Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership, 18551 [2011-7796]
Download as PDF
Federal Register / Vol. 76, No. 64 / Monday, April 4, 2011 / Notices
Emcdonald on DSK2BSOYB1PROD with NOTICES
Number of Respondents and
Responses: 200 respondents; 280
responses.
Estimated Time Per Response: 4
hours.
Frequency of Response: On occasion
reporting requirement and
recordkeeping requirement.
Obligation to Respond: Required to
obtain or retain benefits. Statutory
authority for this information collection
is contained in 47 U.S.C. 154, 302 and
303.
Total Annual Burden: 1,120 hours.
Total Annual Cost: $18,000.
Privacy Act Impact Assessment: N/A.
Nature and Extent of Confidentiality:
Applicants may request that any
information supplied be withheld from
public inspection pursuant to 47 CFR
0.459 of the Commission’s rules. This
request must be justified under 47 CFR
0.447 of the Commission’s rules.
Needs and Uses: The Commission
will submit this expiring collection to
the Office of Management and Budget
(OMB) after this comment period to
obtain the three year clearance from
them. There is no change in the
Commission’s burden hour estimate or
annual cost estimate. The Commission
is seeking OMB approval for an
extension (no change in the reporting
and/or recordkeeping requirements).
Part 5 allows for operations not
covered under other FCC rule parts,
such as research and development,
testing prior to equipment
authorization, and limited market
studies of experimental services/
products. Applicants are generally
electronic equipment manufacturers.
Applicants who apply for a FCC license
to operate a new or modified
experimental radio station are required
to complete and file FCC Form 442.
The FCC will use the information to
determine if the applicant is eligible for
an experimental license, to comply with
the requirements of Part 5 of the
Commission’s rules and if the proposed
operation will cause interference to
existing operations.
Federal Communications Commission.
Gloria Miles,
Federal Register Liaison,
Office of the Secretary,
Office of Managing Director.
[FR Doc. 2011–7909 Filed 4–1–11; 8:45 am]
BILLING CODE 6712–01–P
VerDate Mar<15>2010
18:47 Apr 01, 2011
Jkt 223001
FEDERAL DEPOSIT INSURANCE
CORPORATION
Determination of Insufficient Assets To
Satisfy Claims Against Financial
Institution in Receivership
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice.
AGENCY:
The FDIC has determined that
insufficient assets exist in the
receivership of United Commercial
Bank, San Francisco, California, to make
any distribution to general unsecured
claims, and therefore such claims will
recover nothing and have no value.
DATES: The FDIC made its determination
on March 24, 2011.
FOR FURTHER INFORMATION CONTACT: If
you have questions regarding this
notice, you may contact an FDIC Claims
Agent at (949) 208–6200. Written
correspondence may also be mailed to
FDIC as Receiver of United Commercial
Bank, Attention: Claims Agent, 40
Pacifica, 8th Floor, Irvine, California
92618.
SUMMARY:
On
November 6, 2009, United Commercial
Bank, San Francisco, California, (FIN
#10147) was closed by the California
Department of Financial Institutions,
and the Federal Deposit Insurance
Corporation (‘‘FDIC’’) was appointed as
its receiver (‘‘Receiver’’). In complying
with its statutory duty to resolve the
institution in the method that is least
costly to the deposit insurance fund, see
12 U.S.C. 1823(c)(4), the FDIC facilitated
a transaction with East West Bank,
Pasadena, California, to acquire the
deposits and most of the assets of the
failed institution.
Section 11(d)(11)(A) of the Federal
Deposit Insurance Act, 12 U.S.C.
1821(d)(11)(A), sets forth the order of
priority for distribution of amounts
realized from the liquidation or other
resolution of an insured depository
institution to pay claims. Under the
statutory order of priority,
administrative expenses and deposit
liabilities must be paid in full before
any distribution may be made to general
unsecured creditors or any lower
priority claims.
As of December 31, 2010, the value of
assets available for distribution by the
Receiver, together with all expected
recovery sources, including recoveries
on claims against directors, officers, and
other professionals, claims in
bankruptcy, and refunds of Federal and
State taxes, was $2,555,907,701. As of
the same date, administrative expenses
and depositor liabilities equaled
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00042
Fmt 4703
Sfmt 4703
18551
$4,889,458,384, exceeding available
assets by $2,333,550,683. Accordingly,
the FDIC has determined that
insufficient assets exist to make any
distribution on general unsecured
creditor claims (and any lower priority
claims) and therefore all such claims,
asserted or unasserted, will recover
nothing and have no value.
