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FCA filed for chapter 11 bankruptcy the next day. (In February 1989, it was changed to a chapter 7 liquidation.) The thrift was split into a good bank and bad bank, with New West Federal Savings bank as the bad bank. At the time it had $30 billion in assets and was one of the largest thrifts in the United States. [citation needed]
Chapter 11 bankruptcy and liquidation Mortgage lender January 29, 2007: American Freedom Mortgage: Chapter 11 bankruptcy and liquidation Mortgage lender February 21, 2007: First Merchant Bank: withdrawal of the concession Offshore bank [1] April 2, 2007: New Century: Chapter 11 bankruptcy and liquidation Mortgage lender [2] August 6, 2007 ...
A list of companies, governmental and quasi-governmental agencies (government-sponsored enterprises), and/or non-profit organizations involved in the various economic and financial crises of 2007–2008.
Lehman Brothers' financial strategy in 2003 was to invest heavily in mortgage debt, in markets which were being deregulated from consumer protection by the US government. Losses mounted, and Lehman Brothers was forced to file for Chapter 11 bankruptcy after the US government refused to extend a loan. The collapse triggered a global financial ...
Perhaps best known for its late-night informercials, the at-home gym equipment maker filed for bankruptcy in March. It emerged from Chapter 11 a few months later, signing a deal with a Taiwan ...
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
A clash between BlackRock and the FDIC over the money manager’s holdings of US banks will play out in the waning days of President Joe Biden’s administration.
Joann, an 82-year-old fabric and craft retailer, announced it has filed for Chapter 11 bankruptcy for a second time within a year due to financial and inventory issues. The company originally ...