94-19311. Determination of Insufficiency of Assets to Satisfy All Claims of Certain Financial Institutions in Receivership

[Federal Register Volume 59, Number 152 (Tuesday, August 9, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-19311]


[[Page Unknown]]

[Federal Register: August 9, 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 the financial institution specified in 
SUPPLEMENTARY INFORMATION.
    The FDIC has determined that the proceeds which can be realized 
from the liquidation of the assets of the below listed receivership 
estate are insufficient to wholly satisfy the priority claims of 
depositors against the receivership estate. Therefore, upon 
satisfaction of secured claims, depositor claims and claims which have 
priority over depositors under applicable law, no amount will remain or 
will be recovered sufficient to allow a dividend, distribution or 
payment to any creditor of lessor priority, including but not limited 
to, claims of general creditors. Any such claims are hereby determined 
to be worthless.

FOR FURTHER INFORMATION CONTACT:
Tina A. Lamoreaux, Counsel, Legal Division, FDIC, 1717 H Street NW., 
Washington, DC 20006. Telephone: [phone].

SUPPLEMENTARY INFORMATION: Financial Institution in Receivership 
Determined to Have Insufficient Assets to Satisfy All Claims First 
State Bank & Trust Company, #2561, Edinburg, Texas.

    Dated: August 3, 1994.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Acting Executive Secretary.
[FR Doc. 94-19311 Filed 8-8-94; 8:45 am]
BILLING CODE 6714-01-M