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CORAL GABLES — The former holding company for BankUnited FSB says it has filed for Chapter 11 bankruptcy protection, one day after the thrift was seized by federal regulators.
BankUnited Financial Corp. made the Chapter 11 filing in federal bankruptcy court for the southern district of Florida.
BankUnited FSB is in receivership by the Federal Deposit Insurance Corp. The seizure is expected to cost the FDIC $4.9 billion, making it the second-largest hit to the insurance fund since the financial crisis began hitting banks last year.
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