Anchor Savings Bank, Fsb
In the United States Court of Federal Claims No. 95-39 C (Filed: March 14, 2008) ANCHOR SAVINGS BANK, FSB, Winstar-Related Case; Plaintiff, Foreseeability; Causation; Measure of Damages; Risk v. Assessment; Lost Profits; Mortgage-Backed Securities; Bank Branches THE UNITED STATES OF AMERICA, Defendant. Edwin L. Fountain, Jones Day, Washington, D.C., attorney of record for plaintiff, with whom were George T. Manning, C. Thomas Long, Joseph J. Migas, Adrian Wager-Zito, Debra L. Satinoff and Geoffrey S. Irwin. Patrick T. Murphy and Tarek Sawi, United States Department of Justice, Commercial Litigation Branch, Civil Division, Washington, D.C., with whom were Colleen Hanrahan, Brian J. Mizoguchi, John Todor, Ed Sullivan, Richard Evans, Luke Levasseur, Mark Pittman and Delisa Sanchez. OPINION AND ORDER Block, Judge. I. INTRODUCTION This case is one of the last of the Winstar-related progeny facing this court. It involves a series of contracts in which the government promised to allow the plaintiff, Anchor Savings Bank, FSB (“Anchor”) to account for “supervisory goodwill” as a capital asset that would count toward Anchor’s regulatory capital requirement and be amortized over a 25-to-40 year period. The contracts accompanied Anchor’s acquisition in the 1980s of four failing financial institutions, at the behest and under the supervision of federal thrift regulators. The government hoped those “supervisory” acquisitions would prevent its contingent deposit insurance liability from maturing. Following a change in thrift regulatory policy, however, the 1989 Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”) disallowed substantially all of Anchor’s supervisory goodwill as a capital asset.
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