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Court Approves Winstar Plaintiff’s Tax Gross Up Calculation

Court finalizes damages award to Winstar bank by adopting plaintiff’s projected tax liability on damages related to government’s breach of contract and by ordering an additional gross up award “to make plaintiff whole.”

Anchor Savings Bank v. United States

Court finalizes damages award to Winstar bank by adopting plaintiff’s projected tax liability on damages related to government’s breach of contract and by ordering an additional gross up award “to make plaintiff whole.”

Market Value Approach Better Than Gordon Growth for Failed Bank

Federal Court of Claims accepts market value approach to valuing failed thrift in Winstar case and rejects Gordon growth model for failing to account for bank’s unstable earnings and its alternative investment opportunities in a “non-breach” world.

AmBase Corp. v. United States

Federal Court of Claims accepts market value approach to valuing failed thrift in Winstar case, and rejects Gordon Growth model for failing to account for bank’s unstable earnings and its alternative investment opportunities in a “non-breach” world.

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

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.

Winstar Bank Claims Lost Profits During Contract; Feds Argue FMV at Breach

Federal court confirms damages award in Winstar case based on lost profits of a company that bank was forced to divest as a result of the government’s breach.

Anchor Savings Bank v. United States

Federal court confirms damages award in Winstar case based on lost profits of a company that bank was forced to divest as a result of the government’s breach.

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.

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

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.

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.

Holland v. United States

The Court previously held that the diminution in going-concern value of River Valley 1 represents “damages incurred by River Valley, and the claim to recover those damages belongs to In the United States Court of Federal Claims No. 95-524 C Filed August 26, 2008 TO BE PUBLISHED HOMER J. HOLLAND, STEVEN BANGERT, Co-Executor of the Estate of HOWARD R. ROSS, and FIRST BANK, Plaintiffs, v . THE UNITED STATES, Defendant ...

Legal Precedent Is Key to Lost Profits Model in Savings and Loan Case

Court trim lost profits/expectancy damages based on findings of inaccurate assumptions by valuation expert.

First Federal Lincoln Bank v. United States

Court trim lost profits/expectancy damages based on findings of inaccurate assumptions by valuation expert.

Cost of Replacement Capital in Mitigation Model Must Be Based on Actual, Related Transactions

Cost of replacement capital in mitigation model case must be based on actual events and not post-mitigation merger and issuance of common stock.

American Federal Bank v. United States

Cost of replacement capital in mitigation model case must be based on actual events, and not post-mitigation merger and issuance of common stock.

Book Value, Not Market Value, Determines Essential Reliance Damages

In this extensive case, one of the myriad issues was whether Transcapital Financial Corporation’s essential reliance interest should be determined by book value or market value.

American Capital Corporation v. United States

In this extensive case arising from the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act, Pub. L. No. 101-73, 103 Stat. 183 (1989) (FIRREA) in response to the savings and loan crisis of the 80's, involving a breach of contract ...

Commercial Federal Bank F.S.B. v. The United States

The U.S. Court of Federal Claims determined a damage award in this breach of contract matter arising from the passage of the Financial Institutions Reform and Recovery Act (FIRREA) in 1989. It permitted the recovery of lost profits based on conservative g ...

Dividend Declaration Despite Loss of Supervisory Goodwill Indicates Supervisory Goodwill Has No Value

The U.S. Court of Federal Claims determined a damage award in this breach of contract matter arising from the passage of the Financial Institutions Reform and Recovery Act (FIRREA) in 1989.

The Globe Savings Bank F.S.B. v. The United States

The U.S. Court of Federal Claims considered the government’s motions for summary judgment with regard to Globe’s damages estimates, the liability for which occurred as a result of the passage of the Financial Institutions Reform, Recovery and Enactment Ac ...

Lost Profits Calculations Overcome, but Cost of Replacement Capital Calculations Succumbs to Government’s Motion for Summary Judgment

The U.S. Court of Federal Claims considered the government’s motions for summary judgment with regard to Globe’s damages estimates, the liability for which occurred as a result of the passage of the Financial Institutions Reform, Recovery and Enactment Act.

Granite Management Corporation v. The United States

The U.S. Court of Federal Claims granted the government’s motions for summary judgment against Granite Management’s damage estimates in this Winstar case. Granite Management sought to recover damages stemming from its loss of supervisory goodwill upon th ...

Actual Means of Replacing Supervisory Capital Must Be Considered

The U.S. Court of Federal Claims granted the government’s motions for summary judgment against Granite Management’s damage estimates in this Winstar case.

Several Damages Methods Considered in Winstar Action

The U.S. Court of Federal Claims granted summary judgment against Southern National on all but two of its measures of damages, regarding claims stemming from the enactment of FIRREA.

Southern National Corporation v. United States

The U.S. Court of Federal Claims granted summary judgment against Southern National on all but two of its measures of damages, regarding claims stemming from the enactment of FIRREA. Its reliance damages model was rejected because it was based on assumed ...

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