FDIC's $48M Imperial Claim To Stay In Bankruptcy Court

Law360, New York (October 14, 2011, 6:29 PM EDT) -- A California federal judge on Friday said a bankruptcy court should handle a $48.2 million dispute over capital requirements between bank holding company Imperial Capital Bancorp Inc. and the Federal Deposit Insurance Corp.

Denying an FDIC request, U.S. District Judge Larry A. Burns said a bankruptcy judge was capable of handling the deposit insurer's claim. The FDIC wants Imperial to pay at least $48.2 million to shore up the capital held by its former bank, Imperial Capital Bank, now owned by Los Angeles-based City National Bank....
To view the full article, register now.