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RESOLUTION TRUST CORP. v. COOPERS & LYBRAND

No. 94 Civ. 8381 (DC).

915 F.Supp. 584 (1996)

RESOLUTION TRUST CORPORATION, as Receiver for Caprock Savings & Loan Association, and as Receiver for Caprock Federal Savings & Loan Association, and in its corporate capacity, Plaintiff, v. COOPERS & LYBRAND, Defendant.

United States District Court, S.D. New York.

January 19, 1996.

Attorney(s) appearing for the Case

Mullin Hoard & Brown, L.L.P. by John M. Brown, Joel R. Hogue, Amarillo, Texas, Ronqullo & DeWolf, L.L.P. by Jose L. Gonzalez, David Mace Robert, Dallas, Texas, Cooper, Liebowitz, Royster & Wright by Laurence B. Liebowitz, David P. Rubinstein, Elmsford, New York, Jack W. Raines, RTC Legal Division, Dallas, Texas, for plaintiff.

Arnold & Porter by Stephen M. Sacks, Scott B. Schreiber, Andrew T. Karron, Steve J. Bloom, New York City, for defendant.

MEMORANDUM DECISION

CHIN, District Judge.

The Resolution Trust Corporation (the "RTC") brings this action seeking more than $112 million in damages for the alleged negligence of Coopers & Lybrand ("C & L") in auditing the December 31, 1987 financial statements of Caprock Savings and Loan Association ("Caprock"). According to the RTC, if C & L had performed the audit with the requisite professional care, it would have discovered Caprock...

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