9012014 Informal Interpretation

Date

January 3, 1991

Rule

7A(c)(4)

Staff

Dick Smith

File Number

9012014

Response/Comments

1/3/91 advised (redacted) that since the RTC is fully overviewing and supervising the sale of the corporation’s voting stock, the transaction is viewed as exempt by the Premerger Office under 7A(c)(4).

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Question

(redacted)

December 20, 1990

Premerger Notification Office
Bureau of Competition
Federal Trade Commission
600 Pennsylvania Avenue, NW, Room 303
Washing ton, D.C. 20580

Dear Mr. Smith:

The purpose of this letter is to confirm our conversation of yesterday regarding the exemption to the Hart-Scott-Rodino Act Section 7A(c)(4) of that Act.

I explained to you that this firm represents the Resolution Trust Corporation (RTC) in a proposed transaction in which the RTC is acting as receiver of (redacted) a failed thrift. In that capacity, the RTC is selling a mortgage loan servicing corporation which is a subsidiary of the failed thrift. The RTC has the authority to conduct the sale as part of its duty to maximize the value of the thrifts assets. The proceeds of the sale will be payable directly to the RTC as receiver.

On the basis of this information, you advised me that because the transaction involves a transfer from a federal agency it will be exempt from the application of the Hart-Scott-Rodino Act by virtue of the Section 7A(c)(4) exemption. If this does not accurately reflect your understanding of our conversation, please let me know.

Very truly yours

cc: (redacted)

9012014 Informal Interpretation

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