95-468C • Astoria Federal Savings & Loan Association
In the United States Court of Federal Claims No. 95-468C (Filed: January 8, 2008) ************************************* * * ASTORIA FEDERAL SAVINGS & LOAN * ASSOCIATION, * * Winstar Damages Claim; Plaintiff, * * Expectancy, Restitution and Reliance v. * Damages; Causation, Foreseeability, * and Reasonable Certainty of Lost THE UNITED STATES, * Profits; “Wounded Bank” Damages. * Defendant. * * ************************************* * Frank J. Eisenhart, with whom were Catherine Botticelli, Tara R. Kelly, Catherine Stahl, and Craig Falls, Dechert LLP, Washington, D.C., for Plaintiff. John H. Roberson, with whom were Michael F. Hertz, Deputy Assistant Attorney General, Jeanne E. Davidson, Director, and Kenneth M. Dintzer, Assistant Director, United States Department of Justice, Commercial Litigation Branch, Civil Division, Washington, D.C., Arlene Pianko Groner, Elizabeth M. Hosford, Brian A. Mizoguchi, John J. Todor, and Sameer Yerawadekar, Of Counsel, for Defendant. OPINION AND ORDER WHEELER, Judge.1 In this Winstar case, the Court must determine the damages due Plaintiff from Congress’s passage of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub. L. No. 101-73, 103 Stat. 183 (1989) (“FIRREA”). The legal theory in Winstar 1 This case was transferred to Judge Thomas C. Wheeler on June 1, 2006, pursuant to Rule 40.1(b) of the Rules of the Court of Federal Claims. cases is that FIRREA’s restrictions on the inclusion of goodwill in regulatory capital constitute a breach of the Government’s Assistance Agreement created when one thrift institution acquired another during the savings and loan industry crisis in the 1980s. See United States v. Winstar Corp., 518 U.S. 839 (1996). The present case arises from the October 31, 1984 acquisition of Suburbia Federal Savings & Loan Association (“Suburbia”) by Fidelity New York, F.S.B.
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