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In re East End Development, LLC

Alston & Bird LLP
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USA
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June 10 2013

In In re East End Development, LLC, 2013 WL 1820182 (Bankr. E.D.N.Y. Apr. 30, 2013), the managing member of the Debtor filed a bankruptcy petition on

Oriental Bank and Trust assumes all of the deposits of Eurobank

Alston & Bird LLP
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USA
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May 1 2010

Yesterday, the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed Eurobank, headquartered in San Juan, Puerto Rico, and the FDIC was appointed receiver

In re Big M, Inc.

Alston & Bird LLP
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USA
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May 2 2013

In re Big M, Inc., No. 13-10233 (DHS), 2013 WL 1681489 (Bankr. D.N.J. April 17, 2013). In Big M, the Bankruptcy Court for the District of New Jersey

Recent decisions on non-recourse carve-outs in CMBS loans

Alston & Bird LLP
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USA
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March 19 2012

Recent court decisions in the state of MichiganWells Fargo Bank, NA v. Cherryland Mall, ____ N.W.2d _____, 2011 WL 6785393 (Mich.App. 2011) (Cherryland) in the Michigan intermediate appellate court and 51382 Gratiot Avenue Holdings Inc. v. Chesterfield Development Company, 2011 U.S. Dist. LEXIS 142404 (E.D. Mi. Dec. 12, 2011) (Chesterfield) in a federal district courthave presented lenders, master and special servicers with new considerations in enforcing their rights and remedies, but confronted borrowers and guarantors in real estate finance markets with vastly different legal liability and unexpected economic consequences than had previously been understood or thought to have been documented in CMBS mortgage transactions

U.S. Bankruptcy Court approves GM’s Section 363 asset sale

Alston & Bird LLP
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USA
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July 6 2009

Late last night, after presiding over a three-day hearing on the matter last week, U.S. Bankruptcy Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York issued an order authorizing the sale of substantially all of the assets of General Motors Corporation (“Old GM”) under Section 363 of the Bankruptcy Code (“Section 363 Sale”

RCB Bank assumes all of the deposits of Home National Bank

Alston & Bird LLP
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USA
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July 12 2010

On Friday, the Office of the Comptroller of the Currency closed Home National Bank, headquartered in Blackwell, Oklahoma, and the FDIC was appointed receiver

New York Community Bank assumes all of the deposits of Desert Hills Bank

Alston & Bird LLP
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USA
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March 27 2010

On Friday, the Arizona Department of Financial Institutions closed Desert Hills Bank, headquartered in Phoenix, Arizona, and the FDIC was named receiver

FDIC creates Deposit Insurance National Bank to facilitate the resolution of Citizens State Bank

Alston & Bird LLP
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USA
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December 21 2009

On Friday, the Michigan Office of Financial and Insurance Regulation closed Citizens State Bank, headquartered in New Baltimore, Michigan, and the FDIC was named as receiver

Valley National Bank assumes deposits of Park Avenue Bank

Alston & Bird LLP
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USA
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March 12 2010

Today, the New York State Banking Department closed The Park Avenue Bank, headquartered in New York, New York, and the FDIC was named receiver

Washington Mutual files revised reorganization plan with the support of the FDIC, JPMorgan Chase and unsecured creditors

Alston & Bird LLP
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USA
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May 23 2010

On Friday, Washington Mutual Inc. (WMI), the holding company that owned Washington Mutual Bank (WMB), filed a disclosure statement and amended reorganization plan with the U.S. Bankruptcy Court for the District of Delaware that contemplates the creation of a liquidating trust to distribute more than $7 billion

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