The Automated Teller Machines (ATM) and online service will remain available.
The bank will maintain its regular business hours, and you may continue
to use the services to which you previously had access, such as safe deposit
boxes, night deposit boxes, wire services, etc.
Your checks will be processed as usual. All outstanding checks
will be paid against your available balance(s) as if no change
had occurred. Your new bank will
contact you soon regarding any changes in the terms of your account. If
you have a problem with a merchant refusing to accept your check, please
contact your branch
office. An account representative will
clear up any confusion about the validity of your checks.
All interest accrued through Friday, April 30,
2010 will be paid at your same rate. Scotiabank de Puerto Rico will
be reviewing rates. You
will be notified of any changes.
Your automatic direct deposit(s) and/or automatic withdrawal(s) will be
transferred automatically to your new bank. If
you have any questions or special requests, you may contact a representative
of your assuming institution at your
branch office. |
Determination of Insufficient Assets To
Satisfy Claims Against Financial
Institution in Receivership
SUMMARY: The FDIC has determined that
insufficient assets exist in the
receivership of R–G Premier Bank of Puerto Rico, Hato Rey, Puerto Rico, to make any distribution to general
unsecured claims, and therefore such claims will recover nothing and have no value.
DATES: The FDIC made its determination
on August 2, 2011.
If
you have questions regarding this
notice, you may contact an FDIC Claims
Agent at (904) 256–3925. Written
correspondence may also be mailed to:
Federal Deposit Insurance Corporation
Receiver: R-G Premier Bank of Puerto Rico
7777 Baymeadows Way West
Jacksonville, FL 32256
Attention: Claims Agent
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SUPPLEMENTARY INFORMATION: On April
30, 2010, R–G Premier Bank of Puerto
Rico, Hato Rey, Puerto Rico, (FIN
#10230) was closed by the Office of the
Commissioner of Financial Institutions
of the Commonwealth of Puerto Rico
(''OCFI''), and the Federal Deposit
Insurance Corporation (''FDIC'') was
appointed as its receiver (''Receiver'').
In complying with its statutory duty to
resolve the institution in the method
that is least costly to the deposit
insurance fund, see 12 U.S.C. 1823(c)(4),
the FDIC facilitated a transaction with
Scotiabank de Puerto Rico, San Juan,
Puerto Rico, to acquire the deposits and
most of the assets of the failed
institution.
Section 11(d)(11)(A) of the FDI Act,
12 U.S.C. 1821(d)(11)(A), sets forth the
order of priority for distribution of
amounts realized from the liquidation or
other resolution of an insured
depository institution to pay claims.
As of May 31, 2011, the value of
assets available for distribution by the
Receiver, together with maximum
possible recoveries on claims against
directors, officers, and other
professionals, and claims in bankruptcy
was $3,321,421,322. As of the same
date, administrative expenses and
depositor liabilities equaled
$4,671,704,953, exceeding available
assets and potential recoveries by
$1,350,283,631. Accordingly, the FDIC
has determined that insufficient assets
exist to make any distribution on
general unsecured creditor claims (and
any lower priority claims) and therefore
all such claims, asserted or unasserted,
will recover nothing and have no value.
DATED: August 11, 2011
Federal Register /Vol. 76, No. 158 /Tuesday, August 16, 2011 /Notices pg. 50733
FAQ For "No Value" Determination
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