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bank
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Kevin M. LaCroix
over 11 years ago
Insurance Law
Insurance Coverage
Directors and Officers Insurer Sued By FDIC Over Bank Failure
By Kevin M. LaCroix, Esq., Executive Vice President, OakBridge Insurance Services In the FDIC's latest lawsuit filed in its role as receiver of a failed bank, the FDIC not only named as defendants nineteen former directors and officers of the...
Kevin M. LaCroix
over 11 years ago
Insurance Law
Insurance Law Blog
Directors and Officers Insurer Sued By FDIC Over Bank Failure
By Kevin M. LaCroix, Esq., Executive Vice President, OakBridge Insurance Services In the FDIC's latest lawsuit filed in its role as receiver of a failed bank, the FDIC not only named as defendants nineteen former directors and officers of the...
Kevin M. LaCroix
over 11 years ago
Litigation
Litigation Blog
Former Colonial Bank Executives Agree To Settle Class Action Lawsuit For $10.5 Million
In a settlement that apparently will be funded entirely by D&O insurance, the plaintiffs and 23 former executives of the failed Colonial Bank of Montgomery, Alabama have agreed to settle the class action securities lawsuit that investors filed in...
Kevin M. LaCroix
over 12 years ago
Banking and Finance
Banking & Finance Law Blog
Is the FDIC Staking Out Its Territory or Extending Its Borders?
With one lone exception , the FDIC has not yet itself pursued litigation against the directors and officers of a failed financial institution. However, the FDIC has already made it clear that it intends to assert its rights under FIRREA as the receiver...
Kevin M. LaCroix
over 11 years ago
Banking and Finance
Banking & Finance Law Blog
FDIC Sues Former Officers of Failed California Bank
In its latest failed bank lawsuit, the FDIC, in its capacity as receiver of the failed County Bank of Merced, California, has filed a complaint against five former officer of the bank. The FDIC's complaint was filed in the United States District...
Kevin M. LaCroix
over 12 years ago
Banking and Finance
Banking & Finance Law Blog
FDIC Lawsuits: Coming Soon to Failed Banks Near You?
The FDIC has authorized more than 50 lawsuits against former directors and officers of failed banks, according to an October 8, 2010 Bloomberg article . But merely because the lawsuits have been authorized does not necessarily mean we will see 50 lawsuits...
Kevin M. LaCroix
over 10 years ago
Banking and Finance
Banking & Finance Law Blog
D&O Insurance: Subsequent IndyMac Bank Claims Interrelated with Prior Suit, Precluding Coverage for Later Claims under Second Insurance Program
One of the perennial D&O insurance coverage questions is whether or not subsequent claims are "interrelated" with a prior claim and therefore deemed first made at the time of the prior claim. This question can be particularly critical when...
LexisNexis Litigation Resource Community Staff
over 12 years ago
Litigation
News Headlines
FDIC Sues 3 Former Top Executives Of Failed WaMu
WASHINGTON, D.C. - (AP) Federal bank regulators have sued three former top executives of Washington Mutual, the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending. The Federal Deposit Insurance Corp. filed the...