Limited Defenses Available Against FDIC As Receiver

Law360, New York (October 01, 2013, 3:18 PM ET) -- As of August 2013, since the fallout from the recent financial crisis, the FDIC as receiver for failed banks has brought suit against former directors and officers of 76 failed institutions.[1] These lawsuits are based on traditional claims of negligence, gross negligence and breach of fiduciary duty. However, they present unique challenges to practitioners who represent the former directors and officers due to the special privileges and role of the FDIC as a governmental entity acting as receiver of a failed bank.

In particular, it is...
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