Four Oaks Fincorp (FOFN) in Four Oaks, N.C., could purge up to $50 million in assets with help from its newest investor.

Kenneth Lehman disclosed in a regulatory filing Monday that he will work with the $820 billion-asset company to create an asset-resolution plan for the assets. The filing, noting that Lehman has purchased a 9.9% stake in Four Oaks, adds that he has 30 days to identify the assets.

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