IndyMac Bancorp Inc., the California mortgage lender seized last month by the Federal Deposit Insurance Corp., says it filed for Chapter 7 bankruptcy protection. In a filing with the Securities and Exchange Commission on Thursday, IndyMac says it expects the court will appoint a bankruptcy trustee promptly. Alston & Bird is representing IndyMac, once the nation's second-largest independent mortgage lender. The company now has liabilities that are estimated between $100 million and $500 million.
IndyMac Files for Bankruptcy
August 1, 2008