Fremont loan unit can be acquired
From Times Wire Services
Fremont General Corp., the bankrupt Brea financial services holding company, won a court order allowing its Fremont Investment & Loan to be acquired by a unit of CapitalSource Inc.
CapitalSource Bank will acquire a “substantial portion” of Fremont Investment & Loan’s assets, Fremont said. CapitalSource Bank will take over all of the bank’s branches and deposits, the companies said.
Fremont, once the nation’s fifth-largest subprime lender, listed $362 million in assets in a July 3 filing in U.S. Bankruptcy Court in Santa Ana.
A spokesman didn’t immediately return a call seeking comment after business hours.
