Federal Deposit Insurance Corporation v. FBOP Corporation et al

  1. January 06, 2015

    FDIC, FBOP Agree To Prioritize Tax, Senior Lien Disputes

    The Federal Deposit Insurance Corp. and FBOP Corp. agreed Monday in Illinois federal court to put litigation over the FDIC's subordinated-debt lien and overpayment claims on hold until the court had resolved the parties' disputes over tax refund ownership and senior liens.

  2. September 16, 2014

    FDIC Wants FBOP's 'Unclean Hands' Defense Struck

    FBOP Corp. can't invoke the "unclean hands" doctrine to claim that the Federal Deposit Insurance Corp. acted in bad faith by becoming a receiver for its funds because the agency didn't assume that role under its own authority, the FDIC told an Illinois federal court on Monday.

  3. September 03, 2014

    Pensioners Get To Fight for Piece of $265M FBOP Pie

    An Illinois federal judge Tuesday gave Pension Benefit Guaranty Corp. permission to intervene in a suit launched by the Federal Deposit Insurance Corp. against the FBOP Corp. to seek its share of a $265 million tax refund that was mistakenly transferred to FBOP.

  4. August 27, 2014

    Banks Say They're Entitled To Debtor's Tax Interest

    Defunct financial company FBOP Corp. and two banks it owed money filed motions in Illinois federal court on Tuesday to prevent the Federal Deposit Insurance Corporation from claiming that the bankrupt company's transfers of liens to the banks were fraudulent.

  5. June 12, 2014

    FBOP Can't Grab $265M Bank Tax Refunds, FDIC Says

    The Federal Deposit Insurance Corp. sued FBOP Corp. in Illinois federal court Tuesday claiming the now-shuttered financial company cannot claim $265 million in tax refunds generated by several failed subsidiary banks because the banks earned the income and incurred the losses that generated refunds.