Experts Face ‘Formidable Hurdle’ in Proving Lost Profits for Failed Banks

Business Valuation UpdateVol. 16 No. 5
Legal and Court Case Update
May 2010
6211 Security Brokers, Dealers, and Flotation Companies
523110 Investment Banking and Securities Dealing
winstar

Northeast Savings, F.A. v. United States
2010 WL 410110 (Fed. Cl.)
February 1, 2010
US
Federal Court
Federal
United States Court of Federal Claims
Amanda Tantum, Charles J Cooper, David Lehner, David H Thompson, Donna M Doblick, Elizabeth M Hosford, James C Martin, Michael W Kirk, Sameer Yerawadekar, Scott Austin, Tarek Sawi, Vincent J Colatriano
Nevins Baxter (plaintiff); Daniel Fischel, Anjan Thakor, and Barefoot Bankhead (defendant)
Williams

Summary

Court finds bank expert fails to prove federal legislation caused bank’s lost profits in breach of contract/Winstar case, when a variety of external and internal factors forced bank to shrink assets and divest risky portfolio.

See Also

Northeast Savings, F.A. v. United States

Court finds bank expert fails to prove federal legislation caused bank’s lost profits in breach of contract/Winstar case, when a variety of external and internal factors forced bank to shrink assets and divest risky portfolio.