The 285 credit unions also will get two new seats on the corporate's board.
Former WesCorp Chief Financial Officer Todd Lane and his legal team have asked U.S. District Judge George Wu’s Los Angeles federal court to drop WestCorp's case against him, pay his legal fees and award him damages, according to legal documents filed Apr. 4. Lane also demanded a jury trial.
In new counterclaim, Todd Lane also asks for agency's claims against him to be dropped and for his legal fees to be paid.
California judge says they have to wait until their case is cleared and then can file as creditors of the failed corporate.
Terms of settlement with failed corporate's former chief investment officer, Robert Burrell, were not released.
Agency discounts reports that settlement reached with former WesCorp chief investment officer Robert Burrell.
The NCUA today issued a prohibition order Monday against Timothy T. Sidley, onetime chief risk officer with WesCorp.
Defendants in the litigation flowing from the liquidation of the Western Federal Corporate Credit Union have served notice that they want to depose the NCUA in the case.
No financial terms were announced in the settlement between Timothy Sidley, the failed corporate’s former chief risk officer, and the NCUA.
Defendants in the litigation flowing from the liquidation of Western Federal Corporate Credit Union have served notice to depose the NCUA Board.