X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Before the United States Court of Federal Claims, D & N Bank (“D&N”) sought damages in a breach of contract action that it argued arose from the 1989 enactment of the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), Pub. L. No. 101-73, 103 Stat. 183 (1989). D&N now appeals the decision of the United States Court of Federal Claims granting the government’s motion for summary judgment of no contract liability. D & N Bank v. United States, No. 95-539(C) (Fed. Cl. 2002) (order memorializing hearing on dispositive motions and resolving merits of count I of complaint). Because D&N has not demonstrated that there was a contract that could have been breached by FIRREA, we affirm.

Background

D&N maintains that the government breached an express or implied-in-fact contract guaranteeing D&N the right to designate as regulatory capital approximately $57 million in goodwill arising from D&N’s acquisition of another thrift, First Federal Savings and Loan Association of Flint (“First Federal”). *fn1 D&N also argued that it had a contract-based right to amortize the goodwill over a period of forty years.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

African Legal Awards (AFLA) 2022

September 02, 2022
Johannesburg

The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.


Learn More

China Law & Practice Awards (CLPA) 2022

September 08, 2022
Beijing

The annual China Law & Practice Awards is the jurisdiction's most prestigious legal awards ceremony that applauds China's elite.


Learn More

Texas Legal Awards (TXLA) 2022

September 14, 2022
Dallas, TX

The Texas Lawyer honors attorneys and judges who have made a remarkable difference in the legal profession in Texas.


Learn More

Operations/Human Resources Manager- Houston, Texas


The Offices of Domingo Garcia has an Operations\Human Resources manager position in the Houston office. The ideal candidate will have 5+ y...


Apply Now ›

ATTORNEY-Philadelphia-PA


Casualty Defense/Subrogation - commercial lines. Experienced. Flexible with remote working. Great hands-on complex litigation opportunity, g...


Apply Now ›

Finance/Corporate Trust Lawyer - CT or Remote


We are seeking a lawyer with a minimum of five years of experience in transactional work to join our well-established, nationally renowned C...


Apply Now ›

DEASEY, MAHONEY & VALENTINI, LTD.

08/08/2022
TLI Web

DEASEY MAHONEY & VALENTINI LTD is proud to announce that Lauren M. Steins and Leanna B. Ruotanen have been named Partners of the firm.


View Announcement ›

PARRETT, PORTO, PARESE & COLWELL, P.C.

08/08/2022
CLT Web

Parrett, Porto, Parese & Colwell, P.C. welcomes attorneys Alison L. Broad and Andrew I. Schaffer as principals of the firm.


View Announcement ›

MARSHALL DENNEHEY

08/04/2022
TLI Web

Marshall Dennehey Warner Coleman & Goggin mourns the loss of Robert J. Coleman, the last of its founding name partners.


View Announcement ›