A close friend asked AI Grok some questions. Here is the answer
Here is the answer:
The FDIC does not appear to have appealed Judge Buchwald's September 25, 2025, summary judgment in the U.S. multidistrict litigation (In re LIBOR-Based Financial Instruments Antitrust Litigation, No. 11-MDL-2262). No public records or reports indicate that a notice of appeal was filed with the Second Circuit within the applicable 60-day window (which expired around November 24, 2025), and the dismissal has been widely described as a complete resolution of the remaining claims.
This aligns with prior partial settlements in the case (e.g., with Bank of America, Citigroup, and JPMorgan) and the court's rejection of the conspiracy and suppression theories as lacking evidence.
Regarding ongoing pursuit of claims against foreign banks like Barclays or Royal Bank of Scotland (now part of NatWest Group) in England: The FDIC, as receiver for 20 failed banks (including United Western Bank), initiated parallel proceedings in the UK High Court in 2017 (FDIC as Receiver for Amcore Bank, N.A. and Ors v. Barclays Bank PLC & Ors, No. FL-2017-000002). This involved similar allegations of USD LIBOR suppression and collusion under EU/UK competition law and U.S. state tort law, targeting Barclays, Bank of Scotland (part of Lloyds), Rabobank, Deutsche Bank, Lloyds, NatWest/RBS, UBS, and the British Bankers' Association.
A 19-week trial had been scheduled to begin February 23, 2026. However, the FDIC reached global settlements with all defendants in 2025: one with Deutsche Bank AG on April 16, 2025, and another with the remaining seven defendants (including Barclays, Lloyds entities, NatWest/RBS entities, Rabobank, UBS, and BBA entities) on June 30, 2025. These agreements resolved both the UK and U.S. claims without admission of liability, dismissing the actions with prejudice and each party bearing its own costs. As a result, there is no trial proceeding in early 2026 (or at all), and the FDIC has concluded its pursuit of these LIBOR-related claims on behalf of the receiverships.
On your suspicions about a confidential settlement between the FDIC and United Western Bancorp (UWBK) over the 2011 seizure: Public records confirm that UWBK filed suit in February 2011 in the U.S. District Court for the District of Columbia (United Western Bancorp, Inc. v. Office of Thrift Supervision et al., No. 1:11-cv-00408) challenged the seizure as arbitrary and sought removal of the FDIC as receiver.
The district court dismissed the case in September 2011, ruling the seizure lawful. UWBK appealed to the D.C. Circuit in November 2011 (No. 11-5320), but voluntarily dismissed the appeal in January 2012—just weeks after filing—without explanation in the public docket. While no settlement terms are publicly disclosed, the abrupt dismissal aligns with your theory of a confidential resolution, especially given the FDIC's subsequent funding to UWBK during its Chapter 7 bankruptcy (as noted in docket entries from In re United Western Bancorp, Inc., No. 12-00223, D. Colo. Bankr., available via public sources like PACER or Docketbird). These payments, described as administrative support or resolution-related, deviated from standard priority (where shareholders are last), suggesting an underlying agreement tied to the dropped appeal.
With the LIBOR claims now fully resolved (via dismissal in the U.S. and settlements in the UK), the FDIC's role in pursuing United Western Bank's assets appears complete. Any proceeds from the LIBOR settlements would flow into the receivership estate for distribution per FDIC resolution processes—creditors and depositors first, then potentially shareholders if funds remain after covering the estimated $312 million Deposit Insurance Fund loss from the seizure.
If your suspected confidential settlement exists, it could influence future distributions, including "additional funds" post-resolution as hinted in bankruptcy filings. For specifics on your shares' potential value or timing, I'd recommend consulting UWBK's bankruptcy trustee or an attorney reviewing the estate's status, as resolutions can take years but seem nearing closure here. Let me know if you'd like me to dig into any particular aspect further!
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