Capitol Bancorp Ltd. investors who fear the bank-holding company's sale of its banks to Wilbur Ross's Talmer Bancorp will leave them empty-handed want a bankruptcy judge to slow down the deal so rival bidders can make an offer, Dow Jones Daily Bankruptcy Review reported today. Lawyers for the committee representing Capitol's unsecured creditors on Monday objected to the rules governing the sale, claiming that they'll be left holding the bag if the deal proceeds as proposed. The committee wants a bankruptcy judge to extend the timeline governing the sale to give other potential bidders sufficient time to formulate their bids.
