|
|
Article: A contest to manage FDIC workouts; 7 bidders vie to dispose of failed N.H. banks' assets. (Federal Deposit Insurance Corp.)
- Article from:
- American Banker
- Article date:
- January 21, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
WASHINGTON -- Five banks and two management companies are bidding on a multimillion-dollar contract to work out $800 million in assets stripped from five failed banks in New Hampshire.
The contract would be the first under a new policy by the Federal Deposit Insurance Corp. that permits companies not involved in a bank's rescue to manage problem assets inherited by the government.
The package, expected to be awarded next month, could be worth as much as $30 million, according to Mitchell Glassman, an associate director in the FDIC's liquidation division.
Bidders Are Diverse
The seven bidders are:
* Financial Resource ...