Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

D & N Bank v. United States

The Federal Circuit affirmed the Court of Federal Claims' summary judgment for the government of no contract liability on a breach of contract claim by a thrift institution; the court held that the plaintiff had failed to show that its merger with another thrift institution constituted an express or implied-in-fact contract with the government.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Before the United States Court of Federal Claims, D & N Bank (“D&N”) sought damages in a breach of contract action that it argued arose from the 1989 enactment of the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”), Pub. L. No. 101-73, 103 Stat. 183 (1989). D&N now appeals the decision of the United States Court of Federal Claims granting the government’s motion for summary judgment of no contract liability. D & N Bank v. United States, No. 95-539(C) (Fed. Cl. 2002) (order memorializing hearing on dispositive motions and resolving merits of count I of complaint). Because D&N has not demonstrated that there was a contract that could have been breached by FIRREA, we affirm.

Background

D&N maintains that the government breached an express or implied-in-fact contract guaranteeing D&N the right to designate as regulatory capital approximately $57 million in goodwill arising from D&N’s acquisition of another thrift, First Federal Savings and Loan Association of Flint (“First Federal”). *fn1 D&N also argued that it had a contract-based right to amortize the goodwill over a period of forty years.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
British Legal Awards 2024
November 27, 2024
London

Celebrating achievement, excellence, and innovation in the legal profession in the UK.


Learn More
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - December 03, 2024
Scottsdale, AZ

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!


Learn More
ThinkAdvisor LUMINARIES Awards 2024
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
Go to Events Go to Webcasts
FEDERAL PUBLIC DEFENDER VACANCY MIDDLE DISTRICT OF PENNSYLVANIA

FEDERAL PUBLIC DEFENDER VACANCY MIDDLE DISTRICT OF PENNSYLVANIA Refer to: www.ca3.uscourts.gov for detailed announcement...


Apply Now ›
BUSINESS LITIGATION ASSOCIATE -- BOSTON, MA

The Business Litigation Group of the Boston office of McCarter & English seeks a litigation associate with 3-5 years of business litigat...


Apply Now ›
TRUSTS & ESTATES ATTORNEY

McCarter and English is actively seeking a trusts and estates associate for our Newark, NJ office with 3-5 years of experience in estate pla...


Apply Now ›
Go to Lawjobs