FDIC and banks crack down on debtors in Permian Basin
Anxiety rises as FDIC and local banks tighten loan recovery in the Permian Basin. The FDIC, now receiver for three failed banks, has closed firms, seized collateral, and frozen accounts while pursuing delinquent borrowers. Odessa and Midland lawyers report increased sequestration and garnishment filings, with Harvey's Jewelry and Loan among firms affected.
MENTIONED IN THIS ARTICLE
Permian Basin
Federal Deposit Insurance Corp
FDIC
University of Texas of the
Jim Williams
William Isaac
Odessa
Midland
Isaac
West Texas
Midland Hilton
Federal
Jackie Sue Barns Glover
Ector County
Glover
Harvey’s Jewelry and Loan
N. Grant Ave
Bankruptcies surge in Permian Basin strain Midland trustee
Midland trustee Ken Holt oversees Chapter 7 liquidations as filings surge in the Permian Basin. He handles about 25 bankruptcies a month, with numbers possibly doubling by year end. His warehouse holds autos and equipment awaiting auction including a 1930 Rolls-Royce valued around 30000. Credit manager Chris Mobley notes bankruptcies linger 10 years but don't automatically ruin credit. many debtors restart businesses.
MENTIONED IN THIS ARTICLE
Robert Halpern
Midland
Ken Holt
U.S
Permian Basin
Holt
South Midland
Midland and Odessa
Chris Mobley
Credit Bureau of
Odessa
Mobley
Star Adair seeks haven from FDIC bankruptcy wave
Odessa based Star Adair Insulation and other Permian Basin firms face rising bankruptcy filings as the FDIC begins collecting on loan defaults from three failed Odessa Midland banks. By November 25 1983 the district saw 274 petitions across West Texas, with 49 Chapter 11 reorganization cases and 191 Chapter 7 liquidations plus 34 personal reorganizations.
MENTIONED IN THIS ARTICLE
Star/Adair Insulation Inc
Star/Adair
Federal Deposit Insurance Corp
Odessa and Midland
First National Bank of Midland
National Bank of Odessa
MetroBank
FDIC
Permian Basin
West Texas
Peggy Craig
U.S. Bankruptcy Court
San Antonio
Midland and
Pecos
Craig
Midland and Pecos
Doctors May Pull Teeth From Dental Surgery Law
Hospitals and doctors plan to challenge a Texas law allowing dentists to perform oral surgery in hospitals. The Legislature passed the amendment last spring, with lobbyists saying a lawsuit will follow as soon as a dentist attempts hospital practice.
MENTIONED IN THIS ARTICLE
Texas
Dallas Morning News
Texas Hospital Association
C. Dean Davis
Greg Houser
Texas Medical Association
Odessa
Sam Glenney
Glenney
Midland
Mike Cummings
Midland Memorial Hospital
Cummings
Ben Anderson
Odessa Women’s and Children’s Hospital
Exxon CO2 oil recovery under way near Andrews
Exxon USA launches a $300 million CO2 enhanced oil recovery at the Means Field San Andres Unit about 13 miles north of Andrews. Two water injection wells began last Monday with 443 total wells planned and a life of project injecting 252 billion cubic feet of CO2. Peak output could reach 15,000 barrels daily, lifting recoverable oil by about 16.6 million barrels from CO2 and 18.6 million from new infill wells. The project extends field life beyond the century and uses a 405 mile CO2 pipeline from Sheep Mountain Colorado to Seminole Texas.
MENTIONED IN THIS ARTICLE
Andrews
Exxon Co
U.S.A
Bill Ingram
Exxon
San Andres
Sheep Mountain
Colorado
Permian Basin
Seminole
Means
Ingram
Also Mentioned on This Page
By Robert Halpern
Wax World
E. 42Nd St
United States Bankruptcy Court
Adair
Cisneros
Anderson
Jim Edmondson
Sun Oil Co
Shell Oil Co
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!