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In July 1998, an anonymous French whistle-blower told the California Insurance Department that Crédit Lyonnais was the real buyer of the insurance company and controlled it through secret agreements. In early 1999, the California Insurance Department sued the bank and other parties, alleging fraud and seeking $2 billion in restitution. [4]
First Federal Bank of California: OneWest Bank, California Savings and loan association $ 5 × 10 ^ 9 [73] December 18, 2009: Philippine American Life and General Insurance Company: American International Assurance: Insurance company [74] February 24, 2010: Chesham Building Society: Skipton Building Society: Building Society £ 230,000,000 [75 ...
Rebranded MCI, it emerged from bankruptcy in 2004 and the assets were bought by Verizon. Parmalat: Italy: 24 Dec 2003: Food: The company's finance directors concealed large debts. MG Rover Group: United Kingdom: 15 April 2005: Automobiles: After diminishing demand, and getting a £6.5m loan from the UK government in April 2005, the company went ...
For many, the cost of life-saving care is too high, and medical debt is the No. 1 cause of bankruptcy in America.That is to say nothing of the emotional labor of navigating the complex system ...
Merced Property & Casualty policyholders, here's what to do next.
Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at ...
Company Deposits and/or branches taken by Type of company bankrupt or closed Ref. January 25, 2008: Douglass National Bank, Kansas City, Missouri: Liberty Bank and Trust Company, New Orleans, Louisiana [8] March 7, 2008: Hume Bank, Hume, Missouri: Security Bank, Rich Hill, Missouri [9] May 9, 2008: ANB Financial, Bentonville, Arkansas
"State Farm to pull out of 72,000 California insurance policies," blared a Reinsurance News headline. State Farm provides nearly 21 percent of state homeowner policies, so this is big news ...