Imperial's Disclosure Statement Wins Over FDIC Concerns

Law360, New York (March 22, 2012, 7:04 PM EDT) -- A California bankruptcy court on Wednesday gave the green light to Imperial Capital Bancorp Inc.'s disclosure statement, even as the Federal Deposit Insurance Corp. is still fighting to make sure its claims are first in line.

The approval clears the way for an April 24 hearing on the approval of the third reorganization plan put forward by Imperial and distressed debt investor HoldCo Advisors LP. The initial plan was abandoned after opposition from the official committee of unsecured creditors, and a subsequent liquidating plan was also...
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