Lost Profits Are Not Recoverable Under FIRREA

Business Valuation Update BVLaw
Legal and Court Case Update
October 22, 1999

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7374 Computer Processing and Data Preparation and Processing Services
518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
contract
breach of contract, economic damages & lost profits
ALLTEL Information Services, Inc. v. FDIC
No. 97-56472 (9th Cir. 1999)
US
Federal Court
9th Circuit
United States Court of Appeals
Tashima

Summary

The 9th Circuit affirmed the lower court's decision denying ALLTEL recovery of lost profits under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) after the FDIC repudiated its contract with a bank.

See Also

ALLTEL Information Services, Inc. v. FDIC

Full Text of Court Cases
October 22, 1999

The 9th Circuit affirmed the lower court's decision denying ALLTEL recovery of lost profits under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) after the FDIC repudiated its contract with a bank.