Investors in trust preferred securities are resorting to some aggressive options for prying payments from recalcitrant banks.  

American Bancorp. in St. Paul, Minn., last week became the first lender to be forced into bankruptcy over trust-preferred securities. It entered liquidation when a group of companies that manage collateralized-debt obligations backed by the bank's trust-preferred securities pressed for involuntary bankruptcy to collect on $48.1 million in debt and unpaid interest.

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