Bingham

Bingham

Lawyers Author Article on the FDIC and Creditors’ Rights

INSOL International News Update, February 2009 — Boston partners Ed Smith and Neal Curtin and San Francisco partner Jim Rockett authored the article “The FDIC and Creditors’ Rights in the Event of an Insured Bank Failure,” which appeared in the February 2009 INSOL International News Update. The article reviews the role of the Federal Deposit Insurance Corporation (FDIC) in dealing with a distressed bank or thrift institution insured by the FDIC, and in paying claims of creditors of a failed depository institution insured by the FDIC. It also details what depository institutions are insured by the FDIC, summarizes the different capacities in which the FDIC may act, and gives an overview of the insolvency process.

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