FDIC Cannot Recover $3M Statutory Interest, D&O Insurer Argues To 11th Circuit

Mealey's (April 15, 2021, 4:07 PM EDT) -- ATLANTA — A directors and officers liability insurer on March 19 argued to the 11th Circuit U.S. Court of Appeals that a lower federal court properly determined that the Federal Deposit Insurance Corp. cannot recover $3 million in enhanced statutory prejudgment interest under Official Code of Georgia Annotated Section 7-4-15, contending that the FDIC has offered no grounds warranting reversal....