Federal Judge Dismisses Successor From State's Action Against Colonial Bank

MONTGOMERY, Ala. - A federal judge in Alabama on Jan. 17 granted the motion to dismiss filed by Branch Banking and Trust Co. (BB&T), the successor to the failed Colonial Bank, in a suit filed by the State of Alabama Department of Revenue requesting that BB&T and the Federal Deposit Insurance Corp. (FDIC) pay taxes incurred by Colonial (The State of Alabama Department of Revenue v. Federal Deposit Insurance Corp., as receiver for Colonial Bank, and Branch Banking and Trust Co., as successor to in interest to Colonial Bank, No. 11-00272, M.D. Ala.; 2012 U.S. Dist. LEXIS 5260). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com Full story on lexis.com