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Bluebonnet Savings Bank, F.S.B. v. United States

In a case where summary judgment was entered against the government holding that the passage of the Financial Institutions Reform, Recovery, and Enforcement Act, its implementing regulations and related agency actions breached a contract between plaintiff and the government, court's award of no damages to plaintiff reversed because plaintiff adequately substantiated the damages it suffered.

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Appealed from: United States Court of Federal Claims Judge Bohdan A. Futey

Bluebonnet Savings Bank, FSB, Stone Capital, Inc. (formerly known as CFSB Corporation), and James M. Fail (collectively “Bluebonnet”) appeal the judgments of the United States Court of Federal Claims (1) holding on summary judgment that the passage of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), Pub. L. 101-73, 103 Stat. 183 (1989), and its implementing regulations and related agency actions, breached a contract between Bluebonnet and the government, Bluebonnet Savings Bank v. United States, 43 Fed. Cl. 69, 72, 80 (1999) (“Bluebonnet I”), but (2) awarding no damages, Bluebonnet Savings Bank v. United States, 47 Fed. Cl. 156 (2000) (“Bluebonnet II”). We reverse and remand.

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