Bank Holding Co.'s Ch. 11 Asset Sale Gets Nod

Law360, Wilmington (December 13, 2013, 4:09 PM EST) -- A Delaware bankruptcy judge gave the green light Friday to holding company North Texas Bancshares Inc.'s sale of its interests in Dallas-based Park Cities Bank to Olney Bancshares of Texas Inc., after hearing about a global settlement that upped the winning bid to nearly $11.2 million.

The auction for the nondebtor four-branch bank, which has more than $396 million on deposit, was facing fire on several fronts including from the official committee of unsecured creditors and stalking horse Park Cities Financial Group Inc. — a special...
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