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IN RE COLONIAL BANCGROUP, INC.

No. 09-32303-DHW.

436 B.R. 713 (2010)

In re the COLONIAL BANCGROUP, INC., Debtor.

United States Bankruptcy Court, M.D. Alabama.

September 1, 2010.

Attorney(s) appearing for the Case

C. Edward Dobbs , Rufus T. Dorsey, IV , Parker, Hudson, Rainer & Dobbs, LLP, Atlanta, GA, W. Clark Watson , Balch & Bingham LLP, Birmingham, AL, for Debtor.

AMENDED MEMORANDUM OPINION

DWIGHT H. WILLIAMS, JR., Bankruptcy Judge.

The Federal Deposit Insurance Corporation ("FDIC") filed a motion on November 5, 2009 to require the Debtor to immediately cure the deficit under an alleged commitment to maintain the capital of Colonial Bank or, in the alternative, to convert the case to a case under chapter 7 of the Bankruptcy Code. The FDIC calculates the deficit at $904,954,360—an amount far in excess of the...

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