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Colonial BancGroup Bankruptcy

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 Bankruptcy Law, LLC at (205) 324-4000.

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