Deborah Fletcher and Angela Perry Author Article in North Carolina Lawyers Weekly on Troubled Banks

Deborah Fletcher, a partner in the firm’s Bankruptcy and Creditors’ Rights Practice, and Angela Perry, an associate, authored an article in North Carolina Lawyers Weekly on troubled banks and their impact on business loans. The article explains the Federal Deposit Insurance Corporation’s role as receiver when an insured bank fails, including the statutory rights that allow the FDIC to nullify certain pre-failure agreements between the failed bank and its borrowers and/or guarantors and to repudiate future loan obligations of the failed bank. (“Troubled banks: The impact of bank failures on business loans,” April 19, 2010)