Slattery v. US, No. 07-5063

In plaintiffs' breach of contract case against United States, acting through the FDIC, the Court of Federal Claims' judgment is affirmed in part, revered in part and remanded where: 1) the judgment of the Court of Federal Claims is affirmed as to jurisdiction, liability, and the assessment of damages for lost value in the amount of $276 million, net of the receivership deficit, and with an appropriate tax gross-up; 2) judgments as to the award of $67 million in non-overlapping restitution damages and as cumulative the award of wounded bank damages of $28 million are reversed; and 3) dismissal of intervenors' claims relating to the liquidation surplus is reversed and remanded.   

Read Slattery v. US, No. 07-5063

Appeal from:  United States Court of Federal Claims

Decided September 29, 2009

Judges

Before Newman, Gajarsa, Circuit Judges, and Ward, District Judge

Opinion by Newman, Circuit Judge.   

Counsel

For Appellant:  Thomas M. Buchanan, Winston & Strawn, LLP; Bradley P. Smith, Sullivan & Cromwell LLP

For Appellee:  Jeanne E. Davidson,  Director, Commercial Litigation Branch, Civil Division, United States Department of Justice.