) Supposedly depositors of UWB are still receiving dividends from some where that the FDIC is placing into the balance sheet. The depositors ( according to the FDIC ) have received about 87% of their money back! Comes at about 3 to 4% every two years. Expect an update the end of this month. I believe we are still waiting to recover $$$$$$ from The Royal Bank of Scotland settlement, and the LIBOR suit that is progress.
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