HomeMy WebLinkAbout20093794.tiffFDIC
Federal Deposit Insurance Corporation
1601 Bryan Street, Dal'as, TX 75201 Division of Resolutions and Receiverships
July 21, 2009
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
RECEIPT NO. 7007 OaQO 0000 6 707 453,6c/
Weld County Board of County Commissioners
ATTN: Clerk of the Board
P.O. Box 758
Greeley, CO 80623
Subject: 10050 — New Frontier Bank
Greeley, CO — In Receivership
Closing Date: April 10, 2009
Claims Bar Date: 90 Days From the Date of this Letter
Irrevocable Letter of Credit No. 249
Dear Sir or Madam:
The above -captioned institution (the "Institution") was closed on the Closing Date
referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the
Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with
the duty of winding up the affairs of the Institution. In order to achieve this goal, the Receiver is
given the right under 12 U.S.C. Section 1821(e) to repudiate undertakings entered into by the
Institution where it finds such undertakings to be burdensome and where such repudiation will
promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you maybe a beneficiary of a letter of credit as
referenced above. The Receiver has determined that the above -described letter of credit is
burdensome and that disaffinnance of said letter of credit will promote the orderly administration
of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has
elected to disaffirm the above -referenced letter of credit to the full extent, if any, that it
represents an enforceable obligation of the Institution or the Receiver.
You may determine that the Receiver's decision to disaffirm your letter of credit gives you a
claim against the receivership estate. If so, you must file a Proof of Claim in writing, together with
proof thereof, by the Claims Bar Date referenced in the caption hereof. Under federal law, with
certain limited exceptions, failure to file claims by the Claims Bar Date will result in
disallowance by the Receiver, the disallowance will be final, and further rights or remedies
with regard to claims will be barred. A Proof of Claim form may be obtained by calling 1-888-
206-4662 or visiting www.fdic.gov.
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If you have any further Questions concerning the claims process, you may direct your
inquiry to Bart Jones at 970-339-5100 ext. 414.
Federal Deposit Insurance Corporation
as Rec Fiver of New Frontier Bank
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By: Garyiebenforcher
Title: Post Closing Asset Manager
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