High Court Won't Hear $14M S&L Crisis Case Against US

Law360, New York (April 30, 2012, 8:31 PM EDT) -- The U.S. Supreme Court declined Monday to review a Federal Circuit decision that First Annapolis Bancorp Inc. lacks standing to pursue a $13.7 million claim against the U.S. for breaking a regulatory forbearance agreement made to facilitate a merger during the 1980s savings-and-loan crisis.

The Federal Circuit had ruled that First Annapolis Bancorp can't sue the government for reneging on the agreement with its banking subsidiary First Annapolis Savings Bank FSB, a ruling the company told the Supreme Court in January "upset settled principles of contract...
To view the full article, register now.
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.