The FDIC-R Colonial Bank Receivership...
...updated its determination as it has a couple (the two biggest) material litigation claims that changed in status (the FDIC-R has had some favorable rulings, settlements and appeals) since established; almost $1B litigation claim against PwC as auditors (and another firm, assisting in group audit) of the holding company re: almost $900M of fraudulent mortgage activity (by Management with collusion in and with a subsidiary Taylor Bean); $388M litigation claims for bad mortgage backed securities Colonial bought (from Citigroup Global, which settled, and Bank of America, Credit Suisse, Barclays and others).
...of interest, the Colonial FDIC-R was being by Bank of America for $1.7B, which the court first dismissed since BOA's claim was OUT OF THE MONEY since the Receivership was determined to have "NO VALUE." BOA pursued the no value determination, and with the FDIC-R "updated determination" from the "potential litigation recoveries and settlements" will again seek to have its $1.7B claim placed in priority.
So, IMO, after looking at the docket reports for these cases and the timeline, the FDIC-R was properly complying with the reporting requirements for the Receivership of Colonial Bank for "change in determination" of the estimate or potential of such recoveries based on the status of the litigation.
These FDIC-R litigation cases against the pertinent parties are active and were filed years ago. I don't see such in the Receivership of WMB/WMBfsb.
News 
Market Data 
Discover 
