[Federal Register Volume 59, Number 10 (Friday, January 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-907]
[[Page Unknown]]
[Federal Register: January 14, 1994]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Determination of Insufficiency of Assets To Satisfy All Claims of
Certain Financial Institutions in Receivership
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Notice.
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SUMMARY: In accordance with the authorities contained in 12 U.S.C.
1821(c), the Federal Deposit Insurance Corporation (FDIC) was duly
appointed receiver for each of the financial institutions specified in
SUPPLEMENTARY INFORMATION. The FDIC has determined that the proceeds
which can be realized from the liquidation of the assets of these
receivership estates are insufficient to satisfy all classes of claims,
asserted or unasserted against the receivership estate. Therefore, upon
satisfaction of secured claims, depositor claims and claims which have
priority over depositors under applicable state law, no amount will
remain or will be recovered sufficient to allow a dividend,
distribution or payment to any other creditor and therefore the claim
of any such creditor is worthless.
FOR FURTHER INFORMATION CONTACT: Keith Ligon, Counsel, Legal Division,
FDIC, 1717 H Street, NW., Washington, DC 20006. Telephone: (202) 736-
0160.
SUPPLEMENTARY INFORMATION:
Financial Institutions in Receivership Determined To Have Insufficient
Assets To Satisfy All Claims
Citizen's Bank #4437, Dallas, Georgia
Breman State Bank, #4559, Breman, Kansas
Cypress Savings Bank, #7586, Plantation, Florida
Bank of Horton, #4366, Horton, Kansas
Cardinal Savings Bank, #7573, Newport, North Carolina
Dated: January 10, 1994.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Acting Executive Secretary.
[FR Doc. 94-907 Filed 1-13-94; 8:45 am]
BILLING CODE 6714-01-M
