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Back to the Future: A New Wave of FDIC Litigation. The Round-Up…. Moderator : Diane Parker Esq. , Assistant Vice President, Professional Liability Claims, Allied World Assurance Company Panelists : Gary V. Dixon, Esq. , Partner, Troutman Sanders LLC

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Presentation Transcript
slide1

Back to the Future:

A New Wave of FDIC Litigation

the round up
The Round-Up…

Moderator:

  • Diane Parker Esq., Assistant Vice President, Professional Liability Claims, Allied World Assurance Company

Panelists:

  • Gary V. Dixon, Esq., Partner, Troutman Sanders LLC
  • Susan N.K. Gummow, Esq., Partner, Butler Pappas Weihmuller KatzCraig LLP
  • Jennifer Nierenberg Metzger, Esq., Complex Claims Director, CNA Corporate and Financial Claims
  • Floyd “Rob” Robinson, Esq., Senior Counsel, Professional Liability and Financial Crimes Unit, Federal Deposit Insurance Corporation
temporal displacement has occurred
“Temporal displacement has occurred…”
  • Destination Time: The Banking Crisis of the 1980s
  • Present Time: The Financial Crisis of 2008 - ?
  • “Not That There’s Any Danger”:

Litigating with the FDIC

  • “Who’s Gonna Pay for THIS?”

D&O Coverage, Then & Now

slide4

“I gave you explicit instructions

not to come here,

but to go directly back to 1985!”

the banking crisis of the 1980s
The Banking Crisis of the 1980s
  • Profile of Bank and S&L Failures
  • Causes of Bank and S&L Failures
  • RTC and FDIC Professional Liability Claims
  • Observations About the 1980s Crisis
slide6

“I had to wait 30 years

to catch up to you.”

the financial crisis of 2008
The Financial Crisis of 2008 - ?

Profile of Bank Failures

Causes of Bank Failures

FDIC Professional Liability Claims

Observations About the Current Crisis

litigating with the fdic
Litigating with the FDIC
  • Pre-Suit Investigations and Demands
  • Dual Role of FDIC (conservator/receiver)
  • Special Statutory Powers of the FDIC
  • FDIC as Intervener: Impact on Third Parties
d o insurance issues
D&O Insurance Issues

Common coverage issues in FDIC D&O litigation

(then and now)

  • Definition of Claim
  • Notice of Claim / Circumstance
  • Exclusions
    • Regulatory
    • Insured v. Insured
    • Specific Claim / Litigation / Event
    • Prior Notice / Interrelated Wrongful Acts
    • Prior or Pending / Prior Act
slide16

“Where you’re going,

there are no roads.”

many thanks to
Many Thanks To…
  • Diane Parker
  • Gary Dixon
  • Susan Gummow
  • Jennifer Nierenberg Metzger
  • Floyd “Rob” Robinson