Fed. Circ. Trims Bank's $14.6M Award From S&L Crisis

Law360, New York (October 21, 2009, 6:41 PM EDT) -- A federal appeals court on Wednesday chipped away at a $14.6 million restitution award granted to Republic Savings Bank FSB in a contract dispute with the government stemming from a merger that took place during the savings and loan crisis of the 1980s.

The U.S. Court of Appeals for the Federal Circuit issued a ruling partly affirming and partly reversing the restitution damages awarded to Republic Savings Bank, Republic Holding Co. and MCB Financial Group Inc. by the U.S. Court of Federal Claims.

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