Colonial's

Meanwhile Lee Farkas , Taylor Bean's former chairman, was convicted in April on criminal fraud charges related to a seven-year, multibillion-dollar scheme that contributed to Colonial's collapse.

Colonial BancGroup Wins Bankruptcy Plan Approval Patrick Fitzgerald 2011

The FDIC estimates Colonial's collapse will cost its insurance fund $3.8 billion, making it one of the most expensive bank failures in U.S. history.

Colonial BancGroup Wins Bankruptcy Plan Approval Patrick Fitzgerald 2011

Marion County Sheriff's Office via Bloomberg Lee Farkas, former chairman of Taylor, Bean & Whitaker Mortgage Corp. As her former boss, Colonial's CFO, later testified: A customer is typically a check on a bank and a bank employee is a check on the customer.

A Mortgage 'Big Fish' Disappoints Jr. Holman W. Jenkins 2011

"We are very pleased that the court has confirmed the Colonial's liquidation plan, which was supported overwhelmingly by those unsecured creditors holding allowed claims," said Colonial BancGroup's attorney C.

Colonial BancGroup Wins Bankruptcy Plan Approval Patrick Fitzgerald 2011

The decision represents a reversal for Colonial's creditors and is another setback for the FDIC in bankruptcy court, where the agency, as receiver, has faced off against creditors of a number of bank holding companies that are under Chapter 11 protection as a result of the wave of bank closures by regulators in recent years.

Colonial BancGroup Wins Bankruptcy Plan Approval Patrick Fitzgerald 2011

The FDIC estimates Colonial's collapse will cost its insurance fund $3.8 billion, making it one of the most expensive bank failures in U.S. history.

BofA Sues FDIC Over Mortgage Losses Patrick Fitzgerald 2010

Taylor Bean and Colonial's parent, Colonial BancGroup Inc., both sought bankruptcy protection that month as well.

Taylor Bean Chairman's Fraud Case Heads to Jury Eric Morath 2011

Both Taylor Bean and Colonial's parent, Colonial BancGroup Inc., filed for bankruptcy protection in August 2009.

Ex-Taylor Bean Chairman Sentenced to 30 Years in Prison Jacqueline Palank 2011

Many of Colonial's loans were concentrated in Florida construction and land development.

FDIC's Tab For Failed U.S. Banks Nears $9 Billion Robin Sidel 2011

Less than two weeks ago, Judge Williams sided with the FDIC, finding Colonial's Chapter 11 plan would be more expensive than Chapter 7 liquidation but would accomplish the same thing.

Colonial BancGroup Wins Bankruptcy Plan Approval Patrick Fitzgerald 2011