Department of Justice Seal

FOR IMMEDIATE RELEASE

CIV

FRIDAY, APRIL 16, 1999

(202) 514-2007

WWW.USDOJ.GOV

TDD (202) 514-1888


DEPARTMENT OF JUSTICE STATEMENT


Today, U.S. Court of Federal Claims Judge Robert H. Hodges, Jr., issued an opinion agreeing with the position of the government in a case that is part of the series of cases known as the savings and loan goodwill cases. Judge Hodges awarded California Federal Bank, which had sought more than $1.5 billion, $23 million in today's decision.

The issues in California Federal Bank v. United States were similar to those which formed the basis of last week's decision in Glendale Federal Savings Bank v. United States.

"We are very pleased with the result and that the court has agreed with our position," said David W. Ogden, Acting Assistant Attorney General of the Civil Division.

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