A big win for Doran Sims Wolfe and Kundid when an appeals court upheld a their law firm’s $15 million judgment against BB&T bank in what is believed to be the third largest award ever for the state’s receiver.
Ted Doran, with help from colleagues Aaron Wolfe and Michael Kundid, represented the state in its battle against BB&T bank over some $12.5 million from certificates of deposits from two failed insurance companies with common owners. Doran’s law firm won the trial which concluded in June 2012 but BB&T bank appealed, as reported in the News Journal.
The 1st District Court of Appeal in Tallahassee last week upheld the multi-million award, which is expected to reach more than $17 million with attorneys’ fees and costs, Doran said in an interview.
“We are extremely pleased and appreciative to have the opportunity to represent the state and bring about this success,” Doran said.
BB&T was expected to pay $15.4 million in principal and interest on Friday.
“It’s a good day for taxpayers of Florida and really the credit goes to the (state’s) chief financial officer, Jeff Atwater, for pursuing these types of claims on behalf of the citizens of Florida,” Doran said.