Charterbank assumes all of the deposits of McIntosh Commercial Bank

On Friday, the Georgia Department of Banking and Finance closed McIntosh Commercial Bank, headquartered in Carrollton, Georgia, and the FDIC was named receiver.

Filed under:
USA, Georgia, Banking, Insolvency & Restructuring, Alston & Bird LLP, Commercial bank, Federal Deposit Insurance Corporation (USA)
Authors:
Lawanna Kimbro
Location:
USA
Firm:
Alston & Bird LLP
Bank of the Ozarks assumes all of the deposits of Unity National Bank

On Friday, the OCC closed Unity National Bank, headquartered in Cartersville, Georgia, and the FDIC was named receiver.

Filed under:
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Commercial bank, Federal Deposit Insurance Corporation (USA)
Authors:
Lawanna Kimbro
Location:
USA
Firm:
Alston & Bird LLP
Community & Southern Bank assumes all of the deposits of First National Bank of Georgia

On Friday, the OCC closed First National Bank of Georgia , headquartered in Carrollton, Georgia, and the FDIC was named receiver.

Filed under:
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Commercial bank, Federal Deposit Insurance Corporation (USA)
Authors:
Lawanna Kimbro
Location:
USA
Firm:
Alston & Bird LLP
District Court denies distressed funds the right to vote on bankruptcy plan

The US District Court for the Western District of Washington (the "District Court") recently affirmed a bankruptcy court decision that prohibited a transferee of a secured lender's interest in a loan from voting on a debtor's plan of reorganization on the grounds that such transferee, a distressed debt investor, was not an Eligible Assignee under the applicable loan agreement.Meridian Sunrise Village, LLC v. NB Distressed Debt Investment Fund Ltd., et al., No. 13-5503 (W.D. Wash. March 6, 2014) (In re Meridian Sunrise Village, LLC).

Background

Filed under:
USA, Washington, Banking, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Commercial bank, Interest, Bank of America, United States bankruptcy court
Authors:
Craig A. Barbarosh , Karen B. Dine , Darius J. Goldman
Location:
USA
Firm:
Katten Muchin Rosenman LLP