Fed. Circ. Nixes $26M Contract Ruling For Failed Thrift

Law360, New York (September 23, 2009, 6:45 PM EDT) -- In a lingering dispute stemming from the savings and loan debacle of the 1980s, a federal appeals court has found that the United States did not breach a contract with the former First Home Federal Savings and Loan Association by passing a law that barred the use of goodwill as regulatory capital, reversing a trial court’s decision.

The U.S. Court of Appeals for the Federal Circuit on Sept. 22 found that correspondences between the thrift and government authorities referencing goodwill did not constitute a contract entered...
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