The trustee for Southeast Banking Corp., which failed in 1991, said creditors could be repaid as much as $115 million in July.

The proposed distribution, which is subject to approval by the bankruptcy court, would be the fourth in the company's Chapter 7 bankruptcy case, said the trustee, Jeffrey H. Beck of Fort Lauderdale, Fla.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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