Creative Liquidation in World’s Largest Bank Failure Wins Land for Med Center
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Creative Liquidation in World’s Largest Bank Failure
Wins Land for Med Center
MIAMI-DADE COUNTY—Working to manage and liquidate $250 million in the record-setting bank failure of BCCI, the Miami law firm KPKB found a unique solution where a vacant parcel of disputed land ended up becoming a community medical center.
Hired by BCCI’s U.S. Trustee and Liquidator, KPKB unraveled a complex corporate web of holding companies, banks-within-banks, and insider transactions designed to facilitate illicit activity in seven states and the District of Columbia.
In one example of much innovative litigation, the firm successfully defended a vacant land parcel against competing title claims, leading to its development as a medical center now serving residents of northeast Miami-Dade County.
