Integral Development Corporation is the world's leading provider of digital currency technology, serving over 200 financial institutions. One of its clients was First Republic Bank that was closed in connection with the failure of Silicon Valley Bank. When First Republic failed and FDIC was appointed its receiver, JPMorgan Chase Bank, N.A., assumed most of First Republic's assets and liabilities but declined to assume First Republic's contract with Integral. After FDIC denied Integral's administrative claim, Integral, represented by The Madden Law Group PLLC, sued FDIC in the U.S. District Court for the District of Columbia seeking its direct damages or, alternatively, its reliance damages, equal to approximately $400,000.00. On September 27, 2024, FDIC moved to dismiss, and on October 11, 2024, Integral opposed the Motion. Both briefs are attached.
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