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Petitioner’s Administrative Claim Against the FDIC
On February 8, 1993, petitioner filed an administrative
claim with the FDIC, as the receiver for First City Bank, in the
amount of $3 million. On July 13, 1993, petitioner amended his
claim to $2.5 million plus interest. On January 26, 1994,
petitioner’s claim was denied by the FDIC for failure to provide
sufficient information to support a provable claim.
Petitioner’s Complaints Filed in U.S. District Court
Petitioner retained the services of Leonard Simon (Mr.
Simon), a commercial litigator and bankruptcy attorney, who
evaluated several potential causes of action against the FDIC as
receiver for First City Bank. On March 28, 1994, petitioner
filed a complaint against the FDIC alleging four causes of
action: (1) Count I: Breach Of Warranty, (2) Count II: Texas
Deceptive Trade Practices - Consumer Protection Act, (3) Count
III: Tortious Interference, and (4) Count IV: Conspiracy. On
August 18, 1994, petitioner filed an amended complaint alleging
an additional cause of action entitled Count V: Breach Of The
Duty Of Care Owed By A Pledgee Of Stock. We refer generally to
petitioner’s complaint and amended complaint as petitioner’s
lawsuit.
Petitioner’s amended complaint contained a section entitled
“The Facts” which recited relevant facts serving as the basis of
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