Colonial BancGroup Bankruptcy

Montgomery based Colonial BancGroup Inc has filed for Chapter 11 bankruptcy protection just 11 days after being taken over by BB&T Corp. The filing listed assets of $45 million and liabilities of $380 million.

The company’s two largest creditors are the Bank of New York Trust Co NA and the Bank of New York Trust Co of Florida with $235.7 million and $104.1 million owed to them respectively.

If you are considering bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.