Legal Actions by the FDIC to Recover Losses of Failed Banks: A Practical Guide for Directors
- November 11, 2010
David Baris, Sam Buffone, and David Krakoff spoke in a free American Association of Bank Directors webinar, "Legal Actions by the FDIC to Recover Losses of Failed Banks: A Practical Guide for Officers and Directors," on November 11, 2010 from 12-1 P.M. EST.
The FDIC is currently evaluating lawsuits against officers and directors of several hundred banks that the agency has closed in the last two years. Officer and directors of failed banks will face personal liability if it can be shown that they failed to meet their fiduciary duties and that their actions caused losses to the Deposit Insurance fund.
AABD has asked BuckleySandler LLP, one of the Nation's leading financial services law firms, to address issues of critical importance to board members and officers, and the webinar included presentations by partners David Baris, Samuel J. Buffone, and David S. Krakoff. Most importantly, the webinar provided a step-by-step, practical guide to actions that directors can take NOW to protect their interests and the interests of their bank.