Lender Taylor Bean Blames Bankruptcy On Regulation

By Mike Cherney

Law360, New York (August 24, 2009, 7:02 PM ET) -- Taylor Bean & Whitaker Mortgage Corp. has filed for Chapter 11 bankruptcy protection, saying in a statement Monday that actions by government regulators in the past few weeks have "crippled the company's business operation."

The case was filed Monday in the U.S. Bankruptcy Court for the Middle District of Florida. It comes several weeks after the Federal Housing Authority suspended the company's ability to issue FHA-insured loans and the failure of Colonial Bank, the company's primary bank for years.

The company listed more than $1 billion...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles