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Gubler quoted in the 'Phoenix Business Journal'

April 05, 2012

Zachary Gubler, associate professor, was quoted by the Phoenix Business Journal in a March 19 article, “FDIC suing former Silver State Bank executives,” by reporter Jennifer A. Johnson.

The article reported on four former bankers from Silver State Bank, which has four branches in Arizona, who allegedly were grossly negligent and approved Arizona and Nevada land loans in violation of the bank’s lending policies. Their actions ultimately caused the bank’s failure. The FDIC is suing for $86 million tied to losses incurred by Silver State as a result of what the agency described as risky land loans made to developers in Arizona and Nevada, according to the article.

Gubler said he expects a spike in the number of lawsuits filed against directors and officers of failed banks.

According to the article, the FDIC said it brought suits or settled claims against about 24 percent of the directors and officers of banks that failed between 1985 and 1993.

To read the article, click here.

Gubler joined the ASU law faculty in 2011 after having spent two years at Harvard Law School as a Climenko Fellow. Prior to transitioning to the academy, he served as a law clerk for Judge Richard C. Wesley of the U.S. Court of Appeals for the Second Circuit, and worked as a corporate associate at Cravath, Swaine & Moore in New York City. He graduated in 2005 from Harvard Law School, where he served as an articles editor of the Harvard Law Review.