Federal Deposit Insurance Corporation v. FBOP Corporation et al

  1. March 29, 2018

    FDIC Settles Tax Refund Row With Defunct Ill. Co. For $240M

    The Federal Deposit Insurance Corp., a receiver for eight failed banks formerly owned by a defunct Illinois-based company, reached a $240 million settlement with the now-shuttered financial company, a spokesperson for the FDIC said Thursday.

  2. November 27, 2017

    PBGC's Claim To Failed Bank Co.'s $30M Refund Survives

    A Chicago federal judge on Monday rejected a request by FBOP Corp., the owner of several failed banks, and a trustee to dismiss the Pension Benefit Guaranty Corp.'s effort to recover $30 million from a tax refund that the PBGC said was supposed to have never been paid out.

  3. August 31, 2017

    FBOP Can't Pause $276M Tax Refund Row For Pension Fight

    An Illinois federal judge denied an attempt by defunct banking company FBOP Corp. and other parties to pause discovery in a suit over a $276 million tax refund Thursday, although FBOP may take further steps to ditch the Pension Benefit Guaranty Corp.’s claim for $30 million.

  4. August 29, 2017

    FBOP Wants $276M Tax Refund Row Stayed For Pension Fight

    Defunct banking company FBOP Corp. and other parties in a suit over a $276 million tax refund pushed for an Illinois federal judge to pause the dispute Monday as FBOP attempts to jettison the Pension Benefit Guaranty Corp.’s claim for $30 million.

  5. May 15, 2017

    FDIC Scores Partial Victory In $265M Tax Refund Row

    Defunct holding company FBOP Corp. will have to hand over some of a $265 million tax return to eight banks overseen by the Federal Deposit Insurance Corp., though the Illinois federal judge who ordered the forfeiture said he was yet unsure how much it should be.

  6. October 02, 2015

    FBOP Argues It Isn't Subject To Pension Agency's Claims

    Defunct banking company FBOP Corp. on Friday said in Illinois federal court that it should not have to pay a portion of a $265.3 million tax refund to the Pension Benefit Guaranty Corp., arguing the federal government-created retirement income agency is trying to renege on a settlement agreement.

  7. August 24, 2015

    FDIC Pushes For End To $265M Tax Row With Failed Banks

    The Federal Deposit Insurance Corp. asked an Illinois federal court Friday to quickly find that a $265.3 million tax refund for banking company FBOP Corp. belongs to the FDIC, claiming the company misinterpreted the agreements it relied on in its arguments.

  8. July 10, 2015

    FDIC Says It Owns $276M In Tax Refunded To FBOP Units

    The Federal Deposit Insurance Corp. fired back at FBOP Corp.'s bid to toss several claims in a $275.6 million tax refund battle, arguing Thursday that the agency is the refunds' presumptive owner and that the bank's tax agreement with subsidiaries was ambiguous.

  9. May 04, 2015

    FBOP Says It Owns Units' $275M In Refunds In FDIC Fight

    FBOP Corp. on Friday maintained that it is entitled to $275.6 million in tax refunds generated by eight failed subsidiary banks, telling an Illinois federal judge that a tax allocation agreement it inked with the banks created ownership over the refunds.

  10. April 01, 2015

    JPMorgan, BMO Can't Nix Fraud Bids In $276M Tax Refund Suit

    An Illinois federal court on Tuesday denied attempts by JPMorgan Chase Bank NA and BMO Harris Bank MA to dismiss claims of fraud brought against them by the Federal Deposit Insurance Corp. in a battle over the ownership of  $275.6 million in tax refunds.