1st Home Liquidating Trust v. US, No. 08-5050

In a Winstar-related case, judgment by the court of federal claims holding that the government's enactment of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) breached the government's contractual promise to allow favorable accounting treatment of supervisory goodwill is reversed and remanded as the government lacked the requisite intent to enter into a contract with plaintiff regarding treatment of goodwill to be generated by plaintiff's conversion, no contract was formed, and thus, there was no breach.     

Read 1st Home Liquidating Trust v. US, No. 08-5050

Appeal from:  United States Court of Federal Claims

Decided September 22, 2009

Judges

Before Mayer, Gajarsa, and Dyk, Circuit Judges

Opinion by Gajarsa, Circuit Judge.   

Counsel

For Appellant:  Jerry Stouck, Greenberg Traurig, LLP

For Appellee:  Kenneth M. Dintzer, Associate Director, Commercial Litigation Branch, Civil Division, United States Department of Justice.