FDIC Prevails in Suit Blaming IndyMac Execs for Construction Losses

12.11.2012
American Banker

Nossaman is mentioned in the American Banker article "FDIC Prevails in Suit Blaming IndyMac Execs for Construction Losses"  as having represented the FDIC in it's first suit to go to trial among 39 that the agency has brought against the directors of failed banks.  A jury in U.S. District Court for the Central District of California found three former IndyMac executives responsible for more than $168 million in loan losses. 

The article notes that the verdict may prove pivotal for the FDIC in recovering some of the more than $12 billion of losses it suffered in the wake of the lender's bankruptcy.

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