FDIC's Suit Against Failed Bank's Executives Can Proceed, Judge Rules

FDIC's Suit Against Failed Bank's Executives Can Proceed, Judge Rules

CHICAGO - A federal judge in Illinois on Sept. 3 refused to dismiss a suit the Federal Deposit Insurance Corp. filed against executives of a failed bank to recover on approximately $33 million in loans, finding that the FDIC's allegations are sufficient to survive the defendants' motion to dismiss (Federal Deposit Insurance Corp. v. Faye T. Pantazelos, et al., No. 13-2246, N.D. Ill.; 2013 U.S. Dist. LEXIS 125091).

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