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BBX CAPITAL v. FEDERAL DEPOSIT INS. CORP

No. 19-11172.

956 F.3d 1304 (2020)

BBX CAPITAL, f.k.a. Atlantic corp, Inc., Plaintiff-Appellant, v. FEDERAL DEPOSIT INSURANCE CORP, in its corporate capacity, Board of Governors of the Federal Reserve Board, Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

April 7, 2020.

Attorney(s) appearing for the Case

Grace Lee Mead , Eugene E. Stearns , Jenea M. Reed , Stearns Weaver Miller Weissler Alhadeff & Sitterson, PA, Miami, FL, for Plaintiff-Appellant.

Duncan Stevens , Erik Bond , Sarah E. Faust , Federal Deposit Insurance Corporation, Appellate Litigation — Legal Division, Arlington, VA, for Defendant-Appellee. FDIC Corp.

Joshua Paul Chadwick , Christopher John Becker , Board of Governors of the Federal Reserve System, Washington, DC, for Defendant-Appellee Board of Governors of Federal Reserve Board.

Before ROSENBAUM, JILL PRYOR, and BRANCH, Circuit Judges.

This case concerns severance payments that Plaintiff-Appellant BBX Capital ("BBX") seeks to make to five former executives of Atlantic (the ""), a federally insured savings that BBX's predecessor-in-interest, Atlantic Bancorp Inc. ("Bancorp"), used to own. Those severance payments were part of a 2011 Stock Purchase Agreement (the "SPA") that...

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