Recent Developments
Recent Developments
Recent Developments
Global—On 26 October 2012, the U.S. Court of Appeals for the Second Circuit, in a ruling that may impact sovereign debt restructurings, upheld a lower court order enjoining Argentina from making payments on restructured defaulted debt without making comparable payments to bondholders who did not participate in the restructuring.
Recent Developments
Recent Developments
On Friday, the OCC closed Unity National Bank, headquartered in Cartersville, Georgia, and the FDIC was named receiver.
On Friday, the Georgia Department of Banking and Finance closed McIntosh Commercial Bank, headquartered in Carrollton, Georgia, and the FDIC was named receiver.
On Friday, OTS closed Key West Bank, headquartered in Key West, Florida, and the FDIC was named receiver.
On Friday, the Arizona Department of Financial Institutions closed Desert Hills Bank, headquartered in Phoenix, Arizona, and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with New York Community Bancorp, headquartered in Westbury, NY to assume all of the deposits of Desert Hills Bank.