The former holding company for Colonial Bank, which was seized by federal regulators last year, is suing the Federal Deposit Insurance Corp. over the rights to millions of dollars of disputed assets.

In a lawsuit filed late last week, bank holding company Colonial BancGroup Inc. sued the FDIC, the bank's receiver, over the rights to a number of assets — including tax refunds, proceeds from insurance policies and other property — that it says belong to the bankruptcy estate. The FDIC claims it has dibs on the assets.

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