March 28, 2015
In re IndyMac Bancorp, Inc.
The plaintiff in this matter is the Chapter 7 trustee of the estate of the failed bankrupt thrift holding company, IndyMac Bancorp, Inc. The defendants are the officers and directors of that failed thrift holding company. Plaintiff alleged that these officers and directors damaged the interests of IndyMac Bancorp by moving capital from the holding company to the holding company’s thrift subsidiary, IndyMac Bank, shortly before the thrift’s failure.
Econ One was retained by counsel for the plaintiff to conduct analyses and perform research while assisting Professor James Barth regarding the capital condition of IndyMac Bank and its capital needs at the time of the movement of capital from IndyMac Bancorp to the thrift. Donald McCarthy conducted this work which involved reviewing the financial reports of IndyMac Bancorp, reviewing the work product of IndyMac Bank’s regulators, and reviewing call report data related to IndyMac Bank. The case settled prior to the filing of any expert reports.
