FDIC and Other Banking Agency Litigation Against Auditors, Law Firms, Appraisers and Other Outside Advisors

Latest Developments in Defending Agency Claims and Maximizing E&O Insurance Coverage

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, August 7, 2014

Recorded event now available

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Program Materials

This CLE webinar will provide banking counsel with a review of current theories behind claims against outside advisors and professionals to failed banks. The panel will outline common defenses for outside professionals and offer best practices for maximizing E&O insurance coverage.

Description

In the wake of the banking crisis, the FDIC is aggressively seeking recovery from outside advisors and professionals of failed banks. These advisors include law firms, real estate appraisers, accountants and auditors. The FDIC disclosed that to date it has authorized 58 attorney and appraiser malpractice suits, residential mortgage-backed securities and LIBOR claims, and insurance and fidelity bond cases.

While the FDIC has been aggressively seeking recovery from appraisers, many accounting and law firms have been sued as well. The FDIC’s actions demonstrate it is looking beyond just bank directors and officers to recoup losses from the banking crisis. At-risk advisors to failed institutions should review coverage under applicable E&O insurance policies and anticipate policy exclusions that insurers will most likely raise.

Listen as our authoritative panel of experienced practitioners discusses trends in FDIC suits against outside professionals of failed banks, analyzes theories behind the suits and common defenses, and reviews E&O insurance coverage issues.

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Outline

  1. Overview of recent FDIC litigation activity
  2. Theories of liability and defenses for auditors
  3. Theories of liability and defenses for law firms
  4. Theories of liability for appraisers and other outside professionals
  5. Strategies for maximizing available E&O insurance

Benefits

The panel will address these and other key questions:

  • What are the latest developments in FDIC litigation against outside advisors of failed banks?
  • What theories has the FDIC advanced against various outside professionals?
  • What are the most viable defenses available to defendants?

Faculty

Roberta D. Anderson
Roberta D. Anderson

Partner
K&L Gates

Ms. Anderson has over fifteen years of experience in complex commercial litigation and alternative dispute...  |  Read More

Vartanian, Thomas
Thomas P. Vartanian

Partner
Dechert

Mr. Vartanian is a corporate counselor, regulatory advisor, litigator and deal maker who has represented a wide variety...  |  Read More

John K. Villa
John K. Villa

Partner
Williams & Connolly

Mr. Villa focuses his practice on corporate, securities and financial services-related litigation (both civil and...  |  Read More

Ryan T. Scarborough
Ryan T. Scarborough

Partner
Williams & Connolly

Mr. Scarborough has successfully defended financial institutions and their directors and officers against threatened or...  |  Read More

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