Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership, 50733-50734 [2011-20767]

Download as PDF Federal Register / Vol. 76, No. 158 / Tuesday, August 16, 2011 / Notices application may also be purchased from the Commission’s duplicating contractor, Best Copy and Printing, Inc., 445 12th Street, SW., Room CY–B402, Washington, DC, 20554, telephone 1– 800–378–3160 or https:// www.BCPIWEB.com. Federal Communications Commission. James D. Bradshaw, Deputy Chief, Audio Division, Media Bureau. [FR Doc. 2011–20828 Filed 8–15–11; 8:45 am] BILLING CODE 6712–01–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 R–G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico, 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 August 2, 2011. FOR FURTHER INFORMATION CONTACT: If you have questions regarding this notice, you may contact an FDIC Claims Agent at (904) 256–3925. Written correspondence may also be mailed to FDIC as Receiver of R–G Premier Bank of Puerto Rico, Attention: Claims Agent, 7777 Baymeadows Way West, Jacksonville, Florida 32256. SUPPLEMENTARY INFORMATION: On April 30, 2010, R–G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico, (FIN #10230) was closed by the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico (‘‘OCFI’’), 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 Scotiabank de Puerto Rico, San Juan, Puerto Rico, to acquire the deposits and most of the assets of the failed institution. Section 11(d)(11)(A) of the FDI 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. emcdonald on DSK2BSOYB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 18:07 Aug 15, 2011 Jkt 223001 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 May 31, 2011, the value of assets available for distribution by the Receiver, together with maximum possible recoveries on claims against directors, officers, and other professionals, and claims in bankruptcy was $3,321,421,322. As of the same date, administrative expenses and depositor liabilities equaled $4,671,704,953, exceeding available assets and potential recoveries by $1,350,283,631. 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: August 11, 2011. Robert E. Feldman, Executive Secretary. [FR Doc. 2011–20765 Filed 8–15–11; 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 Eurobank, San Juan, Puerto Rico, to make any distribution on general unsecured claims, and therefore such claims will recover nothing and have no value. DATES: The FDIC made its determination on August 2, 2011. FOR FURTHER INFORMATION CONTACT: If you have questions regarding this notice, you may contact an FDIC Claims Agent at (904) 256–3925. Written correspondence may also be mailed to FDIC as Receiver of Eurobank, Attention: Claims Agent, 7777 Baymeadows Way West, Jacksonville, Florida 32256. SUPPLEMENTARY INFORMATION: On April 30, 2010, Eurobank, San Juan, Puerto Rico, (FIN #10229) was closed by the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico (‘‘OCFI’’), and the Federal Deposit Insurance Corporation (‘‘FDIC’’) was appointed as its receiver SUMMARY: PO 00000 Frm 00019 Fmt 4703 Sfmt 4703 50733 (‘‘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 Oriental Bank and Trust, San Juan, Puerto Rico, to acquire the deposits and most of the assets of the failed institution. Section 11(d)(11)(A) of the FDI 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 May 31, 2011, the value of assets available for distribution by the Receiver, together with anticipated recoveries on claims against directors, officers, and other professionals was $742,676,348. As of the same date, administrative expenses and depositor liabilities equaled $1,466,183,675, exceeding available assets and potential recoveries by $723,507,327. 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: August 11, 2011. Robert E. Feldman, Executive Secretary. [FR Doc. 2011–20766 Filed 8–15–11; 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 Westernbank Puerto Rico, Mayaguez, Puerto Rico, 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 August 2, 2011. FOR FURTHER INFORMATION CONTACT: If you have questions regarding this notice, you may contact an FDIC Claims SUMMARY: E:\FR\FM\16AUN1.SGM 16AUN1 50734 Federal Register / Vol. 76, No. 158 / Tuesday, August 16, 2011 / Notices Agent at (904) 256–3925. Written correspondence may also be mailed to FDIC as Receiver of Westernbank Puerto Rico, Attention: Claims Agent, 7777 Baymeadows Way West, Jacksonville, Florida 32256. On April 30, 2010, Westernbank Puerto Rico, Mayaguez, Puerto Rico, (FIN #10231) was closed by the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico (‘‘OCFI’’), 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 Banco Popular de Puerto Rico, San Juan, Puerto Rico, to acquire the deposits and most of the assets of the failed institution. Section 11(d)(11)(A) of the FDI 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 May 31, 2011, the value of assets available for distribution by the Receiver, together with anticipated recoveries on claims against directors, officers, and other professionals, and tax refunds was $4,673,843,188. As of the same date, administrative expenses and depositor liabilities equaled $8,031,697,095, exceeding available assets and potential recoveries by $3,357,853,907. 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. SUPPLEMENTARY INFORMATION: emcdonald on DSK2BSOYB1PROD with NOTICES Dated: August 11, 2011. Robert E. Feldman, Executive Secretary. [FR Doc. 2011–20767 Filed 8–15–11; 8:45 am] BILLING CODE 6714–01–P VerDate Mar<15>2010 18:07 Aug 15, 2011 Jkt 223001 DEPARTMENT OF HEALTH AND HUMAN SERVICES HIT Policy Committee Advisory Meeting; Notice of Meeting Office of the National Coordinator for Health Information Technology, HHS. ACTION: Notice of meeting. AGENCY: This notice announces a forthcoming meeting of a public advisory committee of the Office of the National Coordinator for Health Information Technology (ONC). The meeting will be open to the public. Name of Committee: HIT Policy Committee. General Function of the Committee: To provide recommendations to the National Coordinator on a policy framework for the development and adoption of a nationwide health information technology infrastructure that permits the electronic exchange and use of health information as is consistent with the Federal Health IT Strategic Plan and that includes recommendations on the areas in which standards, implementation specifications, and certification criteria are needed. Date and Time: The meeting will be held on September 14, 2011, from 10 a.m. to 3 p.m./Eastern Time. Location: Washington Marriott Hotel, 1221 22nd Street, NW., Washington, DC. For up-to-date information, go to the ONC Web site, https://healthit.hhs.gov. Contact Person: Judy Sparrow, Office of the National Coordinator, HHS, 330 C Street, SW., Washington, DC 20201, 202–205–4528, Fax: 202–690–6079, email: judy.sparrow@hhs.gov. Please call the contact person for up-to-date information on this meeting. A notice in the Federal Register about last minute modifications that impact a previously announced advisory committee meeting cannot always be published quickly enough to provide timely notice. Agenda: The committee will hear reports from its workgroups, including the Meaningful Use Workgroup, the Privacy & Security Tiger Team, the Enrollment Workgroup, and the Quality Measures Workgroup. ONC intends to make background material available to the public no later than two (2) business days prior to the meeting. If ONC is unable to post the background material on its Web site prior to the meeting, it will be made publicly available at the location of the advisory committee meeting, and the background material will be posted on ONC’s Web site after the meeting, at https://healthit.hhs.gov. Procedure: Interested persons may present data, information, or views, PO 00000 Frm 00020 Fmt 4703 Sfmt 4703 orally or in writing, on issues pending before the committee. Written submissions may be made to the contact person on or before September 9, 2011. Oral comments from the public will be scheduled between approximately 1 and 2 p.m. Time allotted for each presentation is limited to three minutes. If the number of speakers requesting to comment is greater than can be reasonably accommodated during the scheduled open public hearing session, ONC will take written comments after the meeting until close of business. Persons attending ONC’s advisory committee meetings are advised that the agency is not responsible for providing access to electrical outlets. ONC welcomes the attendance of the public at its advisory committee meetings. Seating is limited at the location, and ONC will make every effort to accommodate persons with physical disabilities or special needs. If you require special accommodations due to a disability, please contact Judy Sparrow at least seven (7) days in advance of the meeting. ONC is committed to the orderly conduct of its advisory committee meetings. Please visit our Web site at https://healthit.hhs.gov for procedures on public conduct during advisory committee meetings. Notice of this meeting is given under the Federal Advisory Committee Act (Pub. L. 92–463, 5 U.S.C., App. 2). Dated: August 8, 2011. Judith Sparrow, Federal Advisory Committee Director, Office of Programs and Coordination, Office of the National Coordinator for Health Information Technology. [FR Doc. 2011–20808 Filed 8–15–11; 8:45 am] BILLING CODE 4150–45–P DEPARTMENT OF HEALTH AND HUMAN SERVICES HIT Standards Committee Advisory Meeting; Notice of Meeting Office of the National Coordinator for Health Information Technology, HHS. ACTION: Notice of meeting. AGENCY: This notice announces a forthcoming meeting of a public advisory committee of the Office of the National Coordinator for Health Information Technology (ONC). The meeting will be open to the public. Name of Committee: HIT Standards Committee. General Function of the Committee: to provide recommendations to the National Coordinator on standards, E:\FR\FM\16AUN1.SGM 16AUN1

