F.D.I.C. v. U.S.

Nos. 02-5159, 02-5162.

342 F.3d 1313 (2003)

FEDERAL DEPOSIT INSURANCE CORPORATION, As Successor to the Rights of Karnes County Savings and Loan Association, Plaintiff-Appellant, and Quincy Lee and Steven Lee, Plaintiffs-Appellants, v. UNITED STATES, Defendant-Appellee.

United States Court of Appeals, Federal Circuit.

Decided September 4, 2003.


Attorney(s) appearing for the Case

John V. Thomas, Associate General Counsel, FDIC Legal Division, of Washington, DC, argued for plaintiff-appellant Federal Deposit Insurance Corporation, as Successor to the Rights of Karnes County Savings and Loan Association. With him on the brief were Jon A. Stewart, of Washington, DC; and Stephen C. Zachary, and Ellis Merritt, Jr., FDIC Legal Division, of Dallas, Texas. Of counsel were John M. Dorsey, III and Dorothy A. Doherty, FDIC, of Washington, DC.

Paul Blankenstein, Gibson, Dunn & Crutcher LLP, of Washington, DC, argued for plaintiffs-appellants Quincy Lee and Steven Lee. With him on the brief was John C. Millian.

Scott D. Austin, Trial Attorney, Commercial Litigation Branch, Civil Division, Department of Justice, of Washington, DC, argued for defendant-appellee. With him on the brief were Stuart E. Schiffer, Deputy Assistant Attorney General; David M. Cohen, Director; Jeanne E. Davidson, Deputy Director; Daniel D. McClain and David D. Zimmerman, Trial Attorneys.

Before NEWMAN, Circuit Judge, FRIEDMAN, Senior Circuit Judge, and SCHALL, Circuit Judge.


FRIEDMAN, Senior Circuit Judge.

This is a Winstar related case, growing out of the failure of a federally-insured savings and loan association that resulted from the enactment of a federal statute that barred such institution (also known as a "thrift") from using an accounting method that the federal regulatory agency for the thrift had authorized it to use. The Court of Federal Claims dismissed a damage suit by stockholders of the failed thrift based on the...

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