Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership, 56228 [2013-22201]

Download as PDF 56228 Federal Register / Vol. 78, No. 177 / Thursday, September 12, 2013 / Notices Comments may be submitted through Regulations.gov at WWW.REGULATIONS.GOV. To submit a comment, enter EIB–2013–0045 under the heading ‘‘Enter Keyword or ID’’ and select Search. Follow the instructions provided at the Submit a Comment screen. Please include your name, company name (if any) and EIB–2013– 0045 on any attached document. Reference: AP088162XX. Purpose and Use: Brief description of the purpose of the transaction: To support the export of U.S.manufactured commercial aircraft to China. Brief non-proprietary description of the anticipated use of the items being exported: To provide airline service in China and between China and various regional and international destinations. To the extent that Ex-Im Bank is reasonably aware, the item(s) being exported may be used to produce exports or provide services in competition with the exportation of goods or provision of services by a United States industry. Parties: ADDRESSES: Principal Supplier: The Boeing Company Obligor: China Southern Airlines Guarantor(s): N/A Description of Items Being Exported: Boeing 787 aircraft and possibly other wide-body, long haul-aircraft. tkelley on DSK3SPTVN1PROD with NOTICES Information on Decision: Information on the final decision for this transaction will be available in the ‘‘Summary Minutes of Meetings of Board of Directors’’ on https://exim.gov/ newsandevents/boardmeetings/board/ Confidential Information: Please note that this notice does not include confidential or proprietary business information; information which, if disclosed, would violate the Trade Secrets Act; or information which would jeopardize jobs in the United States by supplying information that competitors could use to compete with companies in the United States. Cristopolis Dieguez, Program Specialist, Office of the General Counsel. [FR Doc. 2013–22192 Filed 9–11–13; 8:45 am] BILLING CODE 6690–01–P VerDate Mar<15>2010 19:54 Sep 11, 2013 Jkt 229001 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 Hillcrest Bank, Overland Park, Kansas, 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 29, 2013. 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 Hillcrest Bank, Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 75201. SUPPLEMENTARY INFORMATION: On October 22, 2010, Hillcrest Bank, Overland Park, Kansas, (FIN #10302) was closed by the Office of the State Bank Commissioner of Kansas, 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 Hillcrest Bank, National Association, (‘‘Hillcrest Bank, N.A.’’), Overland Park, Kansas, to assume all of the deposits (excluding brokered 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 June 30, 2013, the maximum value of assets that could be available for distribution by the Receiver, together with maximum possible recoveries on tax refund claims was $126,154,744. As of the same date, administrative expenses and depositor liabilities equaled $391,321,173, exceeding available assets and potential recoveries by $265,166,429. Accordingly, the FDIC has determined that insufficient assets SUMMARY: PO 00000 Frm 00027 Fmt 4703 Sfmt 9990 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: September 9, 2013. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–22201 Filed 9–11–13; 8:45 am] BILLING CODE 6714–01–P FEDERAL DEPOSIT INSURANCE CORPORATION Sunshine Act Meeting Notice Pursuant to the provisions of the ‘‘Government in the Sunshine Act’’ (5 U.S.C. 552b), notice is hereby given that the Federal Deposit Insurance Corporation’s Board of Directors met in open session at 10:00 a.m. on Tuesday, September 10, 2013, to consider the following matters: SUMMARY AGENDA: Disposition of minutes of previous Board of Directors’ Meetings. Summary reports, status reports, reports of the Office of Inspector General, and reports of actions taken pursuant to authority delegated by the Board of Directors. DISCUSSION AGENDA: Memorandum and resolution re: Final Rule on Definition of Insured Deposit. In calling the meeting, the Board determined, on motion of Vice Chairman Thomas M. Hoenig, seconded by Director Jeremiah O. Norton (Appointive), concurred in by Director Thomas J. Curry (Comptroller of the Currency), Director Richard Cordray (Director, Consumer Financial Protection Bureau), and Chairman Martin J. Gruenberg, that Corporation business required its consideration of the matters on less than seven days’ notice to the public; and that no earlier notice of the meeting than that previously provided on September 5, 2013, was practicable. The meeting was held in the Board Room on the sixth floor of the FDIC Building located at 550 17th Street NW., Washington, DC. Dated: September 10, 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–22342 Filed 9–10–13; 4:15 pm] BILLING CODE P E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 78, Number 177 (Thursday, September 12, 2013)]
[Notices]
[Page 56228]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-22201]


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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 Hillcrest Bank, Overland Park, Kansas, 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 29, 2013.

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 Hillcrest 
Bank, Attention: Claims Agent, 1601 Bryan Street, Dallas, Texas 75201.

SUPPLEMENTARY INFORMATION: On October 22, 2010, Hillcrest Bank, 
Overland Park, Kansas, (FIN 10302) was closed by the Office of 
the State Bank Commissioner of Kansas, 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 Hillcrest Bank, National Association, (``Hillcrest Bank, N.A.''), 
Overland Park, Kansas, to assume all of the deposits (excluding 
brokered 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 June 30, 2013, the maximum value of assets that could be 
available for distribution by the Receiver, together with maximum 
possible recoveries on tax refund claims was $126,154,744. As of the 
same date, administrative expenses and depositor liabilities equaled 
$391,321,173, exceeding available assets and potential recoveries by 
$265,166,429. 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: September 9, 2013.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013-22201 Filed 9-11-13; 8:45 am]
BILLING CODE 6714-01-P
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