Judge Boots $52M Winstar Suit On Remand

Law360, New York (April 13, 2011, 7:38 PM EDT) -- A federal judge on Tuesday nixed the remaining claims in a long-running suit against the U.S. over broken agreements made during the savings and loan crisis in the 1980s, leaving bank shareholders empty-handed after an appeals court tossed a previous $52 million judgment.

Judge Loren A. Smith of the U.S. Court of Federal Claims rejected claims for $6.8 million in rescission and restitution by shareholders of the former Benjamin Franklin Federal Savings and Loan Association, following the U.S. Court of Appeals for the Federal Circuit's decision...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.