| Flagstar
Bank Blamed Regulators For Golden
Parachute Delay Now Quietly Settles It
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
March 25 – Joseph P.
Campanelli was apparently an
officer of Flagstar Bank, who
wants his golden parachute
payments but is being told he
can only get them if the
Federal Reserve and FDIC (and,
it seems, the Office of the
Comptroller of the Currency)
sign off.
On October 30
U.S. District Court for the
Southern District of New York
Judge Paul A. Engelmayer, to
whom the case was assigned in
August 2019, held a
proceeding. Inner City Press
covered it.
In the
proceeding Judge Engelmayer to
his credit told counsel for
Flagstar, which was once
referred to as Flagstaff like
in Arizona, that they could
not hide behind the regulators
by citing "best efforts"
language in the agreement.
The
difficult is that even hours
after the open proceeding, the
complaint of PACER still says,
"You do not have permission to
view this document."
Now on March 25,
this: "ORDER terminating [64]
Letter Motion to Stay re: [64]
JOINT LETTER MOTION to Stay
re: [63] Scheduling Order,,,
addressed to Judge Paul A.
Engelmayer from Julia M.
Jordan and Martin F. Gaynor
III dated March 24, 2021. The
Court commends counsel on
resolving this dispute. The
Court today will issue a
"60-day order" dismissing the
case while giving counsel 60
days to move to reopen it if
settlement is not finalized.
SO ORDERED. (Signed by Judge
Paul A. Engelmayer on
3/25/2021)."
The case is
Campanelli v. Flagstar
Bancorp, Inc., 19-cv-7299
(Engelmayer)
***
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