Capital Corp. Submits Ch. 11 Liquidation Plan

Law360, New York (September 24, 2009, 2:44 PM EDT) -- Bank holding company Capital Corp. of the West has filed a Chapter 11 liquidation plan, saying creditors should expect recoveries of between 8 percent and 29 percent on impaired claims.

The company previously owned California-based County Bank and factoring company Bay View Financing, which purchased and collected receivables from businesses at a discount, according to a disclosure statement filed Tuesday in the U.S. Bankruptcy Court for the Eastern District of California.

The company lost most of its value in February when the financially crippled County Bank...
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