8th Circ. Affirms Cell Providers Breached Billing Co. Contract

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8th Circ. Affirms Breached Billing Contract By Jacob Fischler Editing by Emily Kokoll. All Content © 2003-2017, Portfolio Media, Inc. Law360, Washington (July 17, 2015, 7:57 PM EDT) — The Eighth Circuit ruled Friday that an Iowa federal judge was correct to find that two cellphone service providers owed $260,000 in damages to a former billing contractor, saying the sides’…

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FDIC Wins Coverage Of $71M Suit Against Silverton Execs

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By Emily Field Editing by Bruce Goldman. All Content © 2003-2017, Portfolio Media, Inc Law360, Los Angeles (March 18, 2016, 11:29 PM EDT) — A Georgia federal judge on Friday ruled that Federal Insurance Co. and Westchester Fire Insurance Co. must cover the Federal Deposit Insurance Corp.’s $71 million lawsuit accusing former executives of now-insolvent Silverton Bank NA of breaching…

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Crowe Horwath loses bid to end FDIC lawsuit over Colonial Bank

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9/13/16 REUTERS LEGAL 10:00:01 REUTERS LEGAL Copyright (c) 2016 Thomson Reuters This article is reprinted from Reuters Legal News on Westlaw with permission of Thomson Reuters. September 13, 2016 Dena Aubin (Reuters) – Accounting firm Crowe Horwath must face claims by the Federal Deposit Insurance Corp that it negligently failed to detect a fraud that led to at least $1 billion…

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FDIC Nears Accord In $219M Suit Against Ex-Advanta Execs

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By Stewart Bishop Additional reporting by Linda Chiem. Editing by Richard McVay. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (August 11, 2014, 5:34 PM ET) — The Federal Deposit Insurance Corp. and two former top executives of failed Advanta Bank Corp. are nearing a deal to resolve the independent agency’s $219 million lawsuit accusing the pair of…

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FDIC Hits Colonial Bank Auditors With $1B Negligence Suit

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By Carolina Bolado Additional reporting by Jeff Overley. Editing by Elizabeth Bowen. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (November 2, 2012, 10:19 PM ET) — The Federal Deposit Insurance Corp. on Wednesday sued Colonial Bank’s former auditors PricewaterhouseCoopers LLP and Crowe Horwath LLP for the $1 billion that the now-defunct bank lost in the Taylor Bean…

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FDIC Targets Execs Of Failed Bank In $193M Loan Suit

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By Dan Rivoli Editing by Andrew Park. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (August 24, 2011, 6:25 PM ET) — Two former First National Bank of Arizona officers “sacrificed safety and soundness” when they marketed risky mortgage loans that returned record profits but ultimately caused the bank to fail, the Federal Deposit Insurance Corp. said Tuesday…

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Mayo Sues BP To Collect Oil, Gas Royalties

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By Eric Hornbeck All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (December 3, 2010, 2:47 PM ET) — The Mayo Clinic’s foundation has sued BP PLC subsidiaries for wrongly deducting production and other costs from oil and gas royalties on properties in the Texas panhandle and for failing to properly develop the properties. The Minnesota-based health care provider…

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