Amoskeag Bank Shares Files For Chapter 7 Liquidation

MANCHESTER, N.H. -- Amoskeag Bank Shares Inc., the parent of three banks closed by regulators in early October, has filed a petition to liquidate under Chapter 7 of the bankruptcy law.

The subsidiaries -- Amoskeag Bank, Bank Meridian, and Nashua Trust Co. -- were placed in receivership by federal regulators and sold to First NH Banks, a unit of the Bank of Ireland.

The company said a bankruptcy judge will oversee the liquidation and First NH's acquisitions will not be affected.

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