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Vineyard National's disclosure statement OK'd by bankruptcy court
By Lisa Kerner
Charlotte, N.C., Feb. 2 - Vineyard National Bancorp's disclosure statement was approved by the U.S. Bankruptcy Court for the Central District of California at a hearing on Tuesday, according to an attorney close to the case.
In November, the company filed its plan of liquidation under which all of its assets will be liquidated, and proceeds will be distributed to creditors by a liquidating trustee.
Vineyard National, the Corona, Calif., holding company for Vineyard Bank, filed for bankruptcy on July 21 in the U.S. Bankruptcy Court for the Central District of California. Its Chapter 11 case number is 09-26401.
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