Collections suit for the FDIC as Receiver for Silverton Bank

Represented the Federal Deposit Insurance Corporation, as Receiver for Silverton Bank (FDIC-R), in three separate federal court actions against borrowers and guarantors who defaulted on loans made by Silverton Bank, which failed in 2009. In each of the three cases, summary judgment was granted to the FDIC-R on its claims for breach of contract, interest, and attorneys’ fees in the aggregate amount of more than $10 million. The rulings in these lawsuits confirm that loan documents cannot be avoided by alleged oral modifications, especially by purported agents of the FDIC-R.