Defunct Bank's Holding Co. Files For Bankruptcy

Law360, New York (June 21, 2012, 4:14 PM ET) -- First Regional Bancorp, the holding company for defunct Los Angeles-based First Regional Bank, on Tuesday petitioned for Chapter 11 bankruptcy protection, listing just $1.3 million in assets, a far cry from the bank’s $2.18 billion in holdings seized by federal regulators in 2010.

The company claimed $100 million to $500 million in liabilities and said it had 11.8 million shares in common stock held by roughly 1,200 shareholders.

Jack A. Sweeney, who founded the bank in 1979, Wellington Management Co. LLC and Bay Bond Partners LP...
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