In plaintiffs' breach of contract claim against the U.S. government arising from the savings and loan crisis of the early 1980s, the decision of the Court of Federal Claims summarily awarding plaintiffs restitution damages is affirmed in part, reversed in part, vacated and remanded where: 1) government's challenge to the restitution award of $17 million for plaintiffs' capital contribution is rejected; 2) trial court erred in including, as part of the restitution award, the sale premium; 3) trial court erred by not reducing the award by $4.287 million, the value of the tax benefits plaintiffs received; and 4) trial court did not err in offsetting plaintiffs' award with the government's $3 million cash contribution.
Appeal from: United States Court of Federal Claims
Decided October 21, 2009
Opinion by Clevenger, Circuit Judge.
For Appellee: Jeanne E. Davidson, United States Department of Justice, Washington, DC.