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remaining causes of action, and recommending the approval of the
settlement offer. In a section entitled “AMOUNT OF CLAIM”, the
FDIC attorney stated that petitioner alleged that “he has been
damaged in the amount of the value of his stock in the radio
station asset”. In a section entitled “CURRENT STATUS AND
ESTIMATES”, the FDIC attorney stated that “this is a complicated
case involving many complex legal issues which could cause
difficulty for a jury and, therefore, create uncertainty as to
the outcome. It is clear that Mason plans to make an emotional
argument to the jury claiming he was the innocent party and * * *
[First City Bank] destroyed his dream of owning a radio station.”
The FDIC attorney, however, did not specifically address a harm
to business reputation claim.
On August 31, 1995, the FDIC approved the settlement offer.
Sometime after the FDIC approved the settlement, the FDIC
attorney coordinated the drafting of a Mutual Settlement and
Indemnification Agreement (settlement agreement). Before the
drafting of the settlement agreement, the FDIC attorney was not
aware of any claim by petitioner that First City Bank had harmed
his business reputation. On September 8, 1995, the FDIC prepared
a check in the amount of $550,000, payable to petitioner.
Drafting of the Settlement Agreement
The draft of the settlement agreement dated September 10,
1995, contained an introductory paragraph listing the parties
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