A legal battle between Maxxam Inc.'s CEO and the Federal Deposit Insurance Corp., which has raged for a dozen years in Houston, is now before the 5th Circuit. At issue is a district court decision ordering the FDIC to pay $73.3 million in sanctions for legal fees Maxxam spent defending its officers in a long-running enforcement action. The FDIC claims that the district court judge erred by finding that the enforcement action was "politically motivated." The 5th Circuit heard oral arguments last week.
August 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The legal battle between Charles Hurwitz and the Federal Deposit Insurance Corp., which has raged for a dozen years in Houston, moved to New Orleans last week. But lawyers for the FDIC and Houston-based Maxxam Inc., where Hurwitz is chairman and chief executive officer, weren’t in New Orleans to eat gumbo or hear some jazz.
On Aug. 7, they were there to argue Federal Deposit Insurance Corp. v. Charles E. Hurwitz, et al. before a three-judge panel of the 5th U.S. Circuit Court of Appeals.
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