Another Savings and Loan Case Sets Precedent for Expert Proof in Valuing Failed Banks

Business Valuation UpdateVol. 16 No. 1
Legal and Court Case Update
January 2010
6211 Security Brokers, Dealers, and Flotation Companies
523110 Investment Banking and Securities Dealing
winstar

First Annapolis Bancorp., Inc. v. the United States
2009 WL 349020 (Fed. Cl.)
October 26, 2009
US
Federal Court
Federal
United States Court of Federal Claims
Brian A Mizoguchi, Dale A Cooter, Delisa M Sanchez, Scott D Austin
Edward Heiden (plaintiff); David Kennedy and Alan Shapiro (defendant)
Williams

Summary

Bank purchases ailing federal thrift before passage of FIRREA; afterward, the government’s regulatory forbearances become worthless and bank loses $13.7 million of the purchase price, as supported by expert evidence regarding value of forbearances.

See Also

First Annapolis Bancorp., Inc. v. the United States

Bank purchases ailing federal thrift before passage of FIRREA; afterward, the government’s regulatory forbearances become worthless and bank loses $13.7 million of the purchase price, as supported by expert evidence regarding value of forbearances.