Dated: March 29, 2011.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2011–7796 Filed 4–1–11; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Determination of Insufficient Assets To
Satisfy Claims Against Financial
Institution in Receivership
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice.
AGENCY:
The FDIC has determined that
insufficient assets exist in the
receivership of Miami Valley Bank,
Lakeview, Ohio, to make any
distribution to general unsecured
claims, and therefore such claims will
recover nothing and have no value.
DATES: The FDIC made its determination
on March 28, 2011.
FOR FURTHER INFORMATION CONTACT: If
you have questions regarding this
notice, you may contact an FDIC Claims
Agent at (972) 761–8677. Written
correspondence may also be mailed to
FDIC as Receiver of Miami Valley Bank,
Attention: Claims Agent, 1601 Bryan
Street, Dallas, Texas 75201.
SUPPLEMENTARY INFORMATION:
On October 4, 2007, Miami Valley
Bank, Lakeview, Ohio, (FIN #10002)
was closed by the Department of
Financial Institutions for the State of
Ohio, and the Federal Deposit Insurance
Corporation (‘‘FDIC’’) was appointed as
its receiver (‘‘Receiver’’). In complying
with its statutory duty to resolve the
institution in the method that is least
costly to the deposit insurance fund, see
12 U.S.C. 1823(c)(4)), the FDIC
facilitated a transaction with The
Citizens Banking Company, Sandusky,
Ohio, to assume the insured deposits of
the failed institution, while retaining
the remaining assets of the bank for later
disposition.
Section 11(d)(11)(A) of the Federal
Deposit Insurance Act, 12 U.S.C.
1821(d)(11)(A), sets forth the order of
priority for distribution of amounts
realized from the liquidation or other
resolution of an insured depository
SUMMARY:
E:\FR\FM\04APN1.SGM
04APN1
Agencies
[Federal Register Volume 76, Number 64 (Monday, April 4, 2011)]
[Notices]
[Page 18551]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-7796]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
Determination of Insufficient Assets To Satisfy Claims Against
Financial Institution in Receivership
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The FDIC has determined that insufficient assets exist in the
receivership of United Commercial Bank, San Francisco, California, to
make any distribution to general unsecured claims, and therefore such
claims will recover nothing and have no value.
DATES: The FDIC made its determination on March 24, 2011.
FOR FURTHER INFORMATION CONTACT: If you have questions regarding this
notice, you may contact an FDIC Claims Agent at (949) 208-6200. Written
correspondence may also be mailed to FDIC as Receiver of United
Commercial Bank, Attention: Claims Agent, 40 Pacifica, 8th Floor,
Irvine, California 92618.
SUPPLEMENTARY INFORMATION: On November 6, 2009, United Commercial Bank,
San Francisco, California, (FIN 10147) was closed by the
California Department of Financial Institutions, and the Federal
Deposit Insurance Corporation (``FDIC'') was appointed as its receiver
(``Receiver''). In complying with its statutory duty to resolve the
institution in the method that is least costly to the deposit insurance
fund, see 12 U.S.C. 1823(c)(4), the FDIC facilitated a transaction with
East West Bank, Pasadena, California, to acquire the deposits and most
of the assets of the failed institution.
Section 11(d)(11)(A) of the Federal Deposit Insurance Act, 12
U.S.C. 1821(d)(11)(A), sets forth the order of priority for
distribution of amounts realized from the liquidation or other
resolution of an insured depository institution to pay claims. Under
the statutory order of priority, administrative expenses and deposit
liabilities must be paid in full before any distribution may be made to
general unsecured creditors or any lower priority claims.
As of December 31, 2010, the value of assets available for
distribution by the Receiver, together with all expected recovery
sources, including recoveries on claims against directors, officers,
and other professionals, claims in bankruptcy, and refunds of Federal
and State taxes, was $2,555,907,701. As of the same date,
administrative expenses and depositor liabilities equaled
$4,889,458,384, exceeding available assets by $2,333,550,683.
Accordingly, the FDIC has determined that insufficient assets exist to
make any distribution on general unsecured creditor claims (and any
lower priority claims) and therefore all such claims, asserted or
unasserted, will recover nothing and have no value.
Dated: March 29, 2011.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2011-7796 Filed 4-1-11; 8:45 am]
BILLING CODE 6714-01-P