The Second Circuit Court of Appeals has now weighed in on the Bankruptcy Code’s safe harbor provisions. In Enron Creditors Recovery Corp. v. Alfa, S.A.B. de C.V., Docket Nos. 09–5122, 09–5142, 2011 WL 2536101 (2d Cir. June 28, 2011), the Second Circuit Court of Appeals faced an issue of first impression—whether Section 546(e) of the Bankruptcy Code, which shields certain payments from avoidance actions in bankruptcy, extends to an issuer’s payment to redeem its commercial paper made before maturity.

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

On Friday, the Washington Department of Financial Institutions closed The Cowlitz Bank, headquartered in Longview, Washington and appointed the FDIC as receiver.

On Friday, the Office of Thrift Supervision closed Olde Cypress Community Bank, headquartered in Clewiston, Florida, and appointed the FDIC as receiver for the bank.

On Friday, the Minnesota Department of Commerce closed Pinehurst Bank, headquartered in Saint Paul, Minnesota. As receiver, the FDIC entered into a purchase agreement with Coulee Bank, headquartered in LaCrosse, Wisconsin, to assume all of the deposits of Pinehurst Bank.

Yesterday, the Washington Department of Financial Institutions closed Frontier Bank, headquartered in Everett, Washington, and appointed the FDIC receiver.

On Friday, the Office of the Comptroller of the Currency closed American National Bank, headquartered in Parma, Ohio, and the FDIC was named receiver.

On Friday, the Florida Office of Financial Regulation closed Marco Community Bank, headquartered in Marco Island, Florida, and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with Mutual of Omaha Bank., headquartered in Omaha, Nebraska, to assume all of the deposits of Marco Community Bank.

Yesterday, the FDIC announced that it had entered into a purchase and assumption agreement to assume the assets and deposits of the recently created Independent Bankers’ Bank Bridge Bank (IBBBB). IBBBB was created by the FDIC on December 18, 2009, to take over the operations of The Independent Bankers’ Bank, headquartered in Springfield, Illinois.

On Monday, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released a report entitled “Factors Affecting Efforts to Limit Payments to AIG Counterparties.” The report examines certain transactions related to the rescue of AIG, including the creation of Maiden Lane III, a limited liability company formed last year to facilitate the purchase of assets from counterparties of AIG Financia