BancInsure parent sells firm for $1 and files bankruptcy

http://newsok.com/bancinsure-parent-sells-firm-for-1-and-files-bankruptcy/article/3781592

Oklahoma City-based BMSI Holdings Inc. filed for Chapter 7 bankruptcy on Monday, reporting $59.7 million in liabilities against roughly $7,800 in assets.
The holding company sold BancInsure, its primary remaining asset, for $1 to New York-based financial services company Foster Jennings Inc. in February.