Developer Sues FDIC For $2.4M Over Failed Vegas Project

Law360, New York (November 10, 2011, 3:45 PM EST) -- Westwind Meranto LLC sought $2.4 million in damages from the Federal Deposit Insurance Corp. in Nevada federal court Thursday, claiming the FDIC broke a loan contract from a bank it had taken over, causing Westwind’s Las Vegas development project to fail.

Westwind Meranto claims the government regulator and Silver State Bank, which the FDIC took over in 2008, didn't provide a loan payment for $170,572 made before the bank collapsed. The FDIC also failed to sufficiently communicate its takeover of the bank and continued to seek interest payments on loans already provided,...
To view the full article, register now.




Case Information

Case Title

Westwind Meranto, LLC v. Federal Deposit Insurance Corporation

Case Number




Nature of Suit

Banks and Banking


Philip M. Pro

Date Filed

November 9, 2011


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.