First National Sues To Keep $10M Tax Refund From FDIC

Law360, New York (December 12, 2013, 3:31 PM EST) -- First National Bank Group Inc., the Texas-based parent company of a failed bank controlled by the Federal Deposit Insurance Corp., asked a federal judge Wednesday to declare it the owner of a more than $10 million tax refund the FDIC has staked a claim to.

The parent of First National, a retail bank the FDIC took charge of in September after it was battered by tens of millions of dollars in losses from bad mortgages, told a Texas federal judge it filed a consolidated 2012 tax...
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