California Federal Bank, Fsb, Plaintiff-Cross v. United States

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that lost profits on the use of supervisory goodwill as regulatory capital are recoverable as damages.
• recognizing the existence of extensive negotiations as further evidence of the intent of the parties to use goodwill for regulatory purposes
• finding that “Cal Fed specifically requested approval from the Federal Home Loan Bank Board (FHLBB) to amortize goodwill created by this acquisition over the estimated useful life of 35 years.”
• stating that the relevant issue was whether “the factual records of individual cases show intent to contract with the government for specified treatment of goodwill, and documents such as correspondence, memoranda, and Bank Board resolutions confirm that intent”
• identifying “extensive negotiations” as evidence of an intent by both parties to count supervisory goodwill toward regulatory capital
• approving lower court’s discounting of plaintiffs experts’ “testimony that the cost of replacing $390 million of goodwill was nearly a billion dollars” for reasons of credibility, and affirming award based on defendant’s estimate

Source: CourtListener parenthetical corpus (CC0).