The U.S. Bankruptcy Court in Broward County, Fla., has approved the bankruptcy plan of a developer controlled by the Federal Deposit Insurance Corp.

The plan will leave BankAmerica Corp. and Chase Manhattan Corp. with substantial losses.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.