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Midland States Bank assumes all of the deposits of WestBridge Bank and trust company

On Friday, the Missouri Division of Finance closed WestBridge Bank, headquartered in Chesterfield, Missouri, and appointed the FDIC as receiver.

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Federal Deposit Insurance Corporation (USA)
Fannie Mae and Freddie Mac react to apparent defects in foreclosure procedures

Yesterday, following announcements from Ally Financial and JP Morgan Chase of temporary suspensions of foreclosure efforts in certain states, Fannie Mae issued a statement yes

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Mortgage loan, Foreclosure, Capital punishment, JPMorgan Chase, Bank of America, Ally Financial, Federal Housing Finance Agency
European Commission temporarily approves additional state aid to Hypo Real Estate

Yesterday, the European Commission announced that it was termporarily approving, under E.U.

European Union, Germany, Banking, Insolvency & Restructuring, Trade & Customs, Alston & Bird LLP, Liquidation, State aid, European Commission
European Commission approves restructuring of Parex

Today, the European Commission announced its approval, under EU State Aid rules, of the restructuring of Latvian bank, Parex, which was partially nationalized in November 2008.

European Union, Latvia, Banking, Insolvency & Restructuring, Trade & Customs, Alston & Bird LLP, Shareholder, Subsidy, Subordinated debt, European Commission
FHFA proposes rules on GSE conservatorships and receiverships

The Federal Housing Finance Agency (FHFA) has proposed new rules to "codify the terms of conservatorship and receivership operations for Fannie Mae, Freddie Mac and the Federal Home Loan Banks," as required by the Housing and Economic Recovery Act of 2008.

USA, Insolvency & Restructuring, Alston & Bird LLP, Shareholder, Breach of contract, Interest, Liability (financial accounting), Federal Deposit Insurance Corporation (USA), Federal Housing Finance Agency, American Recovery and Reinvestment Act 2009 (USA)