AmFin Financial Wins Approval Of Ch. 11 Plan

Law360, New York (October 26, 2011, 2:14 PM EDT) -- An Ohio bankruptcy judge approved AmFin Financial Corp.'s restructuring plan Tuesday, paving the way for the fourth-largest bank taken over by the Federal Deposit Insurance Corp. in 2009 to exit bankruptcy.

AmFin, which collapsed during the 2008 financial crisis, won widespread support for its restructuring from creditors, including its largest, the FDIC, and during a hearing Tuesday, U.S. Bankruptcy Judge Pat Morgenstern-Clarren signed off on the Chapter 11 plan. Under the plan, which AmFin filed in January and amended in May and again in July, the...
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