Colonial BancGroup Files For Ch. 11 Amid Probes
The company filed a voluntary petition Tuesday in the U.S. Bankruptcy Court for the Middle District of Alabama.
Colonial BancGroup, which is based in Alabama, has a total of $45 million in assets and $380 million in debts, according to its bankruptcy petition. It has not articulated the reason it filed for bankruptcy, and a representative for the company refused to...
To view the full article, register now.