Legal Opinion
Federal Deposit Insurance Corporation v. Bank of America National Trust and Savings Association
Court of Appeals for the Ninth Circuit
Decided March 18, 1983No. 81-4590PublishedCited by 59 opinions
1Opinion of the Court
DUNIWAY, Circuit Judge:
The Federal Deposit Insurance Corporation (FDIC) appeals from a summary judgment in favor of Bank of America, N.T. & S.A., in an action by FDIC to recover moneys deposited with Bank of America by Banco Crédito y Ahorro Ponceno, a Puerto Rican Bank (Banco Crédito) which became insolvent. Bank of America offset its liability for the deposits against the unpaid balance owed to it on a $5,000,000 subordinated capital note issued by Banco Crédito. The trial court upheld the setoff. We reverse.
I. The Facts.
Banco Crédito was organized under the laws of Puerto Rico and…
2Cases cited19 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Studley v. Boylston National BankSupreme Court of the United States · 1913
- Sawyer v. HoagSupreme Court of the United States · 1873
- New York County National Bank v. MasseySupreme Court of the United States · 1904
14 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- Lee v. SchweikerCourt of Appeals for the Third Circuit · 1984
- In Re Cascade Roads, Inc., Debtor. United States of America v. Peter H. Arkison, TrusteeCourt of Appeals for the Ninth Circuit · 1994
- Federal Deposit Insurance Corporation v. New Hampshire Insurance CompanyCourt of Appeals for the Ninth Circuit · 1992
- Morrison-Knudsen Co. v. CHG International, Inc.Court of Appeals for the Ninth Circuit · 1987
- Federal Deposit Insurance Corporation v. Blue Rock Shopping Center, Inc., a Delaware Corporation. Appeal of Max Ambach and Rose AmbachCourt of Appeals for the Third Circuit · 1985
54 more not listed; retrieve them via the Exa API.