High Court Won't Hear $14M S&L Crisis Case Against US

Law360, New York (April 30, 2012, 8:31 PM EDT) -- The U.S. Supreme Court declined Monday to review a Federal Circuit decision that First Annapolis Bancorp Inc. lacks standing to pursue a $13.7 million claim against the U.S. for breaking a regulatory forbearance agreement made to facilitate a merger during the 1980s savings-and-loan crisis.

The Federal Circuit had ruled that First Annapolis Bancorp can't sue the government for reneging on the agreement with its banking subsidiary First Annapolis Savings Bank FSB, a ruling the company told the Supreme Court in January "upset settled principles of contract...
To view the full article, register now.