Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership, 70779 [2012-28761]

Download as PDF Federal Register / Vol. 77, No. 228 / Tuesday, November 27, 2012 / Notices of its request for renewal to OMB for review. Comments must be submitted on or before December 27, 2012. ADDRESSES: Interested parties are invited to submit written comments to the FDIC by any of the following methods: • https://www.FDIC.gov/regulations/ laws/federal/notices.html. • Email: comments@fdic.gov Include the name of the collection in the subject line of the message. • Mail: Gary A. Kuiper (202.898.3877), Counsel, Room NYA– 5046, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 17th Street Building (located on F Street), on business days between 7:00 a.m. and 5:00 p.m. All comments should refer to the relevant OMB control number. A copy of the comments may also be submitted to the OMB desk officer for the FDIC: Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Gary A. Kuiper, at the FDIC address above. SUPPLEMENTARY INFORMATION: Proposal to renew the following currentlyapproved collection of information: Title: Procedures for Monitoring Bank Protection Act Compliance. OMB Number: 3064–0095. Affected Public: State nonmember banks. Estimated Number of Respondents: 4,700. Estimated burden per respondent: 0.5 hours. Estimated Total Annual Burden Hours: 2,350 hours. General Description of Collection: The collection requires insured state nonmember banks to comply with the Bank Protection Act and to review bank security programs. DATES: wreier-aviles on DSK5TPTVN1PROD with Request for Comment Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use VerDate Mar<15>2010 15:05 Nov 26, 2012 Jkt 229001 of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, this 21st day of November 2012. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2012–28740 Filed 11–26–12; 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 Darby Bank and Trust Co., Vidalia, Georgia, 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 November 11, 2012. 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 Darby Bank and Trust Co., Attention: Claims Agent, 8800 Baymeadows Way West, Jacksonville, FL 32256. SUPPLEMENTARY INFORMATION: On November 12, 2010, Darby Bank and Trust Co., Vidalia, Georgia, (FIN #10312) was closed by the Georgia Department of Banking and Finance, 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 Ameris Bank, Moultrie, Georgia, to acquire all of 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 SUMMARY: PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 70779 unsecured creditors or any lower priority claims. As of September 30, 2012, the maximum value of assets that could be available for distribution by the Receiver, together with maximum possible recoveries on professional liability claims against directors, officers, and other professionals, as well as potential tax refunds, was $125,488,526. As of the same date, administrative expenses and depositor liabilities equaled $173,303,177, exceeding available assets and potential recoveries by at least $47,814,651. 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: November 21, 2012. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2012–28761 Filed 11–26–12; 8:45 am] BILLING CODE 6714–01–P FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Senior Executive Service Performance Review Board Federal Retirement Thrift Investment Board. ACTION: Notice. AGENCY: This notice announces the appointment of the members of the Senior Executive Service Performance Review Boards for the Federal Retirement Thrift Investment Board. The purpose of the Performance Review Boards is to view and make recommendations concerning proposed performance appraisals, ratings, and bonuses, and other appropriate personnel actions for members of the Senior Executive Service. DATES: This notice is effective November 27, 2012. FOR FURTHER INFORMATION CONTACT: Kelly Powell, HR Specialist, at 202– 942–1681. SUPPLEMENTARY INFORMATION: Title 5, U.S. Code, 4314(c)(4), requires that the appointment of Performance Review Board members be published in the Federal Register before Board service commences. The following persons will serve on the Federal Retirement Thrift Investment Board’s Performance Review Boards which will oversee the evaluation of the performance appraisals of the Senior Executive Service members of the Federal SUMMARY: E:\FR\FM\27NON1.SGM 27NON1

Agencies

[Federal Register Volume 77, Number 228 (Tuesday, November 27, 2012)]
[Notices]
[Page 70779]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28761]


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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.

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SUMMARY: The FDIC has determined that insufficient assets exist in the 
receivership of Darby Bank and Trust Co., Vidalia, Georgia, 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 November 11, 2012.

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 Darby Bank and Trust Co., Attention: 
Claims Agent, 8800 Baymeadows Way West, Jacksonville, FL 32256.

SUPPLEMENTARY INFORMATION: On November 12, 2010, Darby Bank and Trust 
Co., Vidalia, Georgia, (FIN 10312) was closed by the Georgia 
Department of Banking and Finance, 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 Ameris 
Bank, Moultrie, Georgia, to acquire all of 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 September 30, 2012, the maximum value of assets that could be 
available for distribution by the Receiver, together with maximum 
possible recoveries on professional liability claims against directors, 
officers, and other professionals, as well as potential tax refunds, 
was $125,488,526. As of the same date, administrative expenses and 
depositor liabilities equaled $173,303,177, exceeding available assets 
and potential recoveries by at least $47,814,651. 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: November 21, 2012.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2012-28761 Filed 11-26-12; 8:45 am]
BILLING CODE 6714-01-P
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