FDIC Says $946K House Flip Award Should Be Higher

Law360 (April 2, 2021, 7:58 PM EDT) -- The Seventh Circuit on Friday seemed skeptical of the Federal Deposit Insurance Corp.'s bid for more than $946,000 in a real estate flip case as the court explored whether a trial court committed errors while determining the agency's damages.

The FDIC is asking the court to vacate its judgment against Chicago Title Insurance Co. and Chicago Title and Trust Co. and order their trial judge to instead award it damages that include prejudgment interest and exclude a setoff that she'd imposed in light of a co-defendant's settlement. The lower court entered judgment on the award, which was reduced from $1.45 million,...

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