- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
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I. Introduction |
On October 13, 2000, Bank of Honolulu was closed by The State of Hawaii
Department of Commerce and Consumer Affairs. The Federal Deposit Insurance
Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with
winding up the business affairs of the failed financial institution. This
includes the disposition of assets and liabilities of the failed financial
institution and payment of dividends to approved creditors in order of
priority.
The FDIC, as Receiver, as taken all necessary actions to conclude the affairs
of the failed financial institution, made all dividend distributions as
required by law and the receivership estate is deemed terminated. |
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II. Press
Release |
The FDIC has issued a press release about the institution’s closure. If
you represent a media outlet and would like information about the closure,
please contact the FDIC Public Affairs Office at (202) 898-6993.
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III. Acquiring
Financial Institution |
All insured deposit accounts were transferred to Bank of the Orient,
Honolulu, HI, and were available as usual during regular business hours at the
former Bank of Honolulu branches. You may contact Bank of the Orient at: Bank of the Orient
233 Sansome Street
San Francisco, California 94104
Phone: (808) 543-3700 |
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IV. Priority of Claims |
The dividend process is complete. In accordance with Federal law,
allowed claims are paid, after administrative expenses, in the following order
of priority:
Depositors
General Unsecured Creditors
Subordinated Debt
Stockholders |
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V. Dividend Information
|
Dividend
Information on Failed Financial Institutions |
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VI. Receivership
Termination |
The FDIC
as Receiver for Bank of Honolulu has taken all actions necessary to
terminate the Receivership Estate.
The Receiver published a legal notice of intent to terminate the
receivership in The Honolulu Advertiser on February 13, 2003.
The Receiver has made all dividend distributions required by law.
Effective March 25, 2005, the Receivership Estate has been terminated,
the Receiver was discharged and the Receivership Estate ceased
existence as a legal entity |
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General
Disclaimer |