Grant Thornton, LLP v. Office of the Comptroller of the Currency, 514 F.3d 1328 (D.C. Cir. 2008) (argued for OCC) (holding that an accounting firm was not subject to a cease-and-desist order or a CMP for accounting malpractice in failing to discover a massive fraud by a national bank in which half of its claimed […]... [Read more...]
Fraud and Prior Material Breach
While at the Department of Justice, FDIC, and OCC, Jerry tried and argued on appeal cases involving fraud and prior material in connection with (i) high-stakes, complex litigation involving the merger of failing banks with healthy banks, (ii) closing protection letters issued by title insurance companies, (iii) enforcement actions brought by federal banking agencies, and (iv) the resolution of the affairs of failed banks.
Flagler Investment Marietta, LLC v. Multibank 2009—1 CRE Venture, LLC, 663 Fed. Appx. 747 (11th Cir. 2015) (lead counsel for FDIC) (in a suit brought by Flagler against Integrity Bank for breach of a loan agreement regarding a loan made by a failed bank that was transferred by FDIC as receiver to Integrity, the district […]... [Read more...]
FDIC v. First American Title Ins. Co., 611 Fed. Appx. 522 (11th Cir. 2015) (argued for FDIC) (holding that (i) FDIC, as receiver, retained under the terms of the purchase and assumption agreement (P&A Agreement) all claims related to acts or omissions that caused a loss to the bank, (ii) FDIC could bring a breach-of-contract […]... [Read more...]
JPMorgan Chase Bank, N.A. v. First American Title Ins. Co., 750 F.3d 573 (6th Cir. 2014) (argued for FDIC) (holding that FDIC, as receiver, could bring a breach-of-contract action against a title insurance company based upon the terms of a closing protection letter (CPL) issued by the company whereby it agreed to indemnify the bank […]... [Read more...]
Grant Thornton, LLP v. FDIC, 435 Fed. Appx. 188 (4th Cir. 2011) (affirming an award of over $20 million to FDIC as receiver for the same bank against the same accounting firm based on accounting malpractice, favorably citing the observation of the concurring judge in the opinion of the District of Columbia Circuit that the […]... [Read more...]
In the matter of Carlos Loumiet, Former Counsel to Hamilton Bank, N.A. (Closed), Miami, Florida, Final Decision and Order, OCC-AA-EC-06-102 (July 27, 2009) (served as “decisional counsel,” 12 C.F.R. § 19.40(c)) (in rendering a final decision in connection with a recommendation by an administrative law judge (ALJ) against imposing a cease-and-desist order and civil money […]... [Read more...]