FDIC Seeks To Intervene In River Road Bankruptcy

Law360, New York (July 30, 2010, 6:45 PM EDT) -- The Federal Deposit Insurance Corp. has asked to intervene in River Road Hotel Partners LLC’s bankruptcy to fight for U.S. Bank National Association's right to credit bid for the debtor's assets, saying it is entitled to intervene because of its shared-loss agreement with U.S. Bank.

In a motion filed Thursday the FDIC said that if U.S. Bank, a secured lender to River Road, is barred from bidding on the hotel developer's assets — as it would be under River Road's proposed sale order — the FDIC...
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