Another Collapse in the Banking World
In one of the most dramatic days in Chicago’s banking history, Prime Capital National Bank’s top management has announced that on Sunday night, at closed markets, an agreement to sell the company and all his assets back to the Van Horn Family has been signed.
After its unprecedented free fall on the stock market that has seen the share value of the bank drop dramatically over the past week, the only option for P.C.N., in order to avoid bankruptcy and liquidation, was to find a buyer.
It found a more than willing one in tycoon Adam Van Horn, who merely a month ago was stripped of the control share of the bank in a reckless financial maneuver. The financial market mogul happily stepped in to regain control of his first company, achieving a substantial profit with the quick maneuver.
Nathan Murphy, former CEO of P.C.N., allegedly received a severance package close to five million dollars. His thirty-day appointment as commander in chief of Prime Capital, if short, was definitely remunerative, having allegedly granted him a check of roughly one-hundred-sixty-six-thousand dollars per day of work.
The previous owners of P.C.N. Bank, the only true victims of this anomalous financial disaster, remain anonymous; the only available links to the recent takeover lead to an offshore company whose shareholders remain unidentified.