From the Editor - Eligibility • NACTT Academy

From the Editor – Eligibility

By The Honorable William Houston Brown (Retired)

Debt to FDIC was unliquidated. Denying the trustee’s motion to dismiss for exceeding the debt limit, the court found that a debt to FDIC was noncontingent but it was unliquidated; therefore, that debt was not counted for eligibility purposes under § 109(e). Litigation was still pending by FDIC against the debtor, a former officer and director or a failed bank. FDIC stated that damages could exceed $33 million, but the amount of the claim was not readily ascertainable by a simple computation. The value of the claim will . . .

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