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USA - March 1 2013
When the U.S. Supreme Court last year agreed to hear the case of Connecticut Retirement Plans v. Amgen, many corporate defense attorneys viewed it as…
USA - December 10 2012
As has been noted on this blog before, the State of Georgia has the dubious distinction of leading the nation in the number of failed financial institutions.
USA - April 3 2012
On March 16, 2012, the FDIC, in its capacity as Receiver for the failed Omni National Bank, brought a lawsuit in the Northern District of Georgia against several former officers, some of whom had also served as directors, of the Bank seeking to recover over $24.5 million in losses the bank suffered on over 200 Community Development Lending Division (“CDLD”) loans on low income residential properties.
USA - March 22 2012
On March 2, 2012, the FDIC, in its capacity as receiver for Freedom Bank of Georgia, brought suit against twelve (12) former directors and officers of the Bank, many of whom served on the bank’s Loan Committee.
USA - March 19 2012
Following the failure of over 400 financial institutions since the beginning of 2008, the FDIC has clarified its expectations with respect to collection and retention of bank documents by directors and officers of troubled or failing financial institutions for the purpose of explaining or defending their conduct.
