Tag Archives: FDIC

Sixth Circuit Revives Detroit Law Firm’s $176,000 Claim Against FDIC

Recently, the Sixth Circuit renewed Detroit-based Commercial Law Corporation’s (CLC) lawsuit against the Federal Deposit Insurance Corporation (FDIC) for $176,750 in deferred attorney’s fees for legal services provided by CLC to a now-failed Michigan bank. The Sixth Circuit overturned summary judgment for the FDIC, and while the court did not resolve the unpaid fees claim, … Continue Reading

Sixth Circuit Rejects $500 Million Claim By FDIC

In FDIC v. AmTrustFinancial Corporation, the Sixth Circuit considered the results of the very first trial in the nation under Bankruptcy Code Section 365(o).  Section 365(o) is an infrequently litigated provision of the Bankruptcy Code that requires a party seeking Chapter 11 bankruptcy protection to fulfill “any commitment . . . to maintain the capital … Continue Reading