Von Rohr v. FDIC, 826 F.3d 1046 (8th Cir. 2016) (lead counsel for FDIC) (in a suit brought by the former chief executive officer against his former bank and the FDIC alleging that bank breached his employment contract and challenging FDIC’s decision that payment thereunder would constitute a prohibited golden-parachute payment, the court of appeals […]... [Read more...]
Financial-Institution Golden-Parachute Law
We have significant appellate experience litigating golden parachute cases involving financial institutions. When an bank or bank holding company has been designated as an institution in “troubled condition” by its primary federal regulator, the institution may not pay post-employment compensation that falls within the definition of a golden parachute in 12 U.S.C. § 1828(k)(4) to a former institution-affiliated party (IAP) without the authorization of the FDIC.
Vaught v. Green Bankshares, Inc., 2016 WL 1594963 (Tenn. App. Knox. April 28, 2016) (lead counsel for FDIC as amicus curiae) (vacating an award of $849,240 to a former president and chief operating officer of a bank in troubled condition under an employment contract because a payment in excess of $521,497 was prohibited as a […]... [Read more...]
Harrison v. Ocean Bank, 614 Fed. Appx. 429 (11th Cir. 2015) (lead counsel for FDIC) (affirming under the APA a final decision of the FDIC that the payment of compensation under a settlement agreement between a bank and its fired senior vice president to stave off a suit for discrimination and retaliation fell within the […]... [Read more...]