First Nationwide Bank v. United States

OPINION

BRUGGINK, Judge.

This contract action is one of several Wins-tar-related*7631 cases pending before the court, all of which arise from the savings and loans crisis of the late 1980s. It is part of a subgroup of cases which also assert a different breach in the form of legislation (hereafter, the “Guarini” legislation)2 repealing certain tax deductions available to acquirers from the United States of distressed bank assets. We have previously held that the Guarini legislation breached a covenant of good faith and fair dealing implied in the acquisition contract between plaintiffs and the…