In The Eye of the Storm: Defending Bank Officers and Directors in FDIC Litigation
Author: Mary C. Gill.; Robert R. Long.; Mark C. Kanaly.; Todd Chatham.
Source: Volume 25, Number 05, May/June 2012 , pp.19-24(6)
< previous article |next article > |return to table of contents
Abstract:
The number of FDIC-filed lawsuits against former officers and directors of failed financial institutions is on the rise. The trends in FDIC litigation are just beginning to emerge, and recent court decisions will shape the contours of the future cases. As a result, in most instances, the FDIC will be required to meet the higher burden of proving gross negligence in these cases. Former officers and directors may also rely upon certain affirmative defenses, although the outcome of these cases will not be determined anytime soon.Keywords: bank officer and directors; FDIC; failed banks; FDIC as Receiver of IndyMac Bank, F.S.B. v. Van Dellen; FDIC as Receiver for Integrity Bank v. Skow
Affiliations:
1: Alston & Bird LLP; 2: Alston & Bird LLP; 3: Alston & Bird LLP; 4: Alston & Bird LLP.