We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Case Study: In Re Colonial BancGroup

Law360 (February 24, 2011, 2:07 PM EST) -- On Jan. 24, 2011, the Honorable Dwight H. Williams Jr. of the U.S. Bankruptcy Court for the Middle District of Alabama denied the Federal Deposit Insurance Corporation’s request for relief from the automatic stay in the Colonial BancGroup Inc. case.[1]

The FDIC, in its capacity as receiver for Colonial BancGroup’s failed banking subsidiary, Colonial Bank, sought to lift the automatic stay to setoff balances held in various demand deposit accounts (collectively, the DDAs) held by Colonial BancGroup (the debtor) totaling approximately $38.4 million at Branch Banking...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.