TITLE

Treasury's Grip on Public Purse Proves Loose in Tarp Bankruptcies

AUTHOR(S)
Browdie, Brian; Horwitz, Jeff
PUB. DATE
March 2013
SOURCE
American Banker;3/27/2013, Vol. 178 Issue 47, p19
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses First Place Financial's bankruptcy plan that the Ohio banking company proposed in federal bankruptcy court in December 2012. The article notes the plan was to partially repay private creditors, eliminate its Troubled Asset Relief Program bailout, and reorganize the company under new private owners. It also notes First Place's the Treasury department and non-government creditors opposed the plan. The typical bank-failure and strategic bankruptcy processes are noted.
ACCESSION #
86435662

 

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