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

Browdie, Brian; Horwitz, Jeff
March 2013
American Banker;3/27/2013, Vol. 178 Issue 47, p19
Trade Publication
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.


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