[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