Northeast Savings v. United States

OPINION

WILLIAMS, Judge.

This Winstar-related case is before the Court on cross-motions for summary judgment on liability. At issue is whether the Government entered into contracts with Plaintiff, Northeast Savings, granting Plaintiff certain favorable accounting treatment in exchange for Northeast’s merging with three failing thrifts. The merger agreements, Resolutions approving the mergers, forbearance letters, and contemporaneous documentation surrounding these transactions evince the Government’s agreement to permit Northeast to record supervisory goodwill as an intangible asset that could…