FDIC v. Siegel (In re Indymac Bancorp, Inc.), ___F.3d___ (9th Cir. 4/21/14)
FDIC v. Siegel (In re Indymac Bancorp, Inc.), ___F.3d___ (9th Cir. 4/21/14): The U.S. Court of Appeals for the Ninth Circuit ("Ninth Circuit") recently affirmed the decision of a district court finding that a $55 million tax refund paid to a bank holding company on account of losses suffered by a defunct subsidiary constituted an asset of the holding company’s bankruptcy estate. Though this decision gives some insight into the Ninth Circuit’s thinking on this issue, the decision is NOT binding authority, because it is an “unpublished” decision. Unpublished decisions can be cited in briefs, but must be identified as being a “not for publication” decision, if they are cited in briefs, to alert everyone that the decision is a “not for publication” decision.