AEW enters pact with FDIC.Aldrich, Eastman & Waltch and Secured Capital Corporation have entered into a regional asset liquidation agreement with the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). under which they will be responsible for resolving a group of performing and non-performing real estate and business loans in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of region. The loans have a book value of approximately $300 million and are held by the FDIC in receivership from the American Savings Bank and Riverhead Savings Bank of White Plains. AEW AEW Airborne Early Warning AEW Air Expeditionary Wing AEW Airborne Electronic Warfare AEW Agr' Eau' Wat (Canadian agricultural consultant) AEW Amckerns Explosion Wars (Half Life community) will act as asset manager and is responsible for maximizing the recovery of capital from the resolution of each loan. Secured Capital Corporation will be part of the management team and will develop and execute capital-market oriented exit strategies for certain of the assets. Founded in 1981, Boston-based AEW creates and actively manages direct investments in real property on behalf of large institutions, including corporate, labor union and government pension funds, university endowment funds and the RTC See real time clock. . |
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