So we can’t lose," he said. CIC was set up in September 2007 with $200 billion of foreign currency reserves transferred from the central bank, which manages its own stockpile of $2.13 trillion. "If our returns are not bad and the state’s FX reserves are still rising, we may go and ask for more," Lou said.
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The bank has recorded large losses on the transactions, including $165 million in the second quarter. The bank, which is averaging returns of about 45 cents on the dollar, expects to lose $300 million more in the second half of the year through asset sales.
was rebuffed by a bankruptcy judge last September when it tried to sue Colonial BancGroup for a $900 million shortfall at Colonial’s banking subsidiary. The FDIC, which took over Colonial Bank in.
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Whittle argued that BB&T’s maximum recovery in chapter 7 would have been $2.2 million, the amount of BB&T’s claim at the time of foreclosure. BFP v. Resolution Trust Corp. in BFP , a partnership formed for the purpose of buying a home defaulted on its mortgage payments, resulting in a foreclosure by the bank.
Bobby Lowder, former CEO of Colonial Bank and a trustee of. in assets – the bulk of which were then handed over to BB&T (BBT, The Edward L. and Catherine K. lowder business building (named for his parents) and the Charlotte G.. mortgage lender, would inject the $300 million Colonial needed.
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port land for $300 million to a developer comes as a surprise to the city manager. That seems to go against the anti-growth goals oftheVNC, Black said, especially with the amount of intensive develop-ment needed to justify a $300 million land purchase a dol-lar amount that Black doesn’t think is based upon reality. "There is no entity that’s
The Colonial BancGroup, Inc. We represent The Colonial BancGroup, Inc. (CBG) , the second largest savings and thrift failure ever. We represent CBG in litigation against the FDIC as receiver for Colonial Bank, CBG’s former banking subsidiary, and BB&T Corp. concerning ownership disputes over more than $650 million in assets.