Federal Deposit Insurance Corporation January 7, 2005 – Federal Register Recent Federal Regulation Documents
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Determination of Insufficient Assets To Satisfy All Claims of Financial Institution in Receivership
The Federal Deposit Insurance Corporation (FDIC) has determined that the proceeds that can be realized from the liquidation of assets of the receivership listed in SUPPLEMENTARY INFORMATION are insufficient to wholly satisfy the priority claims of depositors against the receivership estate. Therefore, upon satisfaction of secured claims, depositor claims, and claims which have priority over depositors under applicable law, no amount will remain or will be recovered sufficient to allow a dividend, distribution, or payment to any creditor of lesser priority, including but not limited to claims of general creditors. Any such claims are hereby determined to be worthless.
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