- 11 - 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 partiesPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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