Federal Deposit Insurance Corp. v. Bodin Concrete Co.

OPINION

MORRIS, Justice.

This case involves competing claims to foreclose different liens filed against real property located in Rockwall County, Texas. The central issue to be decided is whether the Federal Deposit Insurance Corporation (FDIC), as purchaser of a failed bank’s assets, has a right to foreclose a deed of trust lien granted to the failed bank. Holding it does, we leave to the trial court the task of determining the superiority between the FDIC’s hen and the constitutional mechanic’s hens held respectively by Bodin Concrete Company (Bodin) and Northeast Wholesale Lumber, Inc.…