Winstar Plaintiff Relies on Bank Insider to Prove ‘But-for’ Lost Profits

Business Valuation UpdateVol. 17 No. 6
Legal and Court Case Update
June 2011

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breach of fiduciary duty
American Savings Bank v United States
2011 WL 1206472 (Fed.Cl.)
April 1, 2011
US
Federal Court
Federal
United States Court of Federal Claims
Antonio Ramirez Jr. (plaintiff); Terry Musika, Dr. Anjan V. Thakor, and Dr. William G. Hamm (defendant)
Smith

Summary

Federal Court of Claims awards $83.3 million in lost profits based on bank’s analysis of the growth it would have achieved, based on historic performance and business plans, but for government’s enactment of FIRREA.

See Also

American Savings Bank v United States

Full Text of Court Cases
April 1, 2011

Federal Court of Claims awards $83.3 million in lost profits based on bank’s analysis of the growth it would have achieved, based on historic performance and business plans, but for government’s enactment of FIRREA.