Trups Investors Add to Pressure on Deadbeat Banks

Trups Investors Add to Pressure on Deadbeat Banks

Trust-preferred creditors are starting to give deadbeat banks an unenviable choice: negotiate repayment or run the risk of forced liquidation. Trapeza Capital Management filed legal documents in July to force FMB Bancshares in Lakeland, Ga., into involuntary bankruptcy. Trapeza is owed $13.6 million...

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Veröffentlicht in:Asset Securitization Report 2014-08, Vol.14 (8), p.14
1. Verfasser: Cummings, Chris
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Sprache:eng
Schlagworte:
Auctions
Bankruptcy
Banks
Collateralized debt obligations
Creditors
Economic crisis
Investments
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description Trust-preferred creditors are starting to give deadbeat banks an unenviable choice: negotiate repayment or run the risk of forced liquidation. Trapeza Capital Management filed legal documents in July to force FMB Bancshares in Lakeland, Ga., into involuntary bankruptcy. Trapeza is owed $13.6 million in unpaid debt and interest. BNY Mellon said in May that it would let a group of investors in passively managed trust-preferred CDOs coordinate action against banks that are in default. BNY Mellon's move will likely make it easier for investors to sue defaulted banks, potentially setting off a wave of involuntary bankruptcies.
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subjects Auctions
Bankruptcy
Banks
Collateralized debt obligations
Creditors
Economic crisis
Investments
title Trups Investors Add to Pressure on Deadbeat Banks
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