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Fremont General Corporation
Bankruptcy Court Grants Motion Authorizing the Acquisition of Assets and Deposits of Fremont Investment & Loan by CapitalSource
August 2nd, 2008
Fremont General Corporation (the "Company" or "FGC") (Pink Sheets: FMNTQ), doing business primarily through its wholly-owned bank subsidiary, Fremont Investment & Loan ("FIL" or the "Bank"), announced that the United States Bankruptcy Court for the Central District of California, Santa Ana Division ("Bankruptcy Court") issued a court order ("Order") granting the motion filed by the Company on June 23, 2008, which sought approval to consummate the acquisition by CapitalSource Inc. ("CapitalSource"), through its newly formed wholly-owned California industrial bank subsidiary, CapitalSource Bank (in organization), of a substantial portion of FIL's assets, including all of FIL's branches, and...
Source: Law & Health Weekly (2008-08-02)
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