A judge has approved Anchor Bancorp Wisconsin's (ACBW) plan to file for bankruptcy.

A U.S. Bankruptcy Court judge approved Anchor's Chapter 11 plan on Friday, the Madison, Wis., company announced. The plan, announced last month, would allow Anchor to repay $183 million in debt at a 73% discount and would free it from an obligation to repay $139 million in capital it received from the Troubled Asset Relief Program.

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