FDIC Receivership: Legal Considerations for Banks and Their Stakeholders
Dealing With the FDIC's Special Powers in Claims Processing and Litigation
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will prepare counsel involved in litigation with an FDIC receivership on the FDIC's special powers when acting as a receiver or conservator of a failed bank. The panel will examine the unique issues that arise in FDIC litigation and outline approaches for litigating on behalf of, or against, the FDIC.
FDIC's role in liquidation of failed banks
Receiver v. conservator
- The claims process
- Priority of claims and the depositor preference rule
- Contingent claims or obligations (lines of credit, letters of credit and guarantees)
- Disregarding unenforceable agreements
- Contract enforcement and effect of ipso facto clauses
- Contract repudiation and damages
- Special rules for qualified financial contracts
- Safe harbor for bank-sponsored securitizations
- Receiver v. conservator
- Mandatory stay of litigation
- Jurisdiction and removal
- Extension of statute of limitations
- Limitation on claims and defenses
- Applicable law
- Actions against directors and officers of failed bank
The panel will review these and other key questions:
- What remedy does a counterparty have when its claim is disallowed by the FDIC?
- What protections exist for qualified financial contracts like securities contracts, commodities contracts, forward contracts and swap agreements?
- How does the FDIC's rule for safe harbor treatment of securitizations and participations change the standards for the safe harbor protection?
- What effect does the automatic stay have on existing litigation against the failed institution?
- What are the most recent developments in Federal Deposit Insurance Corporation litigation against directors and officers of failed banks? Recent rulings on standard of care and affirmative defenses. Discovery issues. Settlements and personal liability.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Dennis S. Klein
Hughes Hubbard & Reed
Mr. Klein specializes in handling complex commercial litigation, including officer and director liability lawsuits;... | Read More
Mr. Klein specializes in handling complex commercial litigation, including officer and director liability lawsuits; bank insolvency problems; product liability/mass tort litigation; healthcare issues; bankruptcy matters; and contract, lease, pension plan, and co-branded credit card disputes.Close
Mr. Glancz represents financial institutions of every type and represents companies and investors seeking to... | Read More
Mr. Glancz represents financial institutions of every type and represents companies and investors seeking to become or acquire a bank. He also represents directors and officers of financial institutions. He focuses on bank and thrift regulation, supervision and enforcement, M&As, new financial products and services, corporate governance, FDIC issues, and Bank Secrecy Act compliance.Close
Luigi L. De Ghenghi
He focuses on bank regulatory advice, including Dodd-Frank Act implementation, M&A and capital markets... | Read More
He focuses on bank regulatory advice, including Dodd-Frank Act implementation, M&A and capital markets transactions for banks and other financial institutions. He advises banks and financial institutions on corporate governance and compliance matters, bank insolvency issues, government investigations and enforcement actions, cross-border collateral transactions, clearance and settlement systems.Close