Agencies

[Federal Register Volume 76, Number 158 (Tuesday, August 16, 2011)]
[Notices]
[Pages 50733-50734]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-20767]


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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 Westernbank Puerto Rico, Mayaguez, Puerto Rico, 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 August 2, 2011.

FOR FURTHER INFORMATION CONTACT: If you have questions regarding this 
notice, you may contact an FDIC Claims

[[Page 50734]]

Agent at (904) 256-3925. Written correspondence may also be mailed to 
FDIC as Receiver of Westernbank Puerto Rico, Attention: Claims Agent, 
7777 Baymeadows Way West, Jacksonville, Florida 32256.

SUPPLEMENTARY INFORMATION: On April 30, 2010, Westernbank Puerto Rico, 
Mayaguez, Puerto Rico, (FIN 10231) was closed by the Office of 
the Commissioner of Financial Institutions of the Commonwealth of 
Puerto Rico (``OCFI''), 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 Banco Popular de 
Puerto Rico, San Juan, Puerto Rico, to acquire the deposits and most of 
the assets of the failed institution.
    Section 11(d)(11)(A) of the FDI 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 May 31, 2011, the value of assets available for distribution 
by the Receiver, together with anticipated recoveries on claims against 
directors, officers, and other professionals, and tax refunds was 
$4,673,843,188. As of the same date, administrative expenses and 
depositor liabilities equaled $8,031,697,095, exceeding available 
assets and potential recoveries by $3,357,853,907. 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: August 11, 2011.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2011-20767 Filed 8-15-11; 8:45 am]
BILLING CODE 6714-01-P
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