Montgomery based Colonial BancGroup Inc has filed for Chapter 11 bankruptcy protection just 11 days after being taken over by BB&T Corp. The filing listed assets of $45 million and liabilities of $380 million.
The company’s two largest creditors are the Bank of New York Trust Co NA and the Bank of New York Trust Co of Florida with $235.7 million and $104.1 million owed to them respectively.
If you are considering bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC at 205-324-4000.