Lafayette Federal Credit Union v. United States

GARBIS, District Judge.

The Court has before it Defendant’s Motion to Dismiss and the materials submitted relating thereto. The Court finds that a hearing is unnecessary to resolve the motion.

1. BACKGROUND

A. The Parties

This suit arose out of the National Credit Union Administration’s (“NCUA”) 1 decisions to place Capital Corporation Federal Credit Union (“CapCorp”) into conserva-torship on January 31, 1995 and subsequently to liquidate CapCorp. Plaintiffs are ninety-four credit unions and former holders of Preferred Capital Shares (“PCS”) in CapCorp, a now-defunct corporate federal credit…