Biscayne Federal Savings & Loan Ass'n v. Federal Home Loan Bank Board

FAY, Circuit Judge:

This case is a consolidated appeal from two orders entered in the United States District Court for the Southern District of Florida. It has its origin in a dispute over the Federal Home Loan Bank Board’s (FHLBB or “the Board”) appointment, pursuant to 12 U.S.C. § 1729(b) (1982), of the Federal Savings and Loan Insurance Corporation (FSLIC) as federal receiver for a federally chartered association, Biscayne Federal Savings and Loan Association (“Biscayne”). The appointment of the FSLIC triggered an action by Biscayne and its majority shareholder pursuant to 12 U.S.C. §…