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BB&T's (BBT) purchase of BankAtlantic’s (BBX) lending business was blocked yesterday...

BB&T's (BBT) purchase of BankAtlantic’s (BBX) lending business was blocked yesterday by a Delaware Chancery Court judge, who agreed with hedge fund investors that the deal favored BBX management over debtholders. If the deal had gone through, distressed loans would have remained with BBX's holding company, which owed $330M to holders of its trust preferred securities.